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ID - Nigeria to sell down stakes in JVs with multinationals - March 2019
As Nigeria emerges from its 2016 economic recession by boosting revenue, budget minister Udoma Udo Udoma said the country plans to reduce its stake in joint oil ventures with multinational oil companies to 40% in 2019, Reuters reported. State-controlled NNPC owns a 55% stake in a JV with Shell that focuses on assets in the Niger Delta and adjoining shallow offshore areas. NNPC also holds a 60% majority stake in a JV with Chevron focused on eight concessions in the onshore......
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