OpeOluwani Akintayo
Lagos — Nigeria’s state-owned oil firm, NNPC, has said it is suspending some “ambitious” proposals, including reducing its stakes in the existing upstream joint ventures deals, and changing the way it pays its part of the cash calls in the joint ventures with international oil companies.
In his first interview with Reuters since his assumption of office, NNPC’s GMD, Mallam Mele Kyari said although the federal government still wants to sell its stakes to than 40 percent, however, there was currently no framework in place for the sales and cash payment change.
