This Day (Lagos)
9 February 2008
Stanley Nkwazema
Abuja
The management of the Nigeria National Petroleum Corporation (NNPC) is not comfortable with the ongoing restructuring at the Shell Petroleum Development Company of Nigeria (SPDC).
An NNPC official said yesterday that the corporation, as the principal partner with a 51 per cent stake in the NNPC/Shell/Agip/Elf joint venture arrangement, should be properly briefed before an action of such a magnitude is taken by the Anglo-Dutch firm.
It also feels that Shell, which was yet to communicate the restructuring plan to the NNPC, cannot justify the plan.