Nigeria's federal government may downsize its equity stakes in assets held with major joint venture partners such as Shell, Total, Chevron and ExxonMobil to less than 40% when the long-awaited oil law reform package is passed and gains presidential assent, writes Barry Morgan.
“Ambitious proposals” to sell down government stakes in joint ventures by changing the way the state meets its cash calls remains on hold as there is currently no framework in place to conduct such sales,” said Nigerian National Petroleum Corporation (NNPC) group managing director Mele Kyari.
