FG, Shell reach crucial stage in funding for oil production
Date: Thursday, May 15 @ 07:36:59 PDT
Topic: Business News; Market Research
A senior executive underlined Shell’s concerns last year when he warned in an internal memo that Nigeria’s failure to pay its share of the costs posed a "big risk" to the existence of the joint venture - the Shell Petroleum Development Company (SPDC).
Energy advisers to Yar’Adua cautioned in an internal report in January that Nigeria’s oil production could fall by a third by 2015 if the financing gaps in joint ventures with oil companies were not addressed.
BusinessDay
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