Nigeria: Why We Increased Stake on Offshore Blocks - FG

28 September 2012

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said the Federal Government increased its stake in deep offshore blocks to 73 percent because of prevailing realities in the global oil and gas industry.

Government's initial Production Sharing Contract, PSC, for deep water fields was reviewed from 61 percent in the draft Petroleum Industry Bill, currently before the National Assembly for consideration.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.