NNPC warns oil block buyers may lose operating rights

NNPC warns oil block buyers may lose operating rights

Nigeria’s state oil company warned investors interested in three shallow water oil blocks offered for sale by Chevron that buyers may lose the right to operate them. U.S.-based Chevron is selling minority stakes in joint ventures that operate five oil blocks. The majority owner is the Nigeria National Petroleum Corporation (NNPC). Nigeria wants more direct ownership of its oil…

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