Sunday, May 22, 2011

Shell Nigeria divestment plan hit by scandal

Business Day
20 May 2011


Shell’s plan to divest from its OML 40 has been engulfed in a scandal after it emerged that one of the prospective buyers of the oil lease, Vertex has petitioned the Petroleum minister, alleging irregularities in the sale process.

The company is alleging a complete lack of transparency by the Anglo Dutch oil giant which may have side tracked its own laid down procedure...

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