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Vol 49 No 8

Published 11th April 2008


Nigeria takes on Big Oil

President Umaru Yar'Adua has launched a thorough restructuring of the state-owned energy sector and a review of commercial contracts. His reform team hopes to bring in partners like China and Russia while raising funds on international capital markets. Nigeria says it does not want to exclude Western firms, although last month the market was chasing rumours that Shell was trying to sell much of its Nigerian acreage.

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