Africa Oil & Gas: Nigeria’s NNPC to review production-sharing contracts and joint ventures

The new head of the Nigerian National Petroleum Corp (NNPC) said on Sunday he will review all production-sharing contracts and joint venture agreements with its partners ‘to reflect current day realities in the global oil and gas industry’.

Emmanuel Kachikwu, appointed two weeks ago to head the state oil company which has been accused of corruption and mismanagement, said he would remit all crude oil proceeds due to the Nigerian government and plug all revenue leakages in the upstream, midstream and downstream oil sectors.(Source: Reuters)