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Nigeria to restructure energy industry under new policy

09/10/2007
Nigeria is radically restructuring state-owned Nigeria National Petroleum Corp. and the Nigerian energy sector under a new oil and gas policy that will take 6 months to implement.An NNPC spokesman told OGJ the aim of the restructuring was to improve the commerciality of the company in its new state. “The government is looking to loosen its ties so that it becomes internationally integrated to be like Petrobras, Petronas, and Statoil,” he said.Undergoing major changes are the Department for Petroleum Resources (DPR), the Ministry of Petroleum Resources, and the Petroleum Products Price Agency, which regulates domestic pump prices.A national energy council, led by Nigeria’...
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