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Shell tables Nigerian restructuring plans

02/25/2008
Shell Petroleum Development Co. (SPDC) has suspended its plans to restructure its joint venture in Nigeria following a request from Nigeria National Petroleum Corp. (NNPC) to resolve its oil production problems and improve efficiency. The development leaves in limbo the jobs of 5,000 employees, most of whom are Nigerians.Shell had announced last November plans to reduce costs by cutting jobs and to boost efficiency and productivity in its JV, which it operates and shares with NNPC, Total, and Agip, as militants and vandals’ attacks on its oil and gas facilities in western Nigeria have shut down 470,000 b/d of oil capacity for the past 2 years. Shell estimated that slimming down the ...
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