According to Reuters, Shell, which is the largest foreign operator in Nigeria’s oil and gas sector, operates primarily through joint ventures with the state oil company, Nigerian National Petroleum Corporation.
The Nigerian government receives a large share of the state oil company’s profits making it hard for it to meet project funding targets, according to the news source.
Malcolm Brinded, Shell’s head of exploration and production, as quoted by Reuters, said: We’ve made progress with the main principals, but there are still an awful lot of important aspects to be resolved. It’s going in the right direction and it’s moving.
