PRESIDENCY ORDERS TAKEOVER OF MINING LEASE FROM SHELL
Written by thereachfm on March 14, 2019
President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation to take over the operatorship of the entire Oil Mining Lease 11 from Shell Petroleum Development Company.
The directive was made known in a letter from State House, Abuja, to the Group Managing Director of NNPC, dated 1st of March, 2019, signed by the Chief of Staff to the President, Abba Kyari.
So far, both Shell and the NNPC, have not commented on the development however, sources at the Federal Ministry of Petroleum Resources in Abuja that there are four partners in the OML 11 joint venture.
Reports say that Shell has not produced a drop of crude oil from Ogoniland for about five years leading to a lack of revenue as a result.