Reuters
Nigeria signs $3.1 bln funding deal with Shell
Mon May 26, 2008 3:02pm EDT
ABUJA (Reuters) – Nigeria signed a $3.1 billion deal with the local arm of Royal Dutch Shell (RDSa.L: Quote, Profile,Research) on Monday to plug a funding gap in their joint venture projects, the country’s state oil firm NNPC said.
Under the deal, Shell would cover a $1.3 billion shortfall in NNPC’s share of the 2008 joint venture budget and provide an extra $1.8 billion loan to cover outstanding payments from 2006 and 2007, NNPC said in a statement.
(Reporting by Camillus Eboh; Writing by Nick Tattersall; Editing by David Gregorio)
© Thomson Reuters 2008 All rights reserved
RELATED BLOG POSTS
RELATED WEB NEWS
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.