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Nigerian oil giant NNPC will become real company

The Nigerian National Petroleum Company will be transformed from an impenetrable bureaucratic giant into a real privately run company when restructuring is completed next year, says Nigeria’s President Umaru Yar’Adua. After taking office a year ago, Yar’Adua decided to break up the 30 year-old NNPC into five separate new companies, but he has since been heading a committee whose proposals for a new structure are expected in a couple of weeks. Full Story

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