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Thursday, August 29, 2013

10,000 jobs threatened as Shell, Chevron withdraw from OKLNG

The unemployment rate in Nigeria is set to rise further as Chevron Nigeria Limited and Shell announced their withdrawal from the Olokola Liquefied Natural Gas Project, OKLNG, thus putting the fate of about 10,000 workers on the line.

The companies underpinned their reason for withdrawal to include lack of commitment from the Federal Government to pursue the completion of the project, the non-passage of the petroleum bill, PIB. However, Shell’s withdrawal still remains a doubt as they are yet to confirm their pull out. Likewise, the word is mum at Nigerian National Petroleum Corporation, NNPC, the principal partner in the project, which had been informed on the oil majors decisions, and had over the years had seconded a lot of its staff to the OKLNG project.

However, after almost a month of taken the decision, Chevron, in a statement signed by its General Manager, Policy, Government & Public Affairs, Mr. Deji Haastrup, said that the company effectively pulled out of the project on July 31, 2013, adding that efforts over the last eight years to mature the project have not resulted in a final investment decision, FID.

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