Lagos—Nigeria is to split state-owned Nigerian National Petroleum Corp. into four separate entities, with each able to operate as a standalone unit, under a major restructuring that will precede the passage of key oil reform legislation, junior oil minister Emmanuel Kachikwu said Thursday. “The restructuring effort will unbundle this company into four key components: the upstream company, the downstream company; midstream company, which is the gas and power company, and then of course, the refining group company,” Kachikwu said in Abuja.
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