THE GOVERNMENT is planning to end joint-venture arrangements between foreign companies and state-owned Nigerian National Petroleum Corporation (NNPC), under which most of the country's oil has been produced since the early 1970s. The agreements will be replaced by "incorporated joint ventures" (IJVs) - single corporate entities in which the companies and the state hold interests under a plan announced by Emmanuel Egbogah, the president's speciai adviser on petroleum.
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