Africa Oil & Gas: Privatise Nigeria’s oil industry? Easier said than done

Africa Oil & Gas: Privatise Nigeria’s oil industry? Easier said than done

A leading contender in Nigeria’s presidential election next month has pledged to privatise the country’s oil industry, but that’s a promise that might prove hard to keep, some observers say quoted by AFP. Atiku Abubakar, the main opposition party contender, has vowed to break up the Nigerian National Petroleum Company (NNPC), which he called a “mafia organisation”. The NNPC and other state-run organisations have been widely criticised as becoming slush funds for successive governments, particularly…

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Africa Oil & Gas: Nigeria’s NNPC Could Ink Oil Swap Deals With Two More Supermajors

Africa Oil & Gas: Nigeria’s NNPC Could Ink Oil Swap Deals With Two More Supermajors

Nigeria’s state oil company is mulling over the signing of two more oil swap deals, with Exxon and Shell, after last week it sealed an oil-for-products deal with BP, Reuters reports, quoting NNPC’s chief operating officer for upstream, Bello Rabiu.

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Africa Oil & Gas: NNPC says China Willing To Invest $3B In Oil Operations

(Reuters) – China National Offshore Oil Corp (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

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Africa Oil & Gas: Nigeria Opposition Leader Promises Partial Oil Firm Privatization

A former ally of Nigeria’s President Muhammadu Buhari has pledged to privatize parts of the country’s national oil company if he wins the presidential vote next February. Atiku Abubakar told Reuters a floating naira will serve to attract greater foreign investment in Africa’s biggest crude oil producer.

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