Nigeria | Egypt Oil & Gas - Part 37
Nigerian President Rejects Currency Devaluation
Nigeria's President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per $1 in ...
Nigeria Backs Oil Output Freeze
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their market share lost due to sanctions and war.
Nigeria Seeks Capital for Drilling Projects, Debt Repayment
Nigeria is in talks with oil majors and banks to raise capital for new drilling projects as most recent statistics have indicated that the country has seen a loss in oil capital of up to $1.34b in 2015.
Nigeria’s Refineries to Resume Activity in February
Nigeria's refineries are expected to restart before the end of February, after attacks on their feedstock pipelines forced their closure in January. Nigeria Faces Suspension from EITI Club
The global Extractive Industries Transparency Initiative (EITI) warned that Nigeria significantly risked its suspension from the body. Experts believe that such suspension could put the country in a bad light before ...
Shell Postpones Deep Water Project in Nigeria
Royal Dutch Shell has announced it would postpone the Final Investment Decision (FID) on the $12b Bonga South-West oil project in deep-water Nigeria amid the sustained drop in oil prices, as its adjusted profit fell ...
Nigeria’s National Oil Company Announces $1.3b in Losses
NNPC, the state oil company in Nigeria, Africa’s biggest producer of crude, made a $1.34b loss for 2015, dragged down by its refining division.
IMF is Ready to Lend to African Oil Producers, No Requests Made
The IMF said it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding requests.
