Nigeria | Egypt Oil & Gas - Part 51
Nigeria Slashes 2015 Fuel Subsidy Due to Price Slide
Nigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices.
Afren to Commission Ebok Platform Offshore Nigeria
Afren is looking to sustain its wide-ranging development and exploration programs offshore Africa, despite the company’s current financial difficulties.
Africa’s Richest Man Courts Seeks to Boost Nigerian Gas
Aliko Dangote, Africa’s richest man, plans to quadruple the supply of gas to Nigeria by building pipelines that may be backed by Carlyle Group LP and Blackstone Group LP, the world’s two biggest private-equity firms.
Nigeria’s NNPC Overpays state, but Still Owes
A forensic audit of Nigeria's state oil firm released on Monday said the company, accused of corruption, actually overpaid the state by almost $750 million, but should still pay it an additional $1.5 billion.
Nigerian Central Bank Calls for Tough Measures Due to Oil Prices
Nigeria's central bank ordered banks on Friday to crack down on borrowers with non-performing loans (NPLs) in a move aimed at avoiding a repeat of a 2009 industry bailout that cost the government $4 billion.
Buhari To Release Full Audit on Nigerian State Oil Company
Nigerian President-elect Muhammadu Buhari’s administration will publish the full audit of the state oil company and expects it will need to repay the government more than previously recommended, his party’s policy di ...
Nigeria Must Raise Gas Prices to Bridge Looming Gap
Nigeria has to raise its gas prices to attract an estimated $55 billion of investment needed to plug persistent local shortages, Nigerian Gas Association President Bolaji Osunsanya said.
Nigeria and Algeria Predict a Long Period of Low Oil Prices
Oil prices are likely to stay low for a long time after falling more than 40 percent in the past year, said officials from two OPEC nations.
