Nigeria’s ruling party recommended the government discard a long-delayed oil-industry bill, review fuel subsidies and sell off some units of the state petroleum company.
As petroleum minister during the 1970s oil boom, Muhammadu Buhari set up the Nigerian National Petroleum Corporation. It is an accident of history that the same man, elected president in March, could now be compelled ...
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.
Nigeria is reducing its capital budget for joint venture oil operations by 40% this year to $8.1 billion due to the slump in crude oil prices, sources at the Nigerian National Petroleum Corporation said Monday.
Nigeria's state oil company said on Monday that ExxonMobil has until Thursday to express its interest in three large oil-drilling licences that the U.S. energy firm says it has already been granted.