9 March 2011
Nigeria’s oil sector is in as bad a shape as it has been in years. Uncertainty surrounding the Petroleum Industry Bill (PIB) and a resurgence of violence in the restive Delta region has nearly halted investment in oil and gas exploration in the country. Only one exploration well was drilled in
Major international oil companies (IOCs) operating in Nigeria, including Royal Dutch Shell and Total, have said that they are holding back billions of dollars of investment until the PIB passes and they have clarity on the financial and operational climate...
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