Southern discomfort for Buhari as Nigerian output tanks


Views
Issue 333 - 31 Oct 2016 | 3 minute read

Headlines in mid-October suggested renewed vibrancy in the Nigerian hydrocarbons industry under President Muhammadu Buhari, talking of mega-deals involving ExxonMobil and Indian investment, and plans for exploration in the north-east (see Upstream) and to raise domestic refining capacity to 650,000 b/d (from 445,000 b/d). But the divestment to the local Nipco Investments of ExxonMobil’s 60% stake in Mobil Oil Nigeria leaves Total as the sole major still operating in the downstream; the Indian deal, if it can be delivered, seems a desperate effort to raise cash. International oil companies (IOCs) continue to downsize, amid a damaging escalation of Niger Delta violence.

Want to read more?

Subscribe to African Energy

View subscription options

This article is available to registered users

Login

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register