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With agreements between the Nigerian government and oil majors reached a quarter of a century ago up for review and renegotiation, critical questions of joint venture funding are a major element of reforms that are sending shockwaves through the sector, write Eleanor Gillespie in Abuja and Leonard Lawal in Lagos.

Presidential advisor Rilwanu Lukman used CWC Associates' Nigeria Oil & Gas Conference 2008 to set out his stall for the reforms the Yar'Adua administration is piloting through the political system - while not revealing all the goodies he is trying to sell Nigeria and the global industry, as outlined in the draft programme seen by African Energy and reported in.

Plans are moving ahead for the most radical overhaul of Nigeria’s hydrocarbons industry in 40 years, according to the draft report seen by Our Gulf of Guinea Correspondent. Also in African Energy, Eleanor Gillespie in Abuja and Leonard Lawal in Lagos report on joint ventures and other aspects of the reform promised across the industry, which may not be to the taste of many IOCs but fulfill a need for real change in Nigeria.

PETER BROTHERHOOD: Gabon FPSO turbine gensets; WARTSILA: Namibia presence confirms regional ambitions; WOOD GROUP: Nigerian GT order

President Umaru Musa Yar’Adua promised he would sort out the Niger Delta in his first 100 days in office, but observers say the political will to follow up words with deeds is lacking, and influential Nigerians are still making a lot of money out of the crisis. It was a well-meaning gesture to put Vice President

Afrinvest name change; Maputo port investment; First Quantum financing; PA bond issue

Among the larger Saudi-controlled companies active in the African resources boom is Stockholm-based Svenska Petroleum, which belongs to Saudi/Ethiopian magnate Mohammed Hussein Al-Amoudi – one of that group of Saudi businessmen born into non-Saudi or marginal communities who have emerged as very significant players, usually by being linked to senior Saudi princes as ‘men of business’ during part, at least, of their careers.

With the first attempt at privatisation ending in disarray and the Bureau for Private Enterprises facing reorganisation, prospects look bleak for the divestment of Nigeria’s oil refineries, seen as essential to end chronic fuel shortages. On the plus side, a number of new projects are on the table, and although by no means all will see the light of day a few are making real progress, writes Leonard Lawal in Lagos.

ANGOLA: InterOil farms into Cabinda North; GABON: Themis Marin well fails; LIBYA/TUNISIA: NOC reorganises Tunisian joint ventures; NIGERIA: Amec consortium wins $220m contract; NIGERIA/STP: JDA confirms Dana Gas stake; TUNISIA: Etap seeks support for international subsidiary; TUNISIA: New permit in Algerian border region

Nigerian fuel marketer Oando has secured a $100m credit facility from a consortium of foreign and local banks led by Standard Chartered to finance upstream exploration plans and the construction of an oil refinery. .