Nigeria

Exclusive: Draft of Nigeria oil bill being finalized

24 May 2012

ABUJA/LAGOS (Reuters) - A new draft of Nigeria's long delayed oil bill, whose passage is needed to unblock billions of dollars of stalled investment into exploration and production, will be finalized this week, sources close to the matter said on Thursday. A copy of the 200-page Petroleum Industry Bill (PIB) obtained by Reuters includes plans to partly privatize and list the state oil firm, tax ...

Factbox: Nigeria's draft Petroleum Industry Bill

24 May 2012

(Reuters) - Nigeria's government task force will finalize a draft of the long-delayed Petroleum Industry Bill (PIB) this week before sending it to the oil minister and the national assembly for debate, industry sources told Reuters. The ambitious PIB has been years in the making and several other versions have been debated by parliament. In January, President Goodluck Jonathan ordered that a ...

Nigeria says losing 180,000 barrels daily to oil thieves

24 May 2012

Nigeria loses 180,000 barrels of oil per day to theft, the head of the state oil firm said Thursday, while calling on lawmakers to help eliminate the scourge in Africa’s largest producer.