Bloomberg: Oil Giants Note — Nigeria Now Has a Chance to Open Its Fields
By Dulue Mbachu and Tope Alake: 16 July 2019, 05:00 BST
*Buhari’s parliamentary control could speed passage of reforms
*Oil majors want favorable fiscal terms to explore deep waters
Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over.
An overhaul of oil policy that’s been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer through parliament in his second term to help drive investment in the oil-dependent economy. The delays cost an estimated $15 billion a year in lost funding for the industry over the past decade, according to the Petroleum Ministry.