March 8, 2016/Reuters Nigeria, Africa’s top oil producer, wants to remove the need for imported petroleum products within 18 months, Minister of State for Petroleum Emmanuel Ibe Kachikwu said on Tuesday. Nigeria’s four refineries have never reached full production because of sabotage and poor maintenance, causing the country to rely […]
Tag: NNPC
Nigeria in talks with oil majors to repay debt, invest in refineries
February 14, 2016/Reuters Nigeria is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil firm has accumulated over years of mismanagement, the firm’s head told Reuters. Emmanuel Ibe Kachikwu, who is also the […]
Nigeria oil money: ‘$20bn not missing’
Nigeria’s state oil firm has denied an allegation by the central bank chief that it has failed to account for at least $20bn (£12.2bn) of oil revenues. Lamido Sanusi told a senate committee on Tuesday that out of $67bn of oil sold between January 2012 and July 2013, $20bn was […]
