Related Articles
Report
Forward article link
Share PDF with colleagues

Nigeria looking up

Long-awaited legislative progress, peace in the Delta and some astute political management are creating optimism in the country's energy sector

Over the next five years, the federal government of Nigeria is looking to attract about $10bn in new investment into the country's energy sector. About $6bn is needed to fix its refineries and reduce petroleum product imports. The Nigerian National Petroleum Corporation (NNPC) also intends to upgrade total refinery processing capacity to 0.7m barrels a day; a level that, even at 50% utilisation, would meet domestic demand. (Current nameplate capacity is about 450,000 b/d, but actual processing is much lower.) Much new spending is needed for gas pipelines and processing capacity; the NNPC has its own plans to build a 0.5bn cubic-feet-a-day gas processing plant to feed the power sector. Nigeri

Also in this section
Venezuelan crunch time
17 November 2017
Venezuela faces steep bond payments before the end of the year. It is looking to Russia to help keep it from default
Taking a chance in Kurdish Iraq
16 November 2017
The KRG referendum result and subsequent Iraqi army offensive against the Kurds underline how risky it is for companies involved in the export and sale of Kurdish crude
Iraq—the end of the beginning
16 November 2017
Iraq's army has retaken Kurdish-controlled areas around Kirkuk in the north, while neighbouring states are considering their long-term response to the independence referendum