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Spotlight Oil & gas 05/10/2021

Buhari gives key E&P job to Alison-Madueke loyalist 

The restructuring of Nigeria's oil institutions, currently in progress, has led to the return of a number of leading figures from the Goodluck Jonathan era. Among them is retired NNPC executive Gbenga Komolafe, who was at his post when Diezani Alison-Madueke was petroleum resources minister. [...]
Nigeria's President Muhammadu Buhari signs Petroleum Industry Bill into law at the state house in Abuja.
Nigeria's President Muhammadu Buhari signs Petroleum Industry Bill into law at the state house in Abuja. © Nigeria Presidency/Handout via Reuters
Running story Oil & gas

The oil companies' quiet retreat from the Gulf of Guinea 

Long considered an oil Eldorado thanks to the presence within the region of Africa's two leading oil producers, Nigeria and Angola, the Gulf of Guinea is declining. The inexorable rundown in its output -few if any new discoveries have been made recently in Gabon, Cameroon or Equatorial Guinea - and the fall in oil prices brought about by the Covid-19 pandemic have speeded up the retreat from the region in which the oil majors have been engaged for some years already. [...]
An ExxonMobil FPSO off the coast Nigeria.
An ExxonMobil FPSO off the coast Nigeria. © ExxonMobil/DR

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