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Western oil majors double down on Nigeria’s offshore fields

Oil drilling rig Photo Marian Lupan @ Unsplash
Oil drilling rig Photo Marian Lupan @ Unsplash

Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for Allen Dreyfus.
  • TotalEnergies signs $1.5bn deal in Nigeria’s first new permits in a decade
  • Shell, ExxonMobil commit billions to offshore projects under new incentives

 

LAGOS, NIGERIA – Western energy giants are tightening their grip on Nigeria’s offshore oil reserves, pouring billions into exploration and production as the government rolls out fiscal incentives to revive a struggling sector.

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