Nigeria’s Oil Industry Expansion Threatened By Oil Major Exodus

Nigeria has been looking for years to stem a drop in its oil production, which has dragged government revenues down and didn’t allow Africa’s largest OPEC producer and exporter to take full advantage of the surge in oil prices in 2022.   Also for years, Nigeria has seen an exodus of Big Oil from the restive onshore Niger Delta, where oil theft and illegal tapping of pipelines have often led to oil spills for which the majors have been blamed. International oil companies have been forced time and again to declare force majeure on…