Nigeria, Africa's top oil producer, is in talks with Shell (RDS.A, RDS.B), Exxon Mobil (XOM) and...

|By:, SA News Editor

Nigeria, Africa's top oil producer, is in talks with Shell (RDS.A, RDS.B), Exxon Mobil (XOM) and other energy producers to reach an agreement on taxes that would increase the country’s share of profits from oil pumped off its shores. The government claims extraction laws are based on $20 crude and unrealistic at today's prices; the companies warn against driving away investment.