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

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.
Comments (2)
  • They could also try to stop all the pirating of oil that takes place. Tens of thousands of barrels a day are stolen with the added bonus of an environmental mess left behind after the thief's leave.
    4 Dec 2012, 12:30 PM Reply Like
  • Who are the thieves? Oil companies or those stealing from them?

     

    I'm getting a little weary of the problems big oil has with tinpot dictators. Venezuela, Nigeria, Russia, Brazil--no one keeps their promises and they all want to come back and renegotiate deals once capital investments are made. Tough row to hoe. I have started to focus more on domestic plays. You have to be real careful to avoid being taken by these countries. One thing is for sure, our President will not stand up for US investors and pension funds when their investments are raided by these tinpot dictators.
    4 Dec 2012, 05:53 PM Reply Like
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