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Nigeria bullish about oil recovery
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030
Untangling Dangote’s supply
The Nigerian mega-refinery has yet to reach its full product-producing potential
Nigeria’s first FLNG project faces supply problem
The lack of a gas supply contract means the development is likely to face further delays
African divestment deals are back in the frame
After some delay, the much-heralded sale of oil and gas companies’ mature upstream assets in sub-Saharan Africa has gained fresh momentum, with a clutch of deals reaching completion
Letter on Africa: New African refineries could help break old dependencies
A profound shift is occurring in the global refining sector, one which might help redefine Africa’s place in worldwide trade networks
Dangote dispute goes public
Ifeanyi Onyegiri, senior analyst for sub-Saharan Africa at consultancy Welligence, talks to Petroleum Economist about the latest controversies surrounding Nigeria’s Dangote refinery
Nigeria’s gas ambitions gain ground
But regulatory and feedstock issues continue to hinder the pace of progress
Dangote poised to fulfil gasoline goals
But the commissioning process is ongoing and initial gasoline output may be limited
Nigeria must navigate gas pipeline project risk
Changing demand patterns, rising global LNG supplies, funding issues and regional insecurity threaten gas infrastructure buildout, but experts plot way ahead
Shell’s withdrawal opens doors for Nigerian firms
Oil major's departure from the Nigerian onshore oil business offers opportunities for local firms, but could also leave a financing gap
NNPC subsidiary NPDC is supposed to be a self-sufficient operator but still lacks that capability
Nigeria NNPC
Simon Ferrie
4 February 2022
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NNPC seeks funds, eyes upstream expansion

The Nigerian state oil firm is seeking to raise billions as it attempts to become a commercial entity and as IOCs look to divest assets in the country

Multilateral African finance institution Afreximbank has agreed to help Nigeria’s state-owned NNPC raise $5bn “to support our upstream businesses and facilitate energy supply and transition”, NNPC says. Afreximbank is likely to arrange the financing, rather than provide the bulk of the $5bn itself. There is a “strong possibility” that the capital required will come from sources, such as in the Middle East or Asia  “outside of the traditional Western lenders”, says Obo Idornigie, vice-president for sub-Saharan Africa at market intelligence firm Welligence Energy Analytics. “Domestic banks are maxed-out, [and] international banks are stepping back from the upstream oil sector,” says Gail Ander

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