NIGERIA OFFERS BETTER EQUITY TERMS TO SAFEGUARD OIL EXPORT OFFTAKE

Nigeria is one of a number of OPEC countries which are now taking radical steps to safeguard their oil export volumes in the event of a weakening of the market next year. However, the Nigerian approach to the problem is of great interest in that it combines more favorable terms for the equity-holding producing companies in Nigeria with an element of netback pricing in determining realized prices for the purposes of...