OPEC

Nigeria Improves Terms for Equity Holders

In an evident effort to boost its flagging oil sales, Nigeria has now finalized agreements involving improved financial terms for companies with equity interests in oil production in Nigeria (MEES, 18 November 1985). Whereas under the previous fiscal arrangements the companies' margin on equity crude Siftings - a theoretical $2/B when measured against the official price of $28.65/B - was liable to rapid elimination in the event of falling...