• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 6 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 12 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 1 day Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 38 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 hours Saudi Fund Wants to Take Tesla Private?
  • 19 mins Venezuela set to raise gasoline prices to international levels.
  • 1 day Batteries Could Be a Small Dotcom-Style Bubble
  • 21 hours Starvation, horror in Venezuela
  • 1 day France Will Close All Coal Fired Power Stations By 2021
  • 1 day Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 4 hours Corporations Are Buying More Renewables Than Ever
  • 12 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 20 hours WTI @ 69.33 headed for $70s - $80s end of August
Philippines Cracks Down On Fuel Pirates

Philippines Cracks Down On Fuel Pirates

Though fuel smuggling in Southeast…

Shale Profits Remain Elusive

Shale Profits Remain Elusive

Despite higher oil prices, U.S…

U.S. Government Interested in Nigeria’s Energy Infrastructure

U.S. Ambassador to Nigeria, Mr. Terence McCulley has told the Nigerian government of Washington’s interest in the country’s energy sector.

Following a meeting with Nigeria’s Minister of Power Bart Nnaji, McCulley stressed to reporters that U.S. has "serious strategic interest" in investing in Nigeria’s power sector, but asked Nnaji to address ongoing endemic corruption in the country’s energy sector along with stating that American investors should enjoy a level playing field if they decide to invest, The Daily Champion reported.

McCulley added that U.S. active participation in Nigeria’s energy sector was critical for both countries since Washington regarded Nigeria as a strategic partner in resolving global challenges, especially in Sub Saharan Africa.

Nnaji replied that the government’s power sector reform “Roadmap” was designed to cope with the issue of corruption, stating, “Nigeria will observe the sanctity of agreements it enters into, and will not renege on such agreements it legally entered into. Sanctity of contracts is a sign of trust and confidence in a nation and we cannot continue to rampantly renege on agreements anymore and expect investors to accept it or laugh it off. The holistic privatization of the Power Holding Company of Nigeria is meant to checkmate interference of corruption in the value chain. Private sector management of arteries of national economies is a hallmark of globalization.”

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News