In meetings with oil & gas companies under our coverage, it was evident that strong oil prices and stability in the Niger Delta have bolstered investor confidence, while the impact of the proposed Petroleum Industry Bill (PIB) on oil & gas producers was a central discussion point. Nigerian oil & gas sectorThe oil & gas sector is benefitting from oil prices at c. $80/bl, increasing upside potential and profitability for producers, and the current situation in the Niger Delta. Lastly, it is expected that the proposed PIB will remove pioneer status on oil & gas assets and other loopholes which reduce the government’s oil & gas tax collection. Temilade Aduroja, Sub-Saharan Africa Oil & Gas and Cement Analyst, Renaissance CapitalTemilade joined Renaissance Capital in September 2014. She is our oil & gas and cement analyst for Sub-Saharan Africa.

Source: The North Africa Journal June 11, 2018 16:07 UTC