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Brazil's Rousseff meets Nigerian leader for trade talks

February 23, 2013 08:45
Brazil's President Dilma Rousseff met with Nigeria's leader Goodluck Jonathan in Abuja on Saturday for talks that were expected to focus on boosting trade, notably in the energy sector. Oil-rich Nigeria is Brazil's main commercial partner in Africa, with bilateral trade soaring 500 percent from $1.5 billion in 2002 to $9 billion last year. Brazil's state-owned oil company Petrobras has invested hundreds of millions of dollars in Nigeria's coal, oil, natural gas and alternative energy sectors.

Nigeria wants world's help to slow massive oil theft

February 19, 2013 10:01
Nigeria has appealed to foreign governments to help crack down on crude oil theft, the oil minister said Tuesday of the illicit industry that robs Africa's biggest oil producer of some $6 billion per year. However, industry officials from Shell and other firms say more needs to be done within Nigeria itself to stop or at least slow the sabotage of pipelines and theft of oil that feeds a lucrative black market.

Nigeria seeks Britain's help to tackle oil crime network

February 19, 2013 07:30
ABUJA, Feb 19 (Reuters) - Nigeria has asked Britain for help to tackle a multi-million dollar oil theft business which is run by international crime syndicates, the country's oil minister said on Tuesday. Oil 'bunkering' -- hacking into pipelines to steal crude then refining it or selling it abroad -- is costing Nigeria a fifth of its two million barrels per day output, government and international oil companies say.

US oil output boost affects Nigerian exports: minister

February 19, 2013 07:15
Nigeria's oil minister said on Tuesday that a boost in US oil and gas production had begun affecting Nigerian exports, with the United States a major market for crude from Nigeria, Africa's biggest producer. Analysts have previously warned that Nigeria would eventually have to look to different markets to compensate for a fall in exports to the United States, and have predicted its sales could shift toward Asia.

Heat on Nigeria's petroleum industry as oil execs gather

February 16, 2013 23:30
Major oil industry executives gather in Nigeria's capital for an annual conference this week with Africa's largest crude producer under pressure over reports alleging large-scale corruption and mismanagement. The conference kicking off Monday evening in Abuja is expected to see appearances by government ministers and top officials from oil majors Shell, Exxon, Total and Chevron, as well as Nigeria's state petroleum firm NNPC.

Nigeria anti-graft lawmaker charged with $3 mln bribe

February 1, 2013 08:01
* Lawmaker blew lid on $6.8 bln fuel subsidy scam * Charged with accepting bribe from oil tycoon * Lawyer says case is conspiracy by oil firms, officials By Camillus Eboh ABUJA, Feb 1 (Reuters) - A lawmaker who led a corruption probe into Nigeria's fuel subsidy last year was charged on Friday with accepting a $3 million bribe from a billionaire oil tycoon to remove his company from the list of fraudsters.
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