Post #323

🛢 Nigeria’s Black Friday The Nigerian government is rushing to hand out oil concessions for nothing 🛒 Nigeria's oil regulator NURPCreduced the signature bonus for bidders in the oil licensing round to $3–7 million. The bidding process for 50 licenses was launched in London on 1 December. A signature bonus is a non-refundable payment made by a contractor to the government when a petroleum agreement is signed. Firms awarded oil or gas assets are expected to pay this bonus to the government. 💵 The bonus was already reduced last year — from $200 million down to $7–10 million. Now Nigeria's government has apparently judged that oil companies are too poor to pay even that. Maybe it should consider paying Shell and Chevron itself. ⏩Selling off as much oil as possible has become an idée fixe in Abuja. In 2025 the country exceeded its OPEC quota 3 times, while government officials boasted of producing 1.8 million barrels per day and demandedhigher limits. ➡️ Follow to stay informed - @devilsbelow