Sao Tome’s Oil Rejection: A warning signal Nigeria must not ignore
Authorities said only two companies bid for the blocks, leaving too little competition to set a fair market value.
4 Articles
4 Articles
What Nigeria must learn from oil industry's rejection of Sao Tome’s oil blocks
Only two companies, Petrobas and Oranto, submitted bids, leaving the authorities without sufficient competition to determine the true market value of the assets. The post What Nigeria must learn from oil industry’s rejection of Sao Tome’s oil blocks appeared first on Premium Times Nigeria.
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VMT NewsSao Tome’s Oil Rejection: A Warning Signal Nigeria Must Not Ignore
By Rotimi Ijikanmi, News Agency of Nigeria (NAN) Sao Tome and Príncipe rejected bids for its three offshore oil blocs after its 2026 licensing round attracted only Brazil’s Petrobras and Nigeria’s Oranto Petroleum. The decision surprised many because the island nation of Central Africa had offered investors unusually generous terms, including up to 85 per cent ownership of the oil blocs. Ordinarily, the government had expected generous terms to …
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