Wednesday, February 19, 2020

Big oil companies don't like Nigeria oil royalty increase, low prices

ABUJA, Feb 13 (Reuters) - Cost increases and uncertainty in Nigeria’s crucial energy sector could lead to a 35% decline in oil output over 10 years as companies delay investments in key oilfields, consultancy Wood Mackenzie said in new research due to be published on Friday.

...Without the three fields, Koch said Nigerian production would drop 35% within a decade.

..Wood Mackenzie cited changes to tax and royalty laws and uncertainty over oil reform as the main reasons for delays, although it also estimated that the three projects are “not economically viable” under current terms, and with oil under $60 per barrel.

Thursday, February 6, 2020

Lagos, Nigeria, choked with cars, bans okadas, makes things worse

Lagos has a world-wide reputation for its infamous traffic jams and poorly maintained roads, and the ban will only increase the problems for residents of the city. For the 22 million residents of Lagos, commercial motorbikes — known as “okadas” — have gained repute for their ability to snake through Lagos’ ever present congestions. Tricycles — “keke’s” — are also a major form of transport used to beat the congestion.
To the government of Lagos, however, these alternatives probably deviate from their vision of how a megacity should look.