Nigeria’s Buhari: Oil companies see optimism and risks
Nigeria’s new government, headed by former-general Muhammadu Buhari, arrives with plans which could be positive for the oil companies - but with the risk of stirring up increased dissent in the producing areas
BUHARI was a decisive oil minister and head of the state company, Nigerian National Petroleum Corporation (NNPC), for three years in the 1970s, before becoming an iron-rule president for 20 months after a military coup in 1983. Buhari’s election campaign laid stress on tackling Nigeria’s corruption and security problems, and he is expected to be a reformer in the administration of the oil industry. But, as a Muslim from the north of the country, he will have to tread carefully to avoid escalating the troubles in the southern Niger delta area — the heartland of the previous president, Goodluck Jonathan. The new government is expected to make a priority of passing the Petroleum Industry Bill
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
