Nigeria sets out on oil reform to curb corruption
The country's new president promises reform in oil policy and a war against the corrupt practises in the African nation
Muhammadu Buhari, who will take office as Nigeria’s president at the end of May, has a vision for the country’s troubled oil industry. With an end to terrorism in the Niger Delta and a culture-change war against corruption, investment will flow in and oil production will rise. Local oil-service companies will grow, environmental problems will be addressed — and rising tax receipts will make up for the fall in oil prices. Buhari has form as a decisive leader. As oil minister in the late-1970s he foresaw the competition Nigeria would face from North Sea oil, and introduced sharper marketing arrangements to challenge it. Less creditably, when head of a military government in the mid-1980s he wa
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
