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A sign is pictured outside the headquarters of Addax Petroleum in Geneva, Switzerland March 25, 2017. REUTERS/Denis Balibouse/File Photo
ABUJA (Reuters) - Nigeria’s president restored four oilfield licences to Addax, a company controlled by China’s Sinopec, his office said in a statement, overruling a previous revocation from the country’s petroleum regulator.
The restoration of the fields roughly three weeks after the Department of Petroleum Resources rescinded them was aimed to ensure “commitment to the rule of law, fairness and enabling a stable business climate for investment,” President Muhammadu Buhari’s office said in a statement.