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Buhari’s administration is trying to reverse dwindling production and attract major investment into the sector that generates more than 90% of export earnings. ....
Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector. ....
Nigeriaâs president restores four drilling permits revoked from Chinaâs Addax By William Clowes on 4/25/2021 (Bloomberg) Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of Chinaâs Sinopec. Buhari âapproved the restorationâ of the licenses to Addax Petroleum Corp. as part of his commitment to âthe rule of law and sanctity of contracts,â spokesman Garba Shehu said in an emailed statement Friday. The West African nationâs oil industry regulator, the Department of Petroleum Resources, announced the termination of the leases on April 6. The president directed the DPR âto retract the letter of revocation,â according to Shehu. He instructed the state-owned Nigerian National Petroleum Corp., which is in a partnership with Addax, to âresolve issuesâ in line with their contractual relationship, he said. ....
William Clowes, Bloomberg News Muhammadu Buhari Photographer: Drew Angerer/Getty Images , Photographer: Drew Angerer/Getty Images (Bloomberg) Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of Chinaâs Sinopec. Buhari âapproved the restorationâ of the licenses to Addax Petroleum Corp. as part of his commitment to âthe rule of law and sanctity of contracts,â spokesman Garba Shehu said in an emailed statement Friday. The West African nationâs oil industry regulator, the Department of Petroleum Resources, announced the termination of the leases on April 6. The president directed the DPR âto retract the letter of revocation,â according to Shehu. He instructed the state-owned Nigerian National Petroleum Corp., which is in a partnership with Addax, to âresolve issuesâ in line with their contractual relationsh ....
The Globe and Mail Ryan Enn Hughes Published August 13, 2009 This article was published more than 10 years ago. Some information in it may no longer be current. The is an excerpted version of a Globe Investor Magazine online feature. It ran in Friday s Globe and Mail. To read the full version click here. When Salida Capital Corp. beat all other bidders in a charity auction last month to score lunch with Warren Buffett, the $1.68-million (U.S.) win sent a signal to Bay Street: Salida is back. Salida, the once high-flying, resource-focused hedge fund manager known for its appetite for risk, became one of Canada s high-profile victims of last year s market meltdown when its flagship Multi Strategy Fund plunged 67 per cent and three of its hedge funds got locked up in the Lehman Brothers Holdings Inc. bankruptcy. ....