Nigeria Oil Advisor: No New Leases in 2008

The oil adviser to Nigeria's president, Emmanuel Eghobah, told reporters at CERA Week in Houston Feb. 13 that Nigeria will not be offering new oil and gas leases. Though the West African country has held lease sales in each of the last three years, Eghobah stated that Nigeria will not hold another oil and gas lease sale until 2009 or 2010.

Nigeria is Africa's largest exporter of crude oil and the fifth-largest importer of the United States.

Shell, Exxon Mobil, Chevron, Agip, and Total are all current operators in Nigeria.

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