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Vol 41 No 8

Published 14th April 2000


King Oil, again

Ambitious plans for a competitive oil industry still have to beat graft and political infighting

Near the top of the list for President Bill Clinton's trip to Nigeria in June are the Abuja government's plans for a huge expansion of the oil industry, which could make the country the world's second biggest oil exporter after Saudi Arabia in ten year's time. The United States already buys about a third of Nigeria's crude oil output of some 2 million barrels a day (bpd) and has an appetite for more. Yet Washington worries about two big issues: political stability after the turmoil of the first nine months of the new civilian government and the almost intractable corruption and mismanagement that plagues the oil business.

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