Nigeria Oil Licenses to Await Passage of New Industry Law

Nigeria, Africa’s biggest oil producer, won’t award new oil exploration licenses until lawmakers pass a reform bill now being considered, Department of Petroleum Resources Director Osten Olorunsola said.

“You need firm commitment and firm predictability of the law,” he said in a Feb. 21 interview in Abuja, the capital. “We have to wait for the bill to be passed.”