Brazil’s national oil company Petroleo Brasileiro (Petrobras) is set to complete the sale of its Nigerian Assets which are valued at 2 billion naira this year. The company joins IOCs like Shell, Total, Agip and Exxon Mobil who are also divesting from Nigeria’s oil and gas sector. Biodun Adesanya, Managing Consultant of Degeconek joins CNBC Africa to explain the trend and what it could mean for Nigerian oil companies.
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