Sao Tome’s Oil Rejection: A warning signal Nigeria must not ignore

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Sao Tome’s Oil Rejection: A warning signal Nigeria must not ignore

« on: July 21, 2026, 01:02:44 am »

Sao Tome’s Oil Rejection: A warning signal Nigeria must not ignore

Sao Tome and Príncipe rejected bids for its three offshore oil blocs after its 2026 licensing round attracted only Brazil’s Petrobras and Nigeria’s Oranto Petroleum. The decision surprised many because the island nation of Central Africa had offered investors unusually generous terms, including up to 85 per cent ownership of the oil blocs. Ordinarily, the […]
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