1 Country Plaguing Big Oil's Profits
For over 30 years, Nigeria has been the largest oil-producing nation on the African continent, but recent woes from some of the major players there might start to put that status at risk. Royal Dutch Shell , far and away the nation's largest oil producer outside of the national oil company, anticipates that it will spend $12 billion to cover issues related to theft, sabotage, and embargoes that have caused the company to declare force majeure -- another way of saying that it can't meet its obligations -- on its LNG contracts in the region.
Shell isn't the only one, and it appears that some of these other companies are simply starting to walk away. Tune into the video below where Fool.com contributors Tyler Crowe and Aimee Duffy investigate who is losing patience in Nigeria and what companies will be in the market to buy these troubled assets.
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The article 1 Country Plaguing Big Oil's Profits originally appeared on Fool.com.Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter @TMFDuffy and @TylerCroweFool, respectively.The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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