Nigeria to Spend $100 Billion in Oil and Gas Exploration

Bloomberg reported that in the next five years, Nigeria will spend $100 billion to explore for crude and gas.

As quoted in the market news:

Nigeria is the fifth-biggest source of U.S. crude imports. Shell, Exxon Mobil, Chevron, Total SA and Eni SpA operate joint ventures with the state-owned Nigerian National Petroleum Corp. that pump about 90 percent of the country’s crude.

Click here to read the full Bloomberg report.