The battle for barrels: Nigeria research trip takeaways

Wood Mackenzie's analysts held discussions with major IOCs, indigenous operators, lenders and industry bodies during our week in Lagos. Key talking points included: 2022 was about surviving the crude theft and pipeline downtime crisis Industry at yet another crossroads over PIA implementation and OML conversion Investment paused while operators secure barrels and evaluate PIA implications Significant concerns about the state of the oil sector; fears of declining investment and production Oil producers diversifying into midstream gas M&A log-jam needs a political solution This report is available as a slidepack.