Audio By Carbonatix
Nigeria is discussing exploration of its deep water oil acreage with Petrobras, years after the Brazilian oil giant exited the West African nation, Nigeria's Foreign Minister Yusuf Tuggar said.
"Petrobras is no longer active in Nigeria, but they are very keen on coming back to Nigeria.
They said they want frontier acreage in deep waters," Tuggar was quoted in a statement from the vice president's office as saying.
Brazil is due to host the BRICS summit and COP30 this year after hosting the G20 meeting last year.
Nigeria plans to promote investment at these summits as the African nation seeks to deepen ties with Brazil in areas such as energy, health, culture, and agriculture.
The Brazilian state energy firm said in February it was in talks with companies, including existing partners ExxonMobil, Shell, and TotalEnergies, to buy a share of their African assets.
Petrobras began operations in Nigeria in 1998 in the deep waters off the coast of the Niger Delta. But it sold off its stakes more than 10 years ago to raise cash for domestic projects.
Latest Stories
-
Dafeamekpor chairs Kenpong Travel’s 2026 World Cup Travels management team
12 minutes -
Group petitions OSP, EOCO,AG, over alleged unlawful role of unlicensed firm in GoldBod operations
51 minutes -
Ghana in Praise 2026 set to open new year with national worship gathering
53 minutes -
Keeping Ofori-Atta for 8 years was Akufo-Addo’s worst decision – Winston Amoah
1 hour -
Whose security? whose interest?: U.S. military action, Nigeria’s internal failure, and the dynamics of ECOWAS in West Africa
2 hours -
Abuakwa South MP names baby of 13-year-old teenage mother after First Lady
2 hours -
Police thwart robbery attempt at Afienya-Mataheko, 4 suspects dead
2 hours -
Don’t lower the bar because things were worse before – Kojo Yankson on Mahama gov’t
3 hours -
Jefferson Sackey rallies support for Dr. Bawumia
3 hours -
2024 elections helped stabilise Ghana’s democracy – Sulemana Braimah
3 hours -
Playback: 2025 Year in Review
4 hours -
Ghana’s crypto transactions hit $10bn by November – SEC
4 hours -
SEC says VASP law will protect investors, ensure market integrity
4 hours -
Mandatory Smart Port note will increase cost of doing business – Coalition of exporters, importers and traders
4 hours -
Banda MP hands over police station, quarters to Banda Boase communityÂ
4 hours