Oando boss upbeat on Nigerian oil bill

Wednesday, June 25, 2014 - 10:00

The chief executive of Toronto-listed Oando Energy Resources (TSE:OER), Pade Durotoye, thinks the Petroleum Industry Bill (PIB) will not have a negative impact on the company.
Oil majors are reportedly unhappy with the proposed fiscal terms in the long-awaited bill, but Durotoye says it will benefit companies of Oando's size.
The bill has not hindered the group in its $1.65bn acquisition of ConocoPhillips' Nigerian upstream oil business -- a deal which was completed last week.

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