Bloomberg Nigeria’s powerful state oil company, whose finances and operations have been shrouded in secrecy for decades, is opening itself up to greater public scrutiny. The Nigerian National Petroleum Corp (NNPC) published its 2018 annual report, which contained an audited account of all its 20 units for the first time in its 43-year history. The 2019 figures are set to ...

Bloomberg Occidental Petroleum Corp sold $2 billion of high-yield bonds to help push out its steep maturity wall. The company issued unsecured bonds in three parts, including a $500 million five-year bond with a yield of 8%. It also priced a $500 million seven-year note at a yield of 8.5%, and a $1 billion 10-year bond with a yield of ...

Bloomberg India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry. Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar and accounted for 25% of Venezuela’s exports last year, has no plans at the moment to make future purchases, according to people with knowledge of the ...