President Muhammadu Buhari. The Ministry of Petroleum Resources will soon present a long-awaited oil and gas reform bill to the president aimed at boosting output and attracting foreign investment, three sources close to the negotiations told Reuters. The reforms, 20 years in the making, are particularly urgent this year as low oil prices and a shift towards renewable energy have made competition tougher to attract investment from oil majors. Fiscal uncertainty has delayed a decision on a multi-billion dollar expansion by Royal Dutch Shell and its partners, while Chevron, Total and ExxonMobil are selling various Nigerian assets. A spokesman for the Petroleum Ministry, which led the bill’s drafting, did not reply to a request for comment and the president’s office declined to comment. “We hope that the final bill would be one that would unlock potential investments that Nigeria’s rich resource base truly deserves,” a spokesman for Shell companies […]