Nigeria leans on oil majors to hold down petrol before its January vote

Nigeria is capping petrol supply costs near 1,350 naira a liter, asking refiners and importers to eat the gap when crude runs hot and recoup it later. At the same time it opened 40 oil blocks, chasing more output ahead of January's election. Chevron Corporation (CVX) and ExxonMobil (XOM) both pump there, so the pull between cheaper pumps and new acreage lands on their Nigerian operations.