LAGOS, Nigeria — Guinea’s military ruler Capt. Moussa Dadis Camara was flown to Morocco for medical treatment on Friday, a day after he survived an apparent assassination attempt, dealing another blow to the stability of the tiny, mineral-rich nation in West Africa.

Guinea’s ruling military junta, the National Council for Democracy and Development, placed troops at the airport and throughout the capital city, Conakry, according to Western diplomats. CNDD officials said the situation was under control.

Capt. Camara was flown out of Guinea on a plane provided by Burkina Faso President Blaise Compaore, according to a senior aid worker who has spoken with diplomats in Conakry.

Government officials said Capt. Camara was shot by Abubakar “Toumba” Diakite, the commander of the presidential guard and a former top aide. President Compaore, who has been leading international mediation efforts to quell Guinea’s political crisis, said Capt. Camara would need an operation to treat his wounds, Reuters reported.

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WARRI, Nigeria — Western oil companies operating in Nigeria are racing to lock up license renewals ahead of legislation that could boost tax and royalty rates.

Amid the negotiating scramble, several big players are expected to recommit to community-development programs and local infrastructure projects. Royal Dutch Shell PLC has even agreed to offer business training to former gun-toting militants in the volatile, oil-rich Niger Delta, following a government-sponsored amnesty here.

A sense of urgency arose among the Western oil majors after the Nigerian government said earlier this year it had received an expression of interest from oil-thirsty China to buy the rights to the expiring licenses. Nigerian officials confirmed in September that China’s state-owned Cnooc Ltd. was interested in more than 20 oil blocks, including nonexpiring blocks currently operated by Western companies.

China’s chances of actually acquiring the leases from the government were never very good. Apart from legal avenues Western companies could pursue to prevent their licenses from being taken and given to the Chinese, Western operators in Nigeria have been pumping oil for years and have longstanding, though sometimes volatile, relations with Abuja.

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By WILL CONNORS

LAGOS, Nigeria — Exxon Mobil Corp. ended months of negotiations with Nigeria by renewing three oil leases for fields the company operates in the country, an Exxon spokesman said.

The three leases — for sites that produce more than 550,000 barrels a day — were extended for another 20 years with an option to renew, at a signing ceremony Friday in the capital, Abuja.

Neither Exxon nor the Nigerian government provided details about the price paid for renewing the leases.

A person close to the deal said the government had asked for about $4 billion for the leases, but that Exxon paid less than $1 billion.

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Oando becomes major player in African country long dominated by foreign energy companies

By SPENCER SWARTZ and WILL CONNORS

LAGOS, Nigeria—In a few months, Oando PLC, a small oil company here, is expected to take a rare step for any Nigerian company by applying for a listing on the London Stock Exchange. The move is an indication of something even more unusual about Oando: it is in position to become this oil-rich country’s first major energy company.

The Nigerian oil market has for years been dominated by major foreign players like Royal Dutch Shell PLC, whose advanced technology and know-how have allowed this West African state to become the world’s eighth-biggest oil exporting nation. But Oando, under chief executive Wale Tinubu, has bucked traditional investor views of Nigerian oil firms, most of which have little track record for being able to execute challenging oil projects.

Oando is parlaying its position as Nigeria’s leading fuel retailer—a status it built just in the last few years—into plans to be a bigger, integrated oil company. With strong management that is seen as credible to the broader investment world, Oando, which is audited by PricewaterhouseCoopers, has separated itself from a raft of other small local players.

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BY NGUYEN ANH THU IN VIETNAM, DARCY CROWE IN VENEZUELA, AND WILL CONNORS IN NIGERIA

The U.S. dollar, once universally accepted as the world’s strongest currency, has been trounced in recent months by everything from the euro to the Brazilian real to the South Korean won. But in the back-alley markets where business is done in many of the world’s developing economies, the dollar still reigns.

In jewelry stores in Vietnam, taxicabs in Venezuela and outdoor markets in Nigeria, black-market money-changers say the dollar is still the currency of choice, even though its value has fallen in some cases.

“The U.S. dollar is losing value, but not here in Vietnam,” said Vu Manh Quynh, a…

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By WILL CONNORS

LAGOS, Nigeria—China Petroleum & Chemical Corp. has made an offer to the Ghanaian government to jointly bid for a stake in a major oil discovery off the coast of the West Africa country, according to a person familiar with the matter.

Sinopec, represented by Neil Bush, the younger brother of former U.S. President George W. Bush, recently made an offer to the Ghana National Petroleum Corp. to form a joint bid for a stake in the Jubilee field, the person said.

GNPC officials rejected the initial offer, according to the person, and are waiting to hear from all potential partners before making a decision.

Mr. Bush couldn’t be reached for comment.

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By WILL CONNORS

LAGOS, Nigeria — The Vatican’s invitation to Anglicans could have far-reaching repercussions across Africa, where about half of the world’s 80 million Anglicans now live.

African clergymen have been some of the harshest critics of their Anglican colleagues in the West, whom they accuse of liberally interpreting the Bible. But it’s far from clear whether churches here, many of which have already distanced themselves from Anglican churches in the U.S., Canada and England, would see the need to embrace the Vatican’s offer.

Unlike the more tightly controlled Catholic Church, Anglican churches in Africa are largely autonomous, operating with a level of freedom that they wouldn’t likely enjoy under Rome’s fold.

Archbishop Peter Akinola, head of the Church of Nigeria, and the spiritual leader of Africa’s 40 million Anglicans, is “still weighing the implications of the Vatican’s offer” and is consulting with colleagues, according to an aide reached by telephone Wednesday.

Still, the Vatican’s offer may appeal to many who follow Africa’s conservative strain of Anglicanism. African church leaders have adopted an especially tough line on homosexuality, a cultural taboo across the continent. In many countries, homosexuality is illegal and associated with Satanism. Nigeria, home to 18 million Anglicans, recently beefed up its anti-sodomy law to include prison sentences for men who live together and for those who “aid and abet” gays.

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By WILL CONNORS

ABUJA, Nigeria – A number of foreign banks, including four South African institutions and a British firm, have expressed interest in buying into Nigeria’s troubled banks, said central bank chief Lamido Sanusi.

In August, Mr. Sanusi orchestrated a $2.6 billion bailout of five Nigerian banks, which the central bank said were teetering because of mismanagement and underperforming loans. Four additional banks were bailed out this month, with an additional cash injection of $1.3 billion.

Mr. Sanusi has suggested he’d try to find domestic and foreign investors for the troubled banks. In an interview Thursday, Mr. Sanusi said he expected a number of healthier Nigerian banks to express interest in stakes, probably with foreign partners.

He said, however, that the central bank wasn’t inclined to have any one bank attain more than a 20% market share in Nigeria’s domestic banking sector. He said the central bank would likely step in to prevent a deal that would create a combined bank with a greater market share.

“I would probably stop it,” he said.

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By Will Connors
Of THE WALL STREET JOURNAL

LAGOS, Nigeria — Kosmos Energy said Monday it signed an exclusive deal with Exxon Mobil Corp. (XOM) to sell its stake in a significant oil discovery off the coast of Ghana, the first confirmation from either company of the deal, said to be worth $4 billion.

“I can confirm that Kosmos has entered into an exclusive binding agreement with a third party (an affiliate of Exxon Mobil) in relation to the sale of its Ghana assets,” Kosmos Senior Vice President and Chief Financial Officer Greg Dunlevy said in an email to The Wall Street Journal.

The announcement comes a day after it emerged that China National Offshore Oil Corp. (CEO, 0883.HK), or Cnooc, is in advanced talks with Ghana National Petroleum Corp. to make a rival bid for Kosmos’ stake in the field, known as Jubilee.

Dunlevy did not disclose the deals’ price tag, but sources told the Journal over the weekend that the deal was worth an estimated $4 billion.

(This story and related background material will be available on The Wall Street Journal Web site, WSJ.com.)