$15bn investment, Nigeria’s competitiveness under threat over new d’water royalty
Contrary to high hopes that the emerging regime of increased deepwater royalty payable by oil majors to the Federal Government will amass revenue for the economy, international oil companies (IOCs) plus their local allies under the aegis of the Oil…
Strange as both IOCs, FG decry none review of PSCs but weak to do the needful
For several years now, there had been high level of discomfort against the provisions of the prevailing Production Sharing Contracts (PSCs) in the Nigerian upstream petroleum sector both by International Oil Companies (IOCs) and the Federal Government. Almost all leading…
NNPC claims crashing production cost from $78 in 2015 to $23/barrel now
… saves minimum of $3billion per annum Barely one week after the Minister of State for Petroleum Resources announced that cost of oil production is getting out of hand and Nigeria may dump the industry if it persists, the Nigerian…
