Nigeria risks losing 38% deepwater oil output 2025 – Operators
Punch Newspapers Sections ’Femi Asu The fiscal terms in the current Petroleum Industry Bill may lead to a 38 per cent reduction in Nigeria’s deepwater oil production in 2025, an industry group comprising international and indigenous oil firms in the country has said. The operators also said the country could lose over 30 per cent of its deepwater production potential by 2030. “The current PIB 2020 does not improve the investment environment for new project FIDs (final investment decisions) to be taken,” the Oil Producers Trade Section said in a document seen by our correspondent. The ...
Source: punchng.com