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LequteMan
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Nigeria- Crude oil exploration in Nigeria might be suspended following oil company's resolve to cut down on spending as a result of the oil crash, a PwC report says.
Excerpt from Punch:
Part of the potential impact of a drastically reduced oil price on Africa is that oil companies may be forced to suspend further exploration in Nigeria, PricewaterhouseCoopers has said.
In a new report entitled, ‘Fit for $50 oil in Africa’ the company said oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price.
It noted that Africa had seen substantial successes in the exploration for hydrocarbons over the last decade, including the entry of new country players with East Africa joining the ranks of their West African neighbours.
ciick here to read more
SOurce: Punch
#Nigeria
Excerpt from Punch:
Part of the potential impact of a drastically reduced oil price on Africa is that oil companies may be forced to suspend further exploration in Nigeria, PricewaterhouseCoopers has said.
In a new report entitled, ‘Fit for $50 oil in Africa’ the company said oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price.
It noted that Africa had seen substantial successes in the exploration for hydrocarbons over the last decade, including the entry of new country players with East Africa joining the ranks of their West African neighbours.
ciick here to read more
SOurce: Punch
#Nigeria
