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LequteMan
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Nigeria - The Chairman, Petroleum Technology Association of Nigeria, PETAN, Mr. Emeka Ene, has decried government’s failure to tackle the challenges facing local oil operators as a result of the crash in oil prices, Vanguard reports.
“What I expected to have happened is that everybody should have been brought to a round table to discuss the issues and the challenges and threats they pose, and collaborate on the way forward
“But it has been very tough and it has been so because what the government did was to pass the baton and heap the sole responsibility on Nigerian companies and the operators. They told companies to cut costs by 30percent in order to remain competitive.
“But the service companies can’t afford to cut such costs, because of their peculiar circumstances so they will suffer and eventually die off.” In view of the negative impact these would have on the economy, Ene urged the incoming government to be led by Gen. Muhammadu Buhari to come up with proactive policies that will salvage the industry and the economy at large.
“Our expectation is for the new government to continue to sustain the growth of the industry through favorable policies because the industry right now is undergoing some challenges,” he said.
#Nigeria #Okonjo #Oil
“What I expected to have happened is that everybody should have been brought to a round table to discuss the issues and the challenges and threats they pose, and collaborate on the way forward
“But it has been very tough and it has been so because what the government did was to pass the baton and heap the sole responsibility on Nigerian companies and the operators. They told companies to cut costs by 30percent in order to remain competitive.
“But the service companies can’t afford to cut such costs, because of their peculiar circumstances so they will suffer and eventually die off.” In view of the negative impact these would have on the economy, Ene urged the incoming government to be led by Gen. Muhammadu Buhari to come up with proactive policies that will salvage the industry and the economy at large.
“Our expectation is for the new government to continue to sustain the growth of the industry through favorable policies because the industry right now is undergoing some challenges,” he said.
#Nigeria #Okonjo #Oil
