Nigeria: 'Nigeria's Crude Oil Revenue May Decline By U.S.$10 Billion in 2015'

24 April 2015

Abuja — Should crude oil prices remain volatile, averaging $53 in 2015, the Oil Producers Trade Section (OPTS) has estimated that Nigeria's revenue from oil and gas sales could be cut by about $10 billion or 30 per cent.

OPTS, through its chairperson and Managing Director of Total Upstream Companies in Nigeria, Elisabeth Proust, said on Thursday at the 2015 Oloibiri Lecture Series and Energy Forum (OLF) in Abuja that low crude oil prices have significantly reduced the level of investible funds at a time when competition for investments is sharpening.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.