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 Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article