The Nigerian National Petroleum Corporation (NNPC) has declared to Oil producers in the country that the era at which they are allowed to spend $30 to produce a barrel of crude oil no longer exist. NNPC has earlier begun aggresive action to get oil producers in the country to produce at $10 per barrel and the Group Managing Director of the Corporation, Mallam Mele Kyari, stated on Thursday that the COVID-19 hangover on Nigeria’s oil economy, which dipped oil price in the region of $30 – $40 per barrel,…
Read MoreEra of $30/bbl production cost gone, NNPC tells foreign, local oil firms
