Era of $30/bbl production cost gone, NNPC tells foreign, local oil firms

  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,…

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