‘Nigeria Oil Production May Drop By 35% In Ten Years’

LAGOS FEBRUARY 14TH (NEWSRANGERS)-Nigeria’s oil production could drop by 35 percent in the next ten years as regulatory uncertainty and costs amid languishing oil prices may prompt oil majors to postpone final investment decisions on three major deepwater projects, consultancy Wood Mackenzie told Reuters on Thursday. OPEC member Nigeria is the largest oil producer in…

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Oil Price Drops Sharply As Saudi Output Seen Returning Soon After Attacks

LAGOS SEPTEMBER 17TH (NEWSRANGERS)-Oil prices dropped sharply on Tuesday after a top Saudi Arabian source told Reuters production could be fully back on line within weeks, quicker than initially thought following weekend attacks that cut halved the kingdom’s output. Saturday’s attacks raised the specter of a major supply shock in a market that in recent…

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