Sunday, September 26, 2021

    Nigeria Must Develop Oil Finds Just to Keep Output Steady: Chart

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Paul Burkhardt

    Africa’s biggest oil-producing nation has recovered from years of militant attacks on its infrastructure, and fields such as Total SA’s Egina will further buoy output.

    Yet recent discoveries must be exploited just to maintain total production, according to consultants Rystad Energy.

    That’s no easy task for Nigerian National Petroleum Corp., which warned Tuesday that oil prices below $50 would threaten its business.

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