Nigerian Minister of Oil, Emmanuel Ibe Kachikwu said that Members of the Organization of the Petroleum Exporting Countries (OPEC) must lower production costs to compete better with shale producers.
The Nigerian Petroleum Development Company (NPDC) will see its production grow to 500,000 b/d by 2020, according to a new commitment made by the Nigerian National Petroleum Corporation (NNPC).
Sirius Petroleum has raised $2m in new capital for equipment mobilization deposits for the upcoming drilling campaign at the Ororo field, offshore Nigeria.