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Started December 2
May 12, 2020 in Oil Trading
Look them up yourself! How lazy can you get!
Hello everyone, My name is Toritseju Temisanren my friends call me Toju for short. Oil and Gas professional from Nigeria, and I'm delighted to be here
I keep reading bad news about the oil industry in Nigeria. Is the theft of oil controllable or it is a cost of doing business you will always have to put up with? And I have read that the cost of production is too high in Nigeria. Is Nigeria going to go out of the oil business?
An article today on oilprice.com mentions Nigeria:
The article says: "Oil sales contribute 90% of the country's foreign exchange earnings; 60% of the revenue and 9% of GDP. With a high fiscal breakeven of $144 per barrel, Nigeria is finding itself dire straits with IOCs needing $35-$40/barrel to break even."
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