Wednesday 11 February 2015

IOCS CUT BACK ON EXPLORATION OVER RISING COST

Oil exploration in the country looks set to take a further knock this year as rising extractive costs linger amid lower crude prices that have forced International Oil Companies to cut capital expenditure.
 
Extractive cost in the industry is said to have been increasing by 10 per cent in the last few years and is now a big cause for concern for industry players as it takes a toll on investments.
 

No comments:

Post a Comment