International Oil Companies (IOCs) have been forced to scrap and postpone projects worth $380 billion in Nigeria and other countries since 2014 to survive the oil price crash, which yesterday dipped to $29.73, the weakest since February 2004.
Authoritative voice in global oil and gas dynamics, Wood Mackenzie, declared yesterday that $170 billion of projects planned between 2016 and 2020 had also been cancelled.
Read more @ New Telegraph
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