There are strong indications that the Federal Government is looking to review the commercial terms of deep-water Production Sharing Contracts in order to increase its share of revenue from the PSC production.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, dropped the hint at the 45th Convocation Ceremony of the University of Nigeria, Nsukka, where he made a presentation on ‘Oil Resource Management and Implications on National Security and Economic Survival, a copy of which was obtained by our correspondent.
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