OIL COMPANIES SUSPEND BIG PROJECTS AMID FALLING PRICES

The jitters being sent by the continuing slide in the prices of crude oil in the international are being felt not only by the government but by the oil majors, which are unwilling to commit resource into big deepwater projects, ‘FEMI ASU writes


With a number of international oil companies choosing to maintain a disciplined and selective approach to capital spending this year after earnings slumped in 2013, a continued decline in global oil prices could stall some deepwater projects in the country

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