Contrary to the public posturing by some of the oil companies operating in Nigeria that their projects would not be affected by the slump in the price of crude oil, it has been gathered that most of the projects initiated by some of these companies are facing delays or outright cancellation.
This is coming as Addax Petroleum Development Company, last Monday, sacked over 90 per cent of the contract staff without prior notice, fuelling concern that the slump in oil price is taking its tolls on the company.
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