About 116 companies have cut their 2015 capital budgets by 24 per cent, amounting to $120bn, as a result of continued crash in the prices of crude oil in the international market.
Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who disclosed this at the ongoing Nigeria Oil and Gas conference in Abuja yesterday, said the cut may go up to 40 per cent as prices continue to slide.
Read more @ National Mirror
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