With the slide in global oil prices showing no sign of abating and further driving down the Federal Government’s receipts from oil sale, production from joint venture operations in the country looks set to continue its downward trend.
Production from joint venture companies including Shell, ExxonMobil, Chevron, Total, and Pan Ocean has over the past few years declined, partly due to funding constraints occasioned by the inability of the Nigerian National Petroleum Corporation to meet its share of cash calls.
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