’Femi AsuThe Nigerian National Petroleum Corporation has said some of its partners are producing a barrel of crude oil in the country at $93, a development it described as unacceptable. Last week, the Senate Committee on Finance condemned in strong terms the explanation by the NNPC that it spent $21 to produce a barrel of oil. He said, “Some of our partners are producing oil at $93 per barrel. “You cannot explain this gap between one company producing oil at $93 per barrel and another at $9. “We have clear visibility around having a $10 oil production cost by the end of 2021.

Source: Punch June 10, 2020 23:03 UTC