Tag: Production Sharing Contact
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Nigeria lost $21 billion to oil Production Sharing Contact – Kachikwu
Minister of State for Petroleum Resources Ibe Kachikwu said yesterday that Nigeria has lost $21 billion to oil Production Sharing Contact (PSC) in the 20 years. According to him, previous governments failed to exploit the opportunity of the Deep Offshore Act that made provision for premium element to be shared once the price of crude…