Showing posts with label Oil Price; Nigerian National Petroleum Corporation; OPEC; Saudi Arabia. Show all posts
Showing posts with label Oil Price; Nigerian National Petroleum Corporation; OPEC; Saudi Arabia. Show all posts

Friday, August 05, 2016

Saudi Arabia’s Oil Price Cut Threatens Nigeria’s ₦820b Revenue Target

• Country loses ₦300b monthly to production shut-in
The expected oil-related ₦820 billion revenue to finance the 2016 budget is being threatened by the recent reduction of prices for Arab light by the world’s highest producer of crude oil, Saudi Arabia.