Wednesday 3 August 2016

OIL MAJORS’ HY1 LOSSES MAY HURT NIGERIA’S 2017 REVENUE PROJECTIONS

Oil majors’ HY1 losses may hurt Nigeria’s 2017 revenue projectionsThe dip in profits reported by oil majors in their second-quarter 2016 outlook released last week may yet put further strain on Nigeria’s depleting oil revenue and 2017 budget projections, as taxes and royalties from their operations in Nigeria plateau.
 
This comes as OPEC’s crude oil output was disrupted in July by militant attacks in Nigeria and political disputes in Libya, according to a Bloomberg News survey.
 

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