Nigeria Secures Second Exclusion From Opec Output Freeze

29 May 2017   Nigeria

Nigeria again got members of the Organisation of Petroleum Exporting Countries (OPEC) and its other non-producers allies led by the Russian Federation, to exempt it from limiting the volume of oil it can produce from its oil fields within the extended production freeze agreement they reached at their second meeting in Austria, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has disclosed. This is just as the Nigeria Extractive Industries Transparency Initiative (NEITI) applauded the passage of the Petroleum Industry Governance Bill (PIGB) by the Senate, and thus asked members of the House of Representatives to find similar courage employed by the senators, to accelerate the passage of its own version of the bill. Kachikwu, stated that the country and Libya, were exempted from the output freeze despite speculations they would be made to participate in the extended agreement. He however noted the country was […]

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