‘Petroleum upstream capital expenditure drops by 74% to $6b’

Between 2014 and last year, upstream petroleum industry capital expenditure (CAPEX) dipped to $6 billion from $27 billion. Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, in an interview with The Nation, said there had been a 74 per cent decline in CAPEX. The commission, he said, realised the negative impact of underinvestment […]