Nigeria "not ruffled" by oil price drop, OPEC must focus on costs - Kachikwu
By Respect Gwenzi, Feb 16, 2018
* Nigerian oil minister Emmanuel Ibe Kachikwu said he was "not ruffled" by the recent oil price decline and OPEC member nations needed to focus on their production costs
* "OPEC needs to just focus on itself and focus on what it needs to do and forget what is happening in shale ... Every OPEC producer must work hard to be a least-cost producer," he said
* Oil prices were trading at $64.40 per barrel on Thursday, just over 9 percent below the highs this year above $71 per barrel reached in January
* Nigeria, Africa's largest oil exporter, produces 2.07 million barrels per day (bpd), including 1.71 million bpd of crude and 362,000 bpd of condensates, a ministry spokesman said.
-Reuters

Top Stories
TSL Retreat from Nampak's $25 Mn Deal: An Immature Romance Doomed by Shareholder Scepticism
TSL Limited, a Zimbabwean conglomerate with interests in logistics, agrochemicals, and packaging, has terminated its US$25 million bid for a 51.43% stake in Nampak Zimbabwe, the country’s leading pack
Sep 17, 2025Weekly Currency Review: Is ZiG’s Stability Fundamentally Driven or Cosmetically Defined?
The local currency, the ZiG, has maintained a stable performance for nearly a year, marking a significant milestone in the country’s economic landscape. On September 16, 2025, the ZiG opened the week
Sep 16, 2025