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
Invictus Energy’s Share Price Rally Biggest Since 2023 After Al Mansour’s US$25M Investment, US$500M Future Commitment
Invictus Energy, an Australian-listed exploration company with a market capitalisation of approximately US$55 million, experienced a dramatic surge in its share price, rising from AUD 0.050 on August
Aug 27, 2025