The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has warned that the Federal Government will be compelled to halt oil production if the cost of production remains high.
He disclosed this yesterday while speaking at the opening ceremony of the Nigeria Annual International Conference and Exhibition organised by the Society of Petroleum Engineers in Lagos.The minister noted that only oil companies that are able to drive down costs will thrive in the country with the high production costs.
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