Government to earn $8.75m from new 175,000bpd oil production

PHOTO: FinancialTribune The Federal Government’s revenue drive has got a lift with additional $8.750 million or N2.668 billion to be derived from fresh 175,000 barrels of oil equivalent per day from Shell’s Gbaran-Ubie Phase 2. The new production is approximately the equivalent of 864 million standard cubic feet of natural gas per day (mmscf/d), and …

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