Oil, Gas: Global Crisis Hurting Investments, Says Barkindo - THISDAY

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mohammed Sanusi Barkindo, has attributed the dwindling rate of investment in the Nigerian oil and gas sector to the current global financial crisis.

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He also said the federal government, as part of the energy sector reform was planning massive investments in the NNPC by capitalising the subsidiaries. Speaking during an inspection visit to Mosimi Depot, a unit of the Products and Pipelines Marketing Company (PPMC) a subsidiary of the NNPC, Barkindo said the slow pace of investments was not peculiar to oil and gas companies or Nigeria, but a global issue.

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