30
May
The Public Interest and Accountability Committee (PIAC) has made a clarion call for the country to expedite processes to reverse declining crude oil production – warning that revenues from the sector will drop if nothing is done. The PIAC, a public watchdog over use and management of petroleum revenue, also cautioned that multi-billions worth of hydrocarbon resources risk being stranded in the face of the global energy transition if efforts are not made to intensify exploration, appraisal and development of oil assets. Having peaked at 71,439,585 bbls in 2019, crude oil production from the country’s three producing fields – Jubilee,…