Minister calls on oil companies to speed up investment decisions
Minister of State for Petroleum Resources Heineken Lokpobiri has urged oil companies to reduce the time needed to reach Final Investment Decisions on projects. The supplied report does not give details of the minister’s timetable, the companies addressed or specific projects covered by the appeal.
Minister of State for Petroleum Resources Heineken Lokpobiri has urged oil companies to shorten the time required to reach Final Investment Decisions on projects, Punch Nigeria reported. A Final Investment Decision is the point at which a company approves proceeding with a project, but the supplied material gives no further explanation of the minister’s remarks. The report’s available headline and summary do not identify the companies involved or list particular developments affected by the appeal.
They also do not state what delays Lokpobiri addressed or what measures he proposed. His call was directed at oil firms and concerned the pace of investment decisions in the petroleum sector. No response from the companies, projected investment value or implementation deadline was provided in the material available.
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