Kanade21:


Basically, we are looking for money where we can get it...and if increasing local content in domestic oil extraction helps us save more money for the treasury..so be it.

Note that whatever revenue we earn from oil is what's left over from the costs of extracting the oil.

(Nothing to do with refining oil...that's a whole different matter...for now we are talking about bringing up the crude from the ground).

Even then, in my opinion, it won't be enough so long as oil remains low.But right now....Nigeria needs the cash.

Sorry, I'm still confused with your write-up. What do you mean by increasing local content?

Do you mean increase production volume?

YorubaPrince:


Sorry, I'm still confused with your write-up. What do you mean by increasing local content?

Do you mean increase production volume?

No.

Just using more locally produced stuff to extract oil from ground, unstead of using imported stuff, which raises the production cost.

Doing that should help us get some more revenue from extracting one barrel of oil.

(Whether we have the capacity is another matter)

Ok











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