Daily crude oil production in Nigeria dropped by 38,000 barrels in July to 1.37 million barrels, a new report by the Organisation of Petroleum Exporting Countries showed on Wednesday.
AOI said they produced an average of 28,000 bpd in Q2??
I think Mgmt is worried about its 50% Prime's RBL credit redetermination in Sept that sits at US$1.6 billion. That could be the reason they didn't take the impairment charge so as not to blow a big hole on their balance sheet.