Following the global oil price crash that has seen Brent Crude decline by as much as 60%, Oando Plc said it has decided to cut down on its CAPEX and operating costs.
These are some of the immediate changes the Nigerian oil company is making in a bid to cushion the effects of the economic fallout from the oil price crash. Earlier, the company ensured to hedge all of its barrels just as a precautionary measure.
Oando’s Chief Operating Officer, Ainojie Alexander Irune, disclosed all these earlier this week when he joined CNN’s Julia Chatterley to talk about the global oil price crash and the effects on the Nigerian economy.
These are some of the immediate changes the Nigerian oil company is making in a bid to cushion the effects of the economic fallout from the oil price crash. Earlier, the company ensured to hedge all of its barrels just as a precautionary measure.
Oando’s Chief Operating Officer, Ainojie Alexander Irune, disclosed all these earlier this week when he joined CNN’s Julia Chatterley to talk about the global oil price crash and the effects on the Nigerian economy.