Oil prices to average US$65 a barrel in 2018

Oil prices are forecast to average US$65 a barrel over 2018, up from an average of US$53 a barrel in 2017, on strong demand from consumers and restraint by oil producers, the World Bank said in a recent report.

Elusive black gold chase cost N$25 billion

Oil companies have invested N$25 billion drilling for oil offshore Namibia since 1990, Vice Chairman of the Namibia Petroleum Operators Association, Dennis Zedveld, said this week.

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