Oil and gas explorer fails to find financial backing to plug £132m funding gap caused by Brent crude’s international price nosedive

Plummeting oil prices and internal boardroom upheaval have forced the London-listed Afren exploration company into administration.

Crisis management consultants from AlixPartners were brought in after Afren failed to find financial backers to meet a growing cash crisis at the firm, which produces oil in Nigeria and the Kurdistan region of Iraq.

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Source: The Guardian Circular Economy RSS