$20bn Oil Theft: Reps Grill DPR, Summon NNPC, CBN
The House of Representatives has continued its investigation of diverted and stolen crude oil in Nigeria valued at $20m, with its Ad Hoc Committee on Oil Theft grilling top officials of the Department of Petroleum Resources.
While...
Nigeria’s Idle Refineries Record N6bn Operational Expenses
Without production, Nigeria’s three national refineries recorded N6 billion operational expenses last October.
The total value of output by the refineries for the period under review was N0.51billion, which resulted in an operating deficit of N5.49 billion by the...
N49.68bn Spent On Pipeline Repairs In Ten Months – NNPC
With the challenge of pipeline vandalism lingering in the country, the Nigerian National Petroleum Corporation spent almost N50bn to repair and manage pipelines in 10 months.
The NNPC’s latest monthly report showed that a total of...
Refineries Lost N152.08bn In 15 Months Of Being Idle
The nation’s refineries lost a total of N152.08bn in 15 consecutive months of being idle, the latest data from the Nigerian National Petroleum Corporation have shown.
Analysis of data collated from NNPC monthly reports revealed that all...
Oil Export Revenue Drops By 41%
Revenue from oil export fell by a whopping 41.44 percent to $2.033 billion in the first nine months of 2020, compared to $3.47 billion received in the corresponding period of 2019, data from the Nigerian National Petroleum Corporation, NNPC,...
Three Refineries Incur N5.92bn Expenses At Zero Production - NNPC
The Nigerian National Petroleum Corporation (NNPC) has reported its three refineries incurred N5.92 billion expenses in September 2020 at zero production level.
According to its September 2020 Financial and Operations Report, which The Economic Confidential obtained...
