Refineries Idle For 12 Months, Incur N142bn Expenses     The nation’s refineries did not refine a barrel of crude oil in the 12 months to June this year but incurred a combined operating expense of N142.07bn, the latest data from the Nigerian National Petroleum Corporation have...

In Two Years, FG Refineries Post N406.62bn Loss     The four refineries owned by the Federal Government made a total loss of N406.62bn in two years, the latest audited financial statements of the plants have shown. The refineries, which are located in Port Harcourt, Kaduna and Warri,...

Refineries Earn N3.45bn, NAPIMS Makes N1.02trn – NNPC     The nation’s refineries generated a total revenue of N3.45bn in 2018 but their salary expenses and other expenses gulped N160.13bn, the Nigerian National Petroleum Corporation has said. It also disclosed that its investment arm made a profit of...

NNPC Releases Audited Financial Statements   The Nigerian National Petroleum Corporation (NNPC), as part of measures to improve transparency and accountability in its operations, has published its audited financial statements online for 2018. This is viewed as a reaction to the criticism that has been on the...

FG Refineries Suffer N19bn Loss In Two Months     The refineries owned by the Federal Government recorded a total loss of N18.96bn in the first two months of this year, the Nigerian National Petroleum Corporation has said. Latest data from the NNPC showed that the refineries, which...

Refineries Produced No Petrol In Eight Months – NNPC     No drop of petrol or kerosene was produced by any of the refineries under the management of the Nigerian National Petroleum Corporation for eight straight months. Latest figures released by the NNPC on refined white products (petrol...