Abuja — The General Manager, Commercial of the Nigeria Liquefied Natural Gas (NLNG) Limited, Patrick Olinma, on Thursday disclosed that the average six months' intake of the company from sale of LNG to its customers at various destination markets has dropped by 30 per cent with the current volatility in the global prices of crude oil.
Olinma stated at the 2015 'commercial week' of the NLNG in Abuja that the volatility in price of Brent crude, upon which NLNG indexes its price for LNG, has ensured that this percentage drop in revenue was recorded within its six months average benchmark calculation.
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