Nigeria: Unstable Crude Oil Prices Push NLNG Revenue Down By 30 Percent

14 May 2015

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.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.