2 October 2018

Nigeria: Robust Oil Revenue, Others Boost NNPC's Trading Profit

Abuja — The Nigerian National Petroleum Corporation (NNPC) has declared another trading surplus worth N18.12 billion for the month of May 2018, a performance it reported to be relatively higher than the N17.16 billion it recorded in April 2018.

A statement issued yesterday by the corporation's Group General Manager, Public Affairs, Mr. Ndu Ughamadu, explained that the May 2016 operational surplus was supported by robust oil revenue, reduced operational costs especially of its exploration and production subsidiary - the Nigerian Petroleum Development Company (NPDC), and increased oil production to 1.97 million barrel a day (mbd).

In May, Brent crude oil reportedly traded for an average of $76 per barrel, while Nigeria according to the NNPC produced an average of 1.97mbd of oil.


Techpoint to Boost African-Owned Startups With U.S.$10,000 At Pitch Storm

Focusing on technologically enabled early stage startups in the stages of prototyping and building an actual product,… Read more »

See What Everyone is Watching

Copyright © 2018 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 140 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.