The Nigerian National Petroleum Corporation, NNPC, has declared a trading surplus of N13.43billion for November 2020, 54 per cent more than the N8.71billion recorded in October 2020.
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Nigeria’s three refineries under the management of the Nigerian National Petroleum Corporation (NNPC) have not made any profit or produce a drop of fuel |
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Oil export revenue declines 41%
On
By Obas Esiedesa
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, has revealed.
NNPC had, in its September 2020 edition of the Monthly Financial and Operations Report (MFOR) disclosed that revenue from oil and gas export for the month of September, 2020, rose by 16 percent to $120.49 million.
But a closer look at previous months’ data contrasted with corresponding months’ figures in 2019 which shows a huge cumulative decline in revenue from oil export.