Tags : NNPC

Oil Production Hits 1.2mbpd In December

The Nigerian Upstream Petroleum Regulatory Commission has said that crude oil production in Nigeria rose to 1.235 million barrels per day in December 2022. This is the highest output since March when the country produced 1.237mbpd. Figures obtained from the commission showed that oil production increased from 1.185mbpd in November to 1.235mbpd in December. Crude […]Read More

Gas Revenue Up 64.3% To N119.4bn In Q1’22

Latest data from Nigerian National Petroleum Corporation has shown that Nigeria’s revenue from gas sales rose by 64.32 percent in the first quarter of 2022 (Q1’22). This is an increase  to N119.4 billion compared to N72.64 billion recorded in the corresponding period last year. NNPC data also showed that gas revenue in the first quarter […]Read More

NNPC Got N1.7tn From Crude Sales In 12 months

The Nigerian National Petroleum Corporation has said that it made N1.7 trillion as revenue from crude oil sales in one year. The corporation’s latest monthly and financial report for August said the sum was earned from March 2020 to March 2021. This came after the corporation lifted a total of 108 million barrels of crude […]Read More

Crude Oil Exports Jump by 194% 

Figures from the Foreign Trade Report of the National Bureau of Statistics had said that Nigeria’s crude oil exports jumped to N5.6 trillion in the first quarter of 2022. This reflects nearly 200 percent increase when compared to the same period in 2021. NBS said that Nigeria’s total merchandise trade stood at N13 trillion in […]Read More

Nigeria’s oil output drops 13.3% to 1.3 mbpd

The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s oil output at 1.3 million barrels per day, bpd, in April 2022. This is a decrease of 13.3 percent compared to 1.5 million bpd recorded in the corresponding period of 2021. According to the May 2022 Monthly Oil Market Report, MOMR, of OPEC, Nigeria remains […]Read More

Nigeria Made N374.8bn From Gas Sale In 2021

Reports obtained from the Nigerian National Petroleum Company Limited showed that Nigeria made about N361.43 billion from gas export and N13.36bn from domestic gas sale in 2021. The data from the oil firm showed that the Federal Government through NNPC garnered the funds from the sale of Natural Gas Liquids/Liquefied Petroleum Gas, as well as […]Read More

Nigeria Generates Over $3bn From Non-oil Export

The Nigerian Export Promotion Council has said that the country exported non-oil products worth $3.455bn in the 2021 fiscal year. The Executive Director, NEPC, Mr Ezra Yakusak, who said this while speaking at a seminar organised by the council in Owerri, Imo State,  added that it was an increase from $2.21bn generated in 2020. Yakusak, […]Read More

In Nine Months, NNPC, Refineries’ Post N123.64bn Deficit

Between January to September 2021, the Nigerian National Petroleum Company Limited has revealed that it posted, alongside three Nigerian refineries, a combined deficit of N123.64bn. The report, which was contained in the September 2021 report, indicated that while the cumulative deficits of the three refineries during the period was N46.52bn, NNPC  posted a deficit of […]Read More

Nigeria Spent $1.04bn On Fuel Imports In 2021

According to data obtained from the Central Bank of Nigeria,foreign exchange used for the importation of petroleum products into Nigeria fell to $1.04bn last year from $1.32bn in 2020. Fuel imports remain a major user of foreign exchange, even as many businesses still lament the inability to access forex at the official rate and the […]Read More

Nigerian Refineries Rehabilitation Gulped N100bn In 2021

The Nigerian National Petroleum Company Limited has said it spent N100bn on refineries’ rehabilitation in 2021. In a report disclosed by the agency, the funding performance of the oil firm from January to December 2021, NNPC noted that the funds were pumped into revamping the facilities on a monthly basis last year. Although no refinery […]Read More