Okechukwu NnodimThe Nigerian National Petroleum Corporation posted a group operating loss of N68.84bn between January and October 2017. According to the latest oil and gas report from the firm, the corporation made a group revenue of N3.05tn and an expense of N3.119tn during the period under review. Two of the country’s refineries, Kaduna Refining and Petrochemical Company and Warri Refining and Petrochemical Company, recorded deficits of N24.3bn and N14.95bn, respectively during the period under review. The Port Harcourt Refining Company, on the other hand, posted a surplus of N28.65bn during the 10-month period. It said the corporation “recorded a trading deficit of N0.41bn (in October 2017) which is significantly lower than the previous month’s deficit of N2.81bn.

Source: Punch January 06, 2018 23:37 UTC