The Nigerian National Petroleum Company (NNPC) Ltd has recorded a profit of N2.548 trillion in 2022.
The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977.
The financial report stated that it recorded a loss of N803 billion in 2018 and N1.7 billion loss in 2019.
According to the report, in 2020 the company recorded N287 billion profit which it tagged “Turning Point” while in 2021, the company’s profit continued to grow to N674.1 billion tagged “Assurance”.
The report stated that the profit continued to rise up to N2.548 trillion in 2022.
The NNPC Ltd. had between December 30, 2023 and January 5, 2024 recorded 157 incidents of crude oil theft from seven incident sources and arrested 17 suspects.
NNPCL: No plans to increase petrol price
The sources included the Nigeria Agip Oil Company, Pipeline Infrastructure Nigeria Ltd, Maton Engineering Ltd, Tantita Security Service Ltd, Shell Petroleum Development Company (SPDC), NNPC Command and Control centre and Government Security Agencies.
Its report stated that in the past week, 52 illegal refineries were discovered and destroyed in Abia, Imo, Rivers and Bayelsa states while 32 illegal connections were uncovered in several parts of the Niger Delta.
They were removed and repaired along central corridor in the Niger Delta while seven illegal storage sites were uncovered in Akwa Ibom State and buried crude drums unearthed in bushes in Bayelsa and Warri, Delta.
The company said there was no backing down on the menace until it was eradicated.
The Emir of Kano, Muhammadu Sanusi II, has strongly condemned violence against women and child…
The United States Congress is holding a joint session today to examine concerns over religious…
Federal Reserve Governor Stephen Miran has resigned from his position as chairman of the White…
The Osun State Police Command has arrested four suspects over the killing of a 35-year-old…
No fewer than 35 residents have been killed after bandits struck in Woro Village, Kaiama…
The Yobe State Police Command has arrested 26 men for alleged illegal tree felling and…
This website uses cookies.