According to the statement, NNPC recorded an operating deficit of Naira 24.23 billion ($123 million) in February and March, on the back of attacks on the Forcados crude export line that resulted in the loss of the entire oil export revenues of its subsidiary, the Nigerian petroleum Development Company, NPDC.
The impact of the attack was significant in a country where Chevron’s net daily production in 2014 averaged 240,000 barrels of crude oil, 236 million cubic feet of natural gas and 6,000 barrels of liquefied petroleum gas, according to the company.
09 May 2016, Warri – The activities of Niger Delta Avengers, the new militant group in the oil-rich region, have forced…
Inadequate gas supply, blamed on vandalism of gas pipelines, has been the bane of the power sector. Power generation in the last one year has been so unstable, ranging from a high of 5,000Megawatts a few months ago to a low of about 1,455Megawatts.
