The Nigerian
National Petroleum Corporation, NNPC, has disclosed that it lost N20 billion in
April due to attacks on Forcados Export Line by the Niger Delta Avengers.
In its Monthly
Financial and Operations Report for April released in Abuja on Wednesday, NNPC
said its revenue dipped in April by 4.99 per cent to N102.45 billion from N107.
83 billion recorded in March.
It states that
the corporation’s expenses also dipped by 3.82 per cent to N121.88 billion
compared to N126.72 billion spent in the preceding month.
It attributed
the drop to pipeline vandalism which forced one of its subsidiaries, Nigerian
Petroleum Development Company (NPDC), to undertake a production shut-in, which
resulted in the loss of monthly crude oil revenue of N20 billion.
It further
blamed the poor performance on losses recorded in the operations of Pipelines
and Products Marketing Company (PPMC) from the fuel scarcity recorded during
the period.
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