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24 January 2020

Refineries posted 123.25billion naira loss in 10 months

The country’s refineries under the management of the Nigerian National Petroleum Corporation made a cumulative loss of one hundred and twenty-three point twenty-five billion from January to October 2019.

According to an analysis of data in the October 2019 oil and gas report of the NNPC that all three entities recorded losses during the period under review.

Findings showed that while KRPC posted a loss of forty-nine point three billion Naira in the ten-month period, PHRC and WRPC lost thirty-six point seven billion Naira and thirty-seven point twenty-four billion Naira respectively during the same period.

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