NNPC has released its 2015 Full year report posting a whopping N267 billion loss. This was the first time in decades that Nigerians are seeing NNPC’s results. Here are the key highlights;
- According to the report total of 706,242,496 barrels of crude were lifted during the year
- Value of crude lifted for the year was $37,558,046,367
- Three of the countries three refineries posted combined losses of N82 billion.
- KRPC, PHRC and WRPC posted losses of N34.6, N23 billion and N24.3 billion respectively
- PPMC also posted a loss after subsidy of N57 billion during the year
- The biggest contributor to the loss was however its Company Head Quarters which posted a loss of N162.7 billion
- The report did not show operating expenses which would have shed more light into how efficient its operations are.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.