In August the NNPC’s operating deficit halved from N11.9bn the previous month to N5.7bn (US$19m). Before central costs and ventures, a profit from production (N28.0bn) covered the losses from refineries (N4.6bn) and retail/marketing (N13.4bn). The corporation’s Financial and Operations Report for August notes a welcome pick-up in crude output (including condensates) in July to 2.01 ...
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