NNPC Profit Plunges 65% in February on Lower Oil Output
The Nigerian National Petroleum Company has reported a profit after tax of N136 billion for February, down from N385 billion in the previous month.
The company’s monthly report summary released on Saturday shows revenue rose to N2.68 trillion from N2.57 trillion in January.
Total crude oil and condensate production fell to 1.51 million barrels per day from 1.64 million bpd in January, while natural gas output rose to 7.46 billion standard cubic feet per day from 7.28 billion scfpd.
