Nigeria's state oil firm gains $1.39b from crude sales
Monday, 30 July 2007
ABUJA, July 29 (Xinhua): An official with the Nigerian Petroleum Development Company Limited (NPDC) announced here recently that the company gained 176.5 billion naira (about 1.39 billion US dollars) from crude oil sales in 2006.
NPDC, a flagship subsidiary under the state-owned company Nigerian National Petroleum Corp., also made a profit after tax of 19.7 billion naira (about 155.12 million US dollars), down 65 per cent compared with its 2005 performance.
Funso Adebiyi, the chairman of NPDC's board of directors, said that the revenue figure represented 11 per cent above the 162 billion naira (1.28 billion US dollars) recorded in 2005.
The amount was realised from the 21.2 million barrels of crude oil lifted from the Nigeria's Mystras oil terminal in 2006, Adebiyi said.
NPDC, a flagship subsidiary under the state-owned company Nigerian National Petroleum Corp., also made a profit after tax of 19.7 billion naira (about 155.12 million US dollars), down 65 per cent compared with its 2005 performance.
Funso Adebiyi, the chairman of NPDC's board of directors, said that the revenue figure represented 11 per cent above the 162 billion naira (1.28 billion US dollars) recorded in 2005.
The amount was realised from the 21.2 million barrels of crude oil lifted from the Nigeria's Mystras oil terminal in 2006, Adebiyi said.