NNPC recorded N267bn loss in 2015 – Report

The Nigerian National Petroleum Corporation recorded a loss of N267.14bn in 2015, latest data from its group financial report for the month of December have shown.

According to the report, the national oil firm lost N11.861bn in the month of December alone, down from the N14.29bn loss recorded in November.

Its gross revenue for the 2015 financial year was put at N2.046tn, while its expenses were N2.3tn, leaving a loss of N267.138bn.

The refineries continued their poor performance throughout the year as the three of them posted a combined loss of N82.09bn in the period under review.

The Kaduna Refinery and Petrochemical Company lost N34.7bn, while the Warri Refinery and Petrochemical Company and Port Harcourt Refining Company lost N24.308bn and N23.09bn, respectively.