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 NNPC records N378bn loss in 8 months

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smile2012
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PostSubject: NNPC records N378bn loss in 8 months   Mon 12 Oct 2015, 5:49 am

The Nigerian National Petroleum Corporation, NNPC, has announced a loss
of N378.49 billion in its operations for the first eight months of the year.
One of NNPC’s subsidiaries, the
Products and Pipeline Marketing
Company Limited, PPMC, accounted for
majority of the losses, as it spent over
N300 billion on subsidy and in the
repairs and management of its
pipelines between January and August.
In the figures presented by NNPC’s
Monthly Financial and Operations
Report for August, obtained over the
weekend, NNPC posted a loss of
N60.669 billion and N51.714 billion for
the months of July and August,
respectively.
The loss resulted from expenses being
higher than its revenue in the period
under review.
Specifically, NNPC recorded a total revenue of N1.17 trillion, lower than an
expenditure of N1.55 trillion, leaving a deficit of N378.49 billion.
In the month of July, NNPC recorded revenue of N149.198 billion and
expenses of N200.126 billion, while in August, the group posted N146.617
billion revenue and expenses of N207.287 billion.
Refineries’ loss
The heavy losses were as a result of the lacklustre financial performance of
majority of the NNPC subsidiaries in the eight-month period, especially the
refineries and retail subsidiaries.
Particularly, Kaduna, Port Harcourt and Warri refineries companies posted a
combined loss of N48.92 billion, while NNPC Retail and PPMC recorded a
combined loss of N275.16 billion.
Further analysis of the operation of strategic business units showed that
Kaduna Refinery and Petrochemical Company Limited posted a loss of
N21.90 billion; Port Harcourt Refining Company recorded a loss of N15.1
billion, while Warri Refinery and Petrochemical Company lost N12.62 billion.
NNPC Retail posted a loss of N3.679 billion, while the PPMC recorded
N278.837 billion loss. On the other hand, Nigerian Petroleum Development
Company, NPDC; Integrated Data Services Limited, IDSL; Nigeria
Engineering and Technical Company Limited, NETCO and Nigerian Gas
Company, NGC, posted profits of N50.995 billion, N2.934 billion, N544
million and N19.239 billion, respectively.
In its explanations, NNPC stated that 73 percent year-to-date NNPC deficit
of N378 billion was accounted for by the PPMC deficit of N278 billion.
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Olukay
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PostSubject: Re: NNPC records N378bn loss in 8 months   Mon 12 Oct 2015, 6:37 pm

They are all thieves. Buhari will blow them off soon.
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smile2012
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PostSubject: Re: NNPC records N378bn loss in 8 months   Mon 12 Oct 2015, 6:46 pm

laff in Spanish...
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Safex
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 7:25 am

Theoretic loss! Lol
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ancl
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:06 pm

@Olukay wrote:
They are all thieves. Buhari will blow them off soon.
Seconded
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peter pan
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:10 pm

Buhari can't do anytin. We are in democracy bro
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peter pan
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:11 pm

Nah nigeria palava
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ancl
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:13 pm

Bro buhari is President of federal republic of Nigeria, it hv power to fire any body he employed take that
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peter pan
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:16 pm

@ancl wrote:
Bro buhari is President of federal republic of Nigeria, it hv power to fire any body he employed take that
we have judeciaries okay.
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peter pan
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:18 pm

He can't do anytin without judeciaries report
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ancl
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:25 pm

@peter pan wrote:
He can't do anytin without judeciaries report
Lol you don't get it NNPC Staff base on appointment which chosen by Mr president senate only need to screen the person, but when it come to fire and staff from that sector senate approve didn't required
So Mr peter if you are lucky be among this ministers rembr my post when you want to behave like fayose cos sai baba is watching flower flower
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peter pan
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:29 pm

@ancl wrote:
@peter pan wrote:
He can't do anytin without judeciaries report
Lol you don't get it NNPC Staff base on appointment which chosen by Mr president senate only need to screen the person, but when it come to fire and staff from that sector senate approve didn't required
So Mr peter if you are lucky be among this ministers rembr my post when you want to behave like fayose cos sai baba is watching flower flower
bro forget about fire. This buhari u knw can't think of it talk more of doing it.
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ancl
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:35 pm

@peter pan wrote:
@ancl wrote:
@peter pan wrote:
He can't do anytin without judeciaries report
Lol you don't get it NNPC Staff base on appointment which chosen by Mr president senate only need to screen the person, but when it come to fire and staff from that sector senate approve didn't required
So Mr peter if you are lucky be among this ministers rembr my post when you want to behave like fayose cos sai baba is watching flower flower
bro forget about fire. This buhari u knw can't think of it talk more of doing it.
haha lol! cos you marry tinubu child abi yeye
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peter pan
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:46 pm

@ancl wrote:
@peter pan wrote:
@ancl wrote:
@peter pan wrote:
He can't do anytin without judeciaries report
Lol you don't get it NNPC Staff base on appointment which chosen by Mr president senate only need to screen the person, but when it come to fire and staff from that sector senate approve didn't required
So Mr peter if you are lucky be among this ministers rembr my post when you want to behave like fayose cos sai baba is watching flower flower
bro forget about fire. This buhari u knw can't think of it talk more of doing it.
haha lol! cos you marry tinubu child abi yeye
if i do? I for be the minister of petrolume nah
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ancl
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PostSubject: Re: NNPC records N378bn loss in 8 months   Tue 13 Oct 2015, 12:50 pm

@peter pan wrote:
@ancl wrote:
@peter pan wrote:
@ancl wrote:
@peter pan wrote:
He can't do anytin without judeciaries report
Lol you don't get it NNPC Staff base on appointment which chosen by Mr president senate only need to screen the person, but when it come to fire and staff from that sector senate approve didn't required
So Mr peter if you are lucky be among this ministers rembr my post when you want to behave like fayose cos sai baba is watching flower flower
bro forget about fire. This buhari u knw can't think of it talk more of doing it.
haha lol!  cos you marry tinubu child abi yeye
if i do? I for be the minister of petrolume nah
Haha Lol big dream Abeg wake up
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NNPC records N378bn loss in 8 months
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