The Group Managing Director has disclosed that Nigeria Loses N53bn Oil Revenue in Three months due to incessant attack by the Niger Delta Avengers.
He also revealed that Nigeria crude oli export have been decreased by 7.8million per barrel between January and March 2016
The Group Managing Director of the NNPC, Dr. Maikanti Baru, had on Thursday said that pipeline losses of the PMS volume of over 643 million litres valued at over N51.28bn were incurred in 2015.
This, therefore, means that the oil revenue losses recorded in the first three months of 2016 were N2.4bn higher than what the country recorded as the PMS losses in the whole of last year.
The CBN, in its economic report for the first quarter of 2016, stated that Nigeria’s crude oil production, including condensates and natural gas liquids, was estimated at 1.82 million barrels per day or 165.62 million barrels for the period under review.
This, it said, represented a decline of 0.07mbd or 3.7 per cent, relative to 1.89mbd or 173.88 million barrels produced in the fourth quarter of 2015.
