Nigeria’s state oil company NNPC recorded a loss of $1.9 billion in the first eight months of 2015 mainly because of fuel subsidy spending, it said in a publication that seeks to bring transparency to the organization. At least 73% of the loss was due to deficit spending by its Pipelines and Products Marketing unit […]
Revenues from Nigeria’s oil sales declined by over two-thirds between September last year and July this year with “dire consequences” for Africa’s largest economy, the country’s state-run oil giant said Sunday. “The receipts witnessed a sharp decline of more than 67 percent from September 2014, when the receipt was at its peak, to July 2015 […]
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