News Formal

Nigeria National Petroleum Company Limited's Financial Statement Reveals Structural Defects

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 12 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 57%
  • Publisher: 94%

Business News

Nigeria,National Petroleum Company,NNPCL

The first post-restructuring financial statement of the Nigeria National Petroleum Company Limited (NNPCL) has exposed the structural defects of the oil company as it seems to thrive more on product trading and less as an upstream operator. On its face value, the company has grown its profit exponentially to N2.52 trillion ($2.7 trillion). But the performance is relatively low compared with its peers such as Petronas, Qatar Energy, Petrobras and Saudi Aramco.

The first post-restructuring financial statement of the Nigeria National Petroleum Company Limited (NNPCL) has exposed the structural defects of the oil company as it seems to thrive more on product trading and less as an upstream operator.

On its face value, the company has grown its profit exponentially to N2.52 trillion ($2.7 trillion). But the performance is relatively low compared with its peers such as Petronas, Qatar Energy, Petrobras and Saudi Aramco.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Explosion in Ibadan: Company Responsible for Storing Explosives IdentifiedGovernor Seyi Makinde has identified the company responsible for storing the explosives that caused the explosion in Ibadan. He promises to bring the culprits to justice and ensure the welfare of the victims. An Emergency Operation Centre has been set up to oversee search and rescue efforts.
Source: PremiumTimesng - 🏆 3. / 78 Read more »