![THE GROUP MANAGING DIRECTOR NIGERIAN NATIONAL PETROLEUM COMPANY [NNPC] DR EMMANUEL IBE KACHIKWU WITH JOURNALISTS DURING HIS WORKING VISIT TO KADUNA REFINERY ON WEDNESDAY. PHOTO:OLU AJAYI.](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vS0TE02ZxLMLxUMA0Yw19rrU4-KgxLQ0lcKNmUq9AivBSkuRiIZBz8WFuUG3UzHU15I7ykKrPhELyzpcjWRrcqFBDXCZmri4b0xBIUzfb1zPrBNzKFoYF5SXcLIBDRQMvXDr3dSPG9p5fa-eoG1okVimqZDOmxd2EIuVuH4BR1-9jcAKJ6DQO1RI8sf-9zwZQ2rwXg6F03xA=s0-d)
The Nigerian National Petroleum Corporation, NNPC, said, weekend, that despite losing N230billion annually from marketing and refining operations, the Corporation was not broke. It also disclosed that it owes over $6billion in cash call arrears.
NNPC insisted that there was no way the Corporation can be broke, given its assets base and equity holding in the petroleum industry.
Read more @ Vanguard Online
The Nigerian National Petroleum Corporation (NNPC) may have rejected the plea by prospective winners of the Shell Petroleum Development Company (SPDC) $5 billion assets to operate some of the oil fields.
The assets include the Oil Mining Lease (OML) 29 and the 97-kilometre Nembe Creek oil pipeline. Shell, which is the operator of the oil fields, has sold its 30 per cent equity stake in each of them to new owners that would be unveiled soon.
Read more @ New Telegraph
