ANGOLA REMAINS TOP OIL PRODUCER DESPITE NIGERIA’S RECOVERY

Five months after it overtook Nigeria as Africa’s top oil producer, Angola retained the status in July despite a reported increase of 147,400 barrels per day in Nigeria’s production, data from the Organisation of Petroleum Exporting Countries have shown.

 

OPEC, in its Monthly Oil Market Report for August, which was released on Wednesday, put crude oil production from Nigeria at 1.527 million bpd in July based on direct communication, up from 1.379 million bpd in June.

 

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NNPC YET TO REMIT $1.48BN INTO FEDERATION ACCOUNT –FG

Four Months after former President Goodluch Jonathan directed the Nigerian National Petroleum Corporation to refund $1.48bn (N291.56bn) into the Federation Account, the corporation has yet to do so.

An international audit firm, PricewaterhouseCoopers, was last year hired to carry out a forensic audit of the corporation following an allegation by the former Governor of the Central Bank of Nigeria, Lamido Sanusi, that $49bn was not remitted to the Federation Account by the NNPC.

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