{"id":14214,"date":"2017-06-13T12:47:46","date_gmt":"2017-06-13T11:47:46","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=14214"},"modified":"2017-06-13T12:49:48","modified_gmt":"2017-06-13T11:49:48","slug":"nnpc-posts-n34bn-q1-loss-as-crude-production-slumps","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/","title":{"rendered":"NNPC posts N34bn Q1 loss as crude production slumps"},"content":{"rendered":"<p>The group financial performance of the Nigerian National Petroleum Corporation recorded its third consecutive monthly loss in March as the oil firm reported a loss of N33.996bn in the first quarter of this year.<\/p>\n<p>According to the latest monthly financial and operations report for March 2017, the NNPC stated that crude oil production also decreased from 1.84 million barrels per day in January this year to 1.82 million bpd in February.<\/p>\n<p>The Nigerian Product Marketing Company and the corporate headquarters of the national oil firm posted the highest loses in the first quarter, after they lost N52bn and N37.54bn, respectively, dragging down the profits recorded by other subsidiaries of the group.<\/p>\n<p>The Nigerian Petroleum Development Company, Integrated Data Services Limited and National Engineering and Technical Company Limited were among some of the NNPC subsidiaries that made profits in the first quarter, as they recorded N37.17bn, N617m and N2.89bn, respectively as profits.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>Among the three refineries, only the Port Harcourt Refining Company posted a profit of N12.04bn in the review period.<\/p>\n<p>The Kaduna Refining and Petrochemical Company and the Warri Refining and Petrochemical Company recorded N2.42bn and N3.39bn as losses, respectively.<\/p>\n<p>On the slump in oil production, the NNPC said, \u201cIn February 2017, crude oil production in Nigeria decreased to 1.82 million bpd, which represents 1.05 per cent decrease relative to January 2017 production and also lagged behind February 2016 performance by 10.97 per cent.\u201d<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The group financial performance of the Nigerian National Petroleum Corporation recorded its third consecutive monthly loss in March as the oil firm reported a loss of N33.996bn in the first quarter of this year. According to the latest monthly financial and operations report for March 2017, the NNPC stated that crude oil production also decreased &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":12119,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[188],"coauthors":[2392,2393],"class_list":["post-14214","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-nnpc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NNPC posts N34bn Q1 loss as crude production slumps - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPC posts N34bn Q1 loss as crude production slumps - National Wire\" \/>\n<meta property=\"og:description\" content=\"The group financial performance of the Nigerian National Petroleum Corporation recorded its third consecutive monthly loss in March as the oil firm reported a loss of N33.996bn in the first quarter of this year. According to the latest monthly financial and operations report for March 2017, the NNPC stated that crude oil production also decreased &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-13T11:47:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-06-13T11:49:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/04\/NNPC-Logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"770\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/04\/NNPC-Logo.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/04\/NNPC-Logo.jpg\",\"width\":768,\"height\":770},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/\",\"name\":\"NNPC posts N34bn Q1 loss as crude production slumps - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/#primaryimage\"},\"datePublished\":\"2017-06-13T11:47:46+00:00\",\"dateModified\":\"2017-06-13T11:49:48+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NNPC posts N34bn Q1 loss as crude production slumps\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NNPC posts N34bn Q1 loss as crude production slumps - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/nnpc-posts-n34bn-q1-loss-as-crude-production-slumps\/","og_locale":"en_US","og_type":"article","og_title":"NNPC posts N34bn Q1 loss as crude production slumps - National Wire","og_description":"The group financial performance of the Nigerian National Petroleum Corporation recorded its third consecutive monthly loss in March as the oil firm reported a loss of N33.996bn in the first quarter of this year. 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