News
NNPC Targets $43.6bn Revenue In 2013
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu has called for a bigger budget allocation for its operations to enable NNPC achieve the $43.6 billion revenue target for year 2013.
Yakubu made the request at the 2012/2013 budget Defence session by the House Committee on Petroleum Resources (Upstream) headed by Hon. Ajibola Muraina (PDP-Oyo). According to him, the revenue projection was based on $75 per barrel and 2.455 million barrels per day in 2013.
He explained that the sum of $13.84 billion would be required for its operations in 2013 in order to achieve the work plan on both existing and new oil exploration, adding that $13 billion would be required for the aeromagnetic survey that would jump-start new frontier exploration activities.
On the 2012 budget performance, he disclosed that out of $12.7 billion appropriated for NNPC operations, the Federal Government released the sum of $10.4 billion while the corporation achieved $6.3 billion revenue as at September 2012.
Yakubu added that the work plan of the corporation for exploration and production activities was based on concession granted under the joint ventures agreement, just as he assured on ongoing efforts toward exploring new basins’ frontiers apart from the Lake Chad exploration operations.
News
Group Doles out N13m To Market Women In Isiama
News
Fubara’s Return Excites NCSU … As Hope Rises For Civil Servants
News
NDDC Organizes ADR Capacity Building for Staff
-
News5 days ago
WE’VE DUTY TO MAKE PEACE IN RIVERS PERMANENT – FUBARA …..Says He Won’t Take Mr President’s Kindness For Granted
-
Maritime5 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
News5 days ago
NDDC Organizes ADR Capacity Building for Staff
-
Opinion5 days ago
Marked-Up Textbooks:A Growing Emergency
-
Oil & Energy5 days ago
Dangote Refinery Resumes Gantry Self-Collection Sales, Tuesday
-
News5 days ago
Scrap JAMB Age Limit Admission, Parents Beg FG
-
Sports5 days ago
Sunderland Keep Villa Winless
-
News5 days ago
Fubara’s Return Excites NCSU … As Hope Rises For Civil Servants