65 Pipeline Points Vandalise in April

The Nigerian National Petroleum Corporation has said 65 pipeline points were vandalised in the month of April by criminals.

In the corporation report released on Wednesday for the month of April, NNPC said this represents a 240 percent increase from the 19 points recorded in the month of March 2020.

The report also noted that Nigeria’s total crude oil production rose by 3.17 million barrels or 5.28 percent to 63.19 million barrels in the month of March, representing a daily average of 2.04 million barrels per day.

Meanwhile, in another related development, the NNPC said it incurred over 200 percent operating deficit in the month of April.

It said, “The report in April 2020 indicates an increased trading deficit of N30.81bn compared to the N9.53bn deficit posted in March 2020.

“The current hike of over 200 per cent is attributed to the 29 per cent increased deficit for NPDC due to ongoing coronavirus-related impact of reduced exports, coupled with the upsurge in corporate headquarters deficit arising from terminal benefits made to retired staff.”