NNPC can’t account for 65,000 barrels of oil daily - NewsBlist

BY HENRY UMORU & INALEGWU SHAIBU

ABUJA – The Nigeria National Petroleum Corporation, NNPC, yesterday failed to give account of 65,000 barrels of crude oil out of the 445,000 barrels of crude allocated to it daily for domestic consumption.

Making the first public account of the utilization of its domestic allocation at the Senate public hearing on the management of the fuel subsidy regime of the Federal Government, the corporation’s officials also disclosed that 20% of the cost of imported fuel represented the component associated with importation.

Nigeria’s brent crude was selling at $97.89 yesterday translating to a daily $6.362 million or N939 million daily that cannot be accounted for..........http://www.vanguardngr.com/2011/12/nnpc-cant-account-for-65000-barrels-of-oil-daily/