The Nigerian National Petroleum Corporation says it has reduced cash call arrears owed to international oil companies, its Joint Venture partners, by $1.5bn. The corporation has cash call arrears of $5.1bn.
Group Managing Director of NNPC, Dr Maikanti Baru, said this at the 12th National Conference of the Nigerian Association for Energy Economics/International Association for Energy Economics,in Abuja on Monday.
He also disclosed that 783 million Standard Cubic Feet of gas per day was flared in 2018.
Baru said that 2018 marked the second year without the corporation incurring any cash call arrears. Read more