Nigerian National Petroleum Company Limited (NNPC) is expecting a total of N442.37bn remittance from six international oil companies in August 2022.
Gatekeepers News reports that the N422.37bn was for 8.887 million barrels of oil for May 2022 domestic crude payable in August 2022, according to the data released by the NNPC which also noted that the six companies were joint venture partners of the national oil company.
It outlined the companies to include: Chevron Nigeria Limited, Mobil Producing Nigeria, and Nigerian Petroleum Development Company, the flagship upstream subsidiary of NNPC.
Others include: Total Exploration and Production Nigeria, First Exploration and Production, as well as Addax Petroleum.
Figures from the oil firm showed that Chevron will pay N162.24bn for 3.49 million barrels of crude oil, while N90.06bn for 1.9 million barrels of crude is expected from Mobil this month.
NPDC and Total are to remit N41.13bn and N47.26bn for 948,296 and 948,776 barrels of crude oil respectively.
Similarly, the recently commercialised company stated that First E&P and Addax will pay N33.498bn and N48.188bn for 650,071 and 948,251 barrels of crude oil in August.
In its remarks on the funds to be remitted by the firms, the national oil company stated that it was for “May 2022 domestic crude oil payable in August 2022 by NNPC in line with the 90 days payment terms.”
