The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter of 2021, a document presented to the Federation Account Allocation Committee (FAAC) at its April 20-21 meeting, has shown. The value of the crude, both export and domestic for February, was 97 per cent higher than that of January which was N134.35 billion. Similarly, crude oil export revenue received in March amounted to $93.37 million, equivalent to N35.72 billion, representing a 204 per cent increase compared to February’s receipts. “Nigeria maintained 1.426 million bpd OPEC production cut in 1Q21. The overall NNPC crude oil sale valued at N267.59bn (export & domestic crude) in February 2021 is 97.71 per cent higher than N134.35 billion recorded in January 2021,” NNPC stated. Domestic gas receipts in the month were N5.75 billion, while […]