NNPC Pledges 221,000bpd To Repay $5.5bn Loans

NNPC Pledges 221,000bpd To Repay $5.5bn Loans …C0NTINUE READING HERE >>>

The Nigerian National Petroleum Company (NNPC) Limited said it has pledged 221,000 barrels per day (bpd) of crude oil to meet its debt financing obligations, totalling $5.5 billion.

Data obtained from the 2023 Audited Financial Statement (AFS) of the national oil firm indicated that 90,000 barrels per day was pledged to service a $3.3 billion loan for Project Gazelle Forex stabilisation arranged and coordinated by the African Import Export Bank (AfreximBank).

The company also said it also…

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