Analysis of Oil Sales and Revenues in Nigeria, 2009-2015
Comparison of oil prices vs. Federation Account oil sale receipts, reported earnings vs. treasury receipts, oil-for-product swap deals, NNPC trading subsidiaries, and more in Nigeria from 2009 to 2015, including significant losses and contract holders.
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Presentation Transcript
Oil prices versus Federation Account oil sale receipts, 2009-2013
Reported domestic crude sale earnings versus treasury receipts, 2004-2013
The oil-for-product swap deals 210,000 barrels per day Oil worth around $7b/yr during Jonathan years Losses of at least $16 / barrel Total losses top $400 million per year
NNPC trading subsidiaries Nigerian Petroleum Development Company (NPDC) Oil sold = approx. 80,000 b/d Oil sale revenues = around $4 billion per year in 2012- 2013 Known transfers to the treasury = $0
