(Bloomberg) -- The state-owned Nigerian National Petroleum Corp. said full-year profit jumped by almost a third and signalled increasing oil production.
The company reported profit of 3.3 trillion naira ($2.1 billion) in the 12 months through December, compared with 2.55 trillion naira a year earlier, it said in a presentation at a media briefing in the capital, Abuja, on Monday. Revenue totaled 24 trillion naira, it said, without providing a comparative figure.
The West African nation is producing 1.75 million barrels per day of crude and condensates this month, Oritsemeyiwa Eyesan, executive vice president of the company’s upstream division, said at the briefing. That compares with an average of 1.56 million barrels per day in the year-to-date, she said.
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