Revenue for the period was positively impacted by high product prices, with realised average crude oil price increasing by 82 per cent , natural gas by 38 per cent , and NGL by 31 per cent . These, in addition to an eight per cent increase in traded crude oil volumes , and a 39 per cent increase in traded refined products contributed to an overall increase in revenue of 68 per cent.
However, revenue growth was negatively impacted by a 40 per cent decline in production due to increased sabotage activities.operating profit of N78.8bn in 2021 was driven by higher revenue as well as a reversal of asset impairments totalling N104.
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