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GCE Economics 1990 Question 30

Question 30

Natural Resources and Petroleum

Which of the following is not done by the NNPC?

  1. A.Production of crude oil
  2. B.Refining of crude oil
  3. C.Exploration for crude oil
  4. D.Exploitation of crude oil
  5. E.Pricing of crude oil.
Show the answer and explanation

Answer: E (Pricing of crude oil.)

Explanation

NNPC explores, produces and refines oil, but the price of crude is fixed through OPEC (see Q17).