Uche Usim, Abuja
The Nigerian National Petroleum Corporation (NNPC), on Sunday released its Monthly Financial and Operations Report (MFOR) for March, and declared it made N174.62 billion revenue from the sale of white products.
The figure according to the company’s Spokesman, Ndu Ughamadu, is higher than the N168.65billion recorded in February 2019.
The national oil company also recorded 111 vandalised pipeline points within the period, indicating a 19 per cent drop from the 137 points recorded in February 2019. Ibadan –Ilorin and Benin –Ore axis accounted for 46 per cent of total pulverised points, while breaks in other locations made up the balance.
Ughamadu explained that the total revenue generated from the sale of white products from the period March 2018 to March 2019 stood at N2,780.79billion, with Premium Motor Spirit, otherwise called petrol contributing about 91.09 per cent or N2,533billion.
In terms of volume of the total sales by the NNPC Subsidiary, the Petroleum Products Marketing Company (PPMC), in March 2019, the report said a total supply and distribution of 1.36billion litres of white products was made, compared with 1.33billion litres of February 2019.
A further products breakdown indicated that the March volume comprised 1.29billion litres of petrol, 0.023billion litres of Dual Purpose Kerosene (DPK), and 0.047billion litres for the diesel component.
Total sale of white products distributed for the period, March 2018 to March 2019, stood at 21.99billion litres, with petrol accounting for 20.63 billion litres or 93.8 per cent. The report stated that 6.4billion litres of special products were sold during the period.
In the Gas sector, the MFOR disclosed that gas production increased by 15.4per cent at 263.48billion cubic feet compared to the output in proceeding period of February 2019. This translated to an average daily production of 8,499.58million standard cubic feet of gas per day (mmscfd).