From Uche Usim, Abuja
The Petroleum Products Marketing Company (PPMC), the downstream subsidiary of Nigerian National Petroleum Corporation (NNPC) realised ₦1.95 trillion from white products sale between October 2019 and October 2020.
Premium Motor Spirit (PMS) also known as petrol, accounted for about 99.07% of the total sales with a value of over ₦1. 9 trillion.
Specifically, ₦158.04 billion was netted from the sales of white products in October 2020, representing a 92% increase over ₦80.15 recorded the previous month.
The Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, who made the disclosure said the figure was contained in the October 2020 edition of the NNPC Monthly Financial and Operations Reports (MFOR).
The report indicates that total revenues generated from the sales of in terms of volume, the October 2020 sales figure translates to a total of 1.224.54 billion litres of white products sold and distributed by PPMC within the period compared with 603.39 million litres in the month of September 2020.
This comprised 1.224.20 billion litres of PMS, 0.31 million litres of Automotive Gas Oil (AGO) also known as diesel and 0.033 million litres of Dual Purpose Kerosene (DPK).
Total sales of white products for the period October 2019 to October 2020 stood at 16.462.50 billion litres and PMS accounted for 16.344.36 billion litres or 99.28%.
In the month under review, 23 pipeline points were vandalized representing about 10% increase from the 21 points recorded in September 2020. Of this figure, Mosimi Area accounted for 83% of the vandalized points while Port Harcourt Area accounted for the remaining 17%.
In the Gas Sector, a total of 214.07 Billion Cubic Feet (bcf) of natural gas was produced in the month October 2020, translating to an average daily production of 6,908.34 Million Standard Cubic Feet per Day (mmscfd).
The daily average natural gas supply to power plants increased by 8.60% to 745mmscfd, equivalent to power generation of 2,801Megawatts.
For the period of October 2019 to October 2020, a total of 3,018 BCF of gas was produced, representing an average daily production of 7,658.88 mmscfd during the period.
The October 2020 MFOR also indicates that period-to-date gas production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 68.18%, 20.12% and 11.70% respectively to the total national gas production.
In terms of natural gas off take, commercialization and utilization, out of the 208.96 BCF of gas supplied in October 2020, a total of 118.40 BCF of gas was commercialized, consisting of 38.07 BCF and 88.90 BCF for the domestic and export market respectively.
This translates to a total supply of 1,269.03mmscfd of gas to the domestic market and 2,870.57mmscfd of gas supplied to the export market for the month.
This 63rd edition of the MFOR highlights NNPC’s activities for the period of October 2019 to October 2020.
In line with the Corporation’s commitment of becoming more accountable, transparent and driven by performance excellence, NNPC has continued to sustain effective communication with stakeholders through this report via publications on its website and in national dailies.
