NNPC Records N2.197trn Revenue From Petrol Sales

… Posts N24.19bn Trading Surplus In December

The Nigerian National Petroleum Corporation said it generated a total of N2.197trn from the sales of petrol in December 2020.

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According to the December 2020 edition of the NNPC Monthly Financial and Operations Report, white products for the period December 2019 to December 2020 stood at N2.217trn.

In the Downstream, 2.26billion litres of white products were sold and distributed by PPMC in the month of December 2020 compared to 1.72 billion litres in the month of November 2020.

This comprised 2.254 billion litres of petrol, translating to 72.72million litres/day, 11.40 million litres of Automotive Gas Oil (diesel) and 0.48 million litres of kerosene.

It stated, “Total sale of white products for the period of December 2019 to December 2020 stood at 18.456 billion litres and petrol accounted for 18.325billion litres or 99.29 per cent

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“In monetary terms, the volume translates to a value of ₦288.77bn recorded on the sale of white products by PPMC in the month of December 2020 compared to ₦226.08bn sales in November 2020.”

The report shows that in December 2020, 43 pipeline points were vandalized representing about 18.60 per cent increase from the 35 points recorded in November 2020.

Mosimi Area accounted for 56 per cent of the vandalized points, while Kaduna Area and Port Harcourt accounted for the remaining 33 percent and 12 per cent respectively.

Similarly, in the Gas Sector, natural gas production in December 2020 stood at 213.34 Billion Cubic Feet translating to an average daily production of 6,881.83million standard cubic feet of gas per day (mmscfd).

It stated, “Out of the 208.61BCF of gas supplied in December 2020, a total of 146.72BCF was commercialized; consisting of 42.90BCF and 103.82BCF for the domestic and export market respectively.

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“This translates to a total supply of 1,383.93mmscfd of gas to the domestic market and 3,349.00mmscfd of gas supplied to the export market for the month.

“This implies that 70.33 percent of the average daily gas produced was commercialized while the balance of 29.67 percent was re-injected, used as upstream fuel gas or flared.”

The Corporation also recorded an increase of 80.12 per cent in trading surplus for the month of December 2020 which stands at ₦24.19bn compared to the ₦13.43bn surplus recorded in November 2020.

According to the report, the operating revenue of the NNPC Group in December 2020 as compared to November 2020 increased by 33.44 per cent or N137bn to stand at N546.65bn.

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