The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC) recorded N158.04 billion from the sale of white products in the month of October 2020 representing 92 per cent increase over the N80.15 billion sale recorded in September 2020.
The figure is contained in the October 2020 edition of the NNPC monthly financial and operations reports uploaded on its website on Thursday.
According to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, the total revenue generated from the sale of white products for the period October 2019 to October 2020 stood at N1.95 trillion, with Premium Motor Spirit (PMS) accounting for about 99.07 per cent of the total sales with a value of over N1. 9 trillion.
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 per cent.
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In the month under review, it revealed that 23 pipeline points were vandalized representing about 10 per cent increase from the 21 points recorded in September 2020. Of this figure, Mosimi Area accounted for 83 per cent of the vandalized points while Port Harcourt Area accounted for the remaining 17 per cent.
In the gas sector, a total of 214.07 billion cubic feet 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. The daily average natural gas supply to power plants increased by 8.60 per cent to 745 million standard cubic feet per day, equivalent to power generation of 2,801 megawatts.
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 million standard cubic feet per day during the period. The October 2020 report also indicates that period-to-date gas production from joint ventures, production sharing contracts and Nigeria Petroleum Development Company (NPDC) contributed about 68.18 per cent, 20.12 per cent and 11.70 per cent, 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.
