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NNPC realises N203bn from July products sale

NNPC Headquarters

. As gas production rises 4%

The Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the Nigerian National Petroleum Company (NNPC) Ltd, said it realised about ₦203.73billion from the sale of white products in the month of July 2021.

This was contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report.

The report also put total revenues generated from the sales of white products year-on-year at over ₦2.563 trillion where premium motor spirit (PMS) also called petrol contributed about 99.67% of the total sales.

Similarly, a total of 1.544 billion litres of petroleum products were sold and distributed by the PPMC in July with PMS accounting for 99% of total volume.

Also total sale of petroleum products during the one year period July 2020 to July 2021 stood at 19.535billion litres and PMS accounted for 99.73% of total volume, the report stated.

The report also indicated a 5.23 percentage increase in the average daily gas supply to power plants in the month of July 2021, which stood at 759 million standard cubic feet of gas per day (MMSCFD), equivalent to power generation of 3,250MW against the June 2021 figure of 721mmscfd to generate 3,181MW.

According to the report, national gas production in July 2021 increased by 3.99% at 232.69 billion cubic feet (BCF) compared to output in the previous month, translating to an average daily production of 7,502.28mmscfd.

Year-on-year, a total of 2,891.53BCF of gas was produced representing an average daily production of 7,305.43mmscfd.

The MFOR further revealed that 42 pipeline points were vandalized representing 10.64% decrease from the 47 points recorded in June.

Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 58.67%, 20.45% and 20.89% respectively to the total national gas production.

In the Downstream sector, to ensure sustained increase and effective distribution of petroleum products, especially PMS across the country, the NNPC said it has continued to diligently monitor the daily stock of petrol to achieve success in this regard.

In July 2021, the MFOR further revealed that 42 pipeline points were vandalized representing a 10.64% decrease from the 47 points recorded in June, where the Port Harcourt area accounted for 40% and Mosimi 60% of the vandalized points.

In the Upstream, NNPC recorded total export receipts of $191.26million during the period in review against $188million a month earlier.

Receipts from crude oil amounted to $12.95million, while gas and miscellaneous receipts stood at $78.69million and $99.61million respectively.

Total crude oil and gas export receipts for the year-on-year stood at $1.73billion.

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