The Nigerian National Petroleum Corporation (NNPC), said it recorded a total crude oil and gas export sales of $219.75million in May 2021, representing 180.29% increase above the previous month of April.
This is contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Garba Deen Muhammad.
According to the report, crude oil export sales contributed $181.19million (82.45%) compared with $4.22million contribution in the previous month, while the export gas sales component stood at $38.56million in May 2021.
The report also showed that year-on-year between May 2020 and May 2021, the Corporation exported crude oil and gas worth $1.64billion.
In the gas sector, the report showed that natural gas production in the month under review rose 6.19% to 222.23billion cubic feet (bcf) compared with output in the previous month, translating to an average production of 7,177.53 million standard cubic feet (mmscf) of gas daily.
Year-on-year, a total of 2,898.34bcf of gas was produced representing an average daily production of 7,322.94mmscf during the period.
Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC), the Corporation’s upstream arm, contributed about 60.94%, 20.04% and 18.99% respectively.
Out of the 216.29bcf of gas produced in May 2021, a total of 133.56bcf was commercialized, consisting of 44.02bcf and 89.54bcf for the domestic and export markets respectively.
This translates to a total supply of 1,419.83mmscfd of gas to the domestic market and 2,893.66mmscfd to the export market for the month.
This implies that 61.75% of the average daily gas produced was commercialized, while the balance of 38.25% was re-injected, used as upstream fuel or flared.
In May 2021, 64 pipeline points were vandalized or 39.13% higher than the 46 points recorded in April. The Port Harcourt area accounted for the highest record with 65%, while Mosimi and Kaduna Areas accounted for 30% and 5%, respectively.
In the Downstream sector, the report indicates that the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, posted a total sum of ₦295.72billion from the sales of petroleum products in the month of May 2021 compared with ₦220.13billion sales in April.
Furthermore, total revenues generated from the sale of petroleum products year-on-year stood at ₦2.345trillion, where Premium Motor Spirit (PMS) contributed about 99.61% of the total sales with a value of ₦2.336trillion.
In terms of volume, the figure translates to a total of 2.241 billion litres of white products sold and distributed by PPMC in the month of May 2021 compared with 1.673billion litres in April.
Total sale of petroleum products for the period year-on-year stood at 18.651 billion litres, and PMS accounted for 99.69% of total volume.
Meanwhile, the Corporation said in May 2021, 64 pipeline points were vandalized or 39.13% higher than the 46 points recorded in April. The Port Harcourt area accounted for the highest record with 65%, while Mosimi and Kaduna Areas accounted for 30% and 5% respectively of the vandalized points.
NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace.
The 70th edition of the NNPC MFOR highlights the Corporation’s activities for the period of May 2020 to May 2021.