Monday, January 28, 2019

NNPC October Numbers Revealed

NNPC, Nigeria’s state-run firm, revealed that the country earned $640.35 million from the export of crude oil and gas for the month of October 2018. This was disclosed in its monthly Financial and Operation report for October 2018.

The company said the total export receipt of $640.35 million recorded in October 2018 was higher than the $527.70 million earned in September 2018.

The financial results showed that $450.44 million accrued from crude oil sale with gas, while miscellaneous receipts stood at $173.92 million and $15.99 million respectively.

In the downstream sector, the report revealed that the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of NNPC, posted a receipt of N231.33 billion from sales of white products in the month of October 2018 compared with N150.25 billion sold in September 2018.

“Total revenues generated from the sales of white products for the period October 2017 to October 2018 stand at N2.684 trillion, where PMS contributed about 88.32% of the total sales value of N2.371 trillion.

“To ensure continuous increase of PMS supply and effective distribution across the country, a total of 1.66 billion liters of petrol, translating to 55.50 million liters/day, were supplied for the month under review,’’ the report said

A total of 1.066 Bcf gas was supplied to the domestic market in October, while about 627.33 Mmscf/d of gas was used as feedstock for Nigeria’s gas-fired power plants to generate an average power of about 2,349MW.

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