Nigerian News

NNPC makes N1.9trn from petroleum merchandise gross sales in 12 months

By Obas Esiedesa

THE Nigerian Nationwide Petroleum Company (NNPC) Thursday disclosed that it generated N1.95 trillion from the gross sales of petroleum merchandise in 12 months, from October 2019 to October 2020.

The Company in a press release, yesterday, by its Group Common Supervisor, Group Public Affairs Division, Dr. Kennie Obateru stated premium motor spirit (petrol) accounted for about 99.07 p.c of the full gross sales with a worth of over N1.9 trillion.

NNPC stated its downstream subsidiary, the Petroleum Merchandise Advertising Firm, PPMC, recorded a complete of N158.04 billion from the gross sales of white merchandise within the month of October 2020 representing 92 p.c improve over the N80.15 billion gross sales in September 2020.

Obateru defined that the figures are contained within the October 2020 version of the NNPC Month-to-month Monetary and Operations Reviews (MFOR).

He acknowledged that by way of quantity, the October 2020 gross sales determine interprets to a complete of 1.224 billion litres of white merchandise bought and distributed by PPMC throughout the interval in contrast with 603.39 million litres within the month of September 2020.

“This comprised 1.224.20 billion litres of PMS, zero.31 million litres of Automotive Fuel Oil (AGO) also referred to as diesel   and zero.zero33 million litres of Twin Goal Kerosene (DPK).

“Complete gross sales of white merchandise for the interval October 2019 to October 2020 stood at 16.462.50 billion litres and PMS accounted for 16.344.36 billion litres or 99.28 p.c”, he added.

He disclosed that additionally in October, 2020, 23 pipeline factors had been vandalized representing about 10 p.c improve from the 21 factors recorded in September 2020.

“Of this determine, Mosimi Space accounted for 83 p.c of the vandalized factors whereas Port Harcourt Space accounted for the remaining 17 p.c”.

He acknowledged that within the gasoline sector, a complete of 214.07 billion cubic toes (bcf) of pure gasoline was produced within the month October 2020, translating to a median every day manufacturing of 6,908.34 million customary cubic toes per day (mmscfd).

He stated the every day common pure gasoline provide to energy vegetation elevated by eight.60 p.c to 745mmscfd, equal to energy technology of two,801 megawatts.

Vanguard News Nigeria

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