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NNPC made millions from export in Oct

NNPC made millions
  • NNPC says the country earned 640.35 million dollars

Nigerian National Petroleum Corporation (NNPC) says the country earned 640.35 million dollars from the export of crude oil and gas for the month of October, 2018.

The corporation disclosed this in its monthly Financial and Operation report for October 2018, released in Abuja.

It said that the total export receipt of 640.35 million dollars recorded in October 2018 was higher than the 527.70 million dollars logged in September 2018.

NNPC made millions

It added that the receipt showed 450.44 million dollars accrued from crude oil sale with gas and miscellaneous receipts standing at 173.92 million and 15.99 million dollars respectively.

NNPC made millions

 

In the downstream sector, the report revealed that the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of NNPC, posted a receipt of ₦231.33 billion from sales of white products in the month of October 2018 compared with ₦150.25 billion sold in September 2018.

To ensure continuous increase of PMS supply and effective distribution across the country, a total of 1.66 billion litres of petrol, translating to 55.50 milion liters/day, were supplied for the month under review.

  • The report further noted that out of the 1,066.88 million standard cubic feet of gas per day (mmscfd) of gas supplied to the domestic market in October 2018.

The report further noted that out of the 1,066.88 million standard cubic feet of gas per day (mmscfd) of gas supplied to the domestic market in October 2018, about 627.33 mmscfd of gas representing 58.81 per cent was supplied to gas-fired power plants to generate an average power of about 2,349MW

This, it said when compared with the September 2018, was an average of 615 mmscfd supplied to generate 2,303MW.

The balance of 439.35 mmscfd or 41.19 per cent was supplied to other industries.

Similarly, the reported noted that  for the period of October 2017 to October 2018 an average of 1,188.58 mmscfd of gas was supplied to the domestic market, comprising of an average of 744.06 mmscfd or (62.60 per cent) as gas supply to the power plants and 444.52 mmscfd or (37.40 per cent) as gas supply to industries.

NNPC made millions

It added that about 3,096.18 mmscfd or 89.58 per cent of the export gas was sent to Nigerian Liquefied Natural Gas Company (NLNG) Bonny.

On Pipeline vandalism, the Corporation raised an alarm on the increasing incidents of pipeline vandalism across the country.

It said that in October its pipeline network suffered a 42.9 per cent increase in the incidents of vandalism compared to the previous month during the year.

Giving a breakdown of the incidents of breaches in its infrastructure it said the corporation recorded 219 pipeline vandalised points in the month under review, compared to 125 incidents it suffered in September of the same year.

It revealed that among the breaches, four vandalised pipeline points failed to be welded and one point was ruptured.

It added that in spite the challenge posed by pipeline vandalism, The Nigerian National Petroleum Corporationkept an eye on Premium Motor Spirit (PMS) stock level to ensure zero fuel queue across the nation. (NAN)

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