This is contained in the December 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a statement by Dr. Kennie Obateru, the Group General Manager, Group Public Affairs Division of the Corporation.
Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review.
The report indicated that the 80.12% increase is due mainly to the significant rise in the profit of NNPC’s flagship upstream entity, the Nigerian Petroleum Development Company (NPDC), amid improved market fundamentals and strong global demand for crude oil.
Other contributory factors to the robust trading surplus recorded in the month under review include the improved performance by the Nigerian Gas Marketing Company (NGMC), the Petroleum Products Marketing Company (PPMC), the National Engineering and Technical Company (NETCO), and Duke Oil Incorporated, which recorded noticeable gains in their operations.
This comprised 2.254 billion litres of petrol, translating to 72.72 million litres/ day, 11.40 million litres of Automotive Gas Oil (diesel) and 0.48 million litres of kerosene.
Total sale of white products for the period of December 2019 to December 2020 stood at 18.456 billion litres and petrol accounted for 18.325 billion litres or 99.29%.
In monetary terms, the volume translates to a value of N288.77 billion recorded on the sale of white products by PPMC in the month of December 2020 compared to N226.08 billion sales in November 2020.
Total revenues generated from the sale of white products for the period December 2019 to December 2020 stood at N2.217 trillion, where petrol contributed about 99.09% of the total sales with a value of N2.197 trillion.
In December 2020, 43 pipeline points were vandalized, representing about 18.60% increase from the 35 points recorded in November 2020.
Mosimi Area accounted for 56% of the vandalized points while Kaduna Area and Port Harcourt accounted for the remaining 33% and 12%, respectively.
Meanwhile, the Minister of State for Petroleum Resources, Timipre Sylva, has said his ministry is expected to generate $600 million from its new marginal fields.
Sylva stated that the process for the acquisition of the marginal fields had been completed and there were 161 winning bids and they had been notified.
“We have started to receive signature bonuses paid by the winners.
“At least from the last account report I got from DPR, almost 50 percent of the winners have paid. What we are expecting from the whole process is about $600 million.
“So, at this point we cannot give any figure in any currency but just to tell you that payments have been encouraging and they have up to April 20, 2021.
“So there is some time although the jury is still out but we believe that by April we would have got a lot of them to pay,’’ the minister said.