Sale of petrol, kerosene, diesel in 13 months
By Jeph Ajobaju, Chief Copy Editor
A total N2.763 trillion has been generated by the Nigerian National Petroleum Corporation (NNPC) from the sale of white products – petrol, kerosene, and diesel – N2.56 trillion in the past 13 months, and N203.73 billion in July alone.
The revenue in July was made through the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, according to July 2021 NNPC Monthly Financial and Operations Report just released.
“The report revealed that total revenues generated from the sales of white products for the period July 2020 to July 2021 stood at over N2.563tn where PMS (Premium Motor Spirit, popularly called petrol) contributed about 99.67 per cent of the total sales,” it said.
A total 1.544 billion litres of petroleum products were sold and distributed by the PPMC in July 2021 with petrol accounting for 99 per cent.
Total sale of petroleum products from July 2020 to July 2021 stood at 19.535 billion litres and petrol accounted for 99.73 per cent.
The report also showed a 5.23 percentage increase in average daily gas supply to power plants in July 2021, which stood at 759 million standard cubic feet (mscf) of gas per day.
The NNPC said this was equivalent to power generation of 3,250 megawatts (mw), against June 2021 figure of 721 mscf to generate 3,181 mw.
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Gas production
National gas production in July 2021 increased 3.99 per cent to 232.69 billion cubic feet (bcf), compared with June 2021, translating to an average daily production of 7,502.28 mscfd.
A total 2,891.53 bcf of gas was produced between July 2020 and July 2021, an average daily production of 7,305.43 mscfd.
“Period-to-date production from Joint Ventures, Production Sharing Contracts and Nigerian Petroleum Development Company contributed about 58.67, 20.45 and 20.89 per cent respectively to the total national gas production,” the NNPC said.
It reported that 42 pipeline points were vandalised in July 2021, a 10.64 per cent decrease from 47 points in June 2021.
“This month, Port Harcourt area accounted for 40 per cent and Mosimi Area accounted for 60 per cent of the vandalised points.
“In the upstream, the NNPC recorded total export receipt of $191.26m in July 2021 as against $188m in June 2021.
“Receipts from crude oil amounted to $12.95m, while gas and miscellaneous receipts stood at $78.69m and $99.61m respectively.”
Total crude oil and gas export receipt from July 2020 to July 2021 was $1.73 billion, the NNPC said.
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