NNPC Rakes In N147bn From Sale Of Petrol, Diesel In One Month

The Nigerian National Petroleum Company Limited (NNPC) has said that it made N147.36bn from the sale of petrol and diesel in October 2021.

Naija News reports that the oil company made the announcement in a tweet via its official Twitter handle on Wednesday.

NNPC said that the products comprised 1,098.17 million Premium Motor Spirit, popularly called petrol, and 2.84 million litres of Automotive Gas Oil, also called diesel.

It said the sales were contained in its Monthly Financial and Operations Report for October 2021. The oil firm used to publish its monthly report on its website but has stopped it for some months now.

The tweet reads: “In the downstream, the report shows that a total of 1,101.02 million litres of white products were sold and distributed by Petroleum Products Marketing Company in the month of October 2021, compared with 1,390.19 million litres in the month of September 2021.

“This comprised 1,098.17 million litres of PMS and 2.84 million litres of AGO which also translates to a sales revenue of N147.36bn.”

It said the report showed that a total of 28 vandalised points were recorded on the company’s pipelines in October 2021, representing a 33.33 per cent increase compared to 21 pipeline breaks recorded in September 2021, with the Mosimi and Port Harcourt areas accounting for 96 and four per cent respectively.

The NNPC said it supplied a total of 594 million standard cubic feet of gas per day to gas-fired power plants across the country in the month of October 2021 as against the 557mmscfd supplied the previous month of September 2021.

“The total gas supply to power for the month, according to the report, translates to an average power generation of about 2,944 megawatts compared to 2,701MW for the previous month,” NNPC stated.

It said a further breakdown of the gas production and supply matrix for the period under review showed that a total of 197.71 billion cubic feet was produced, while 121.05BCF was commercialised.

“Of the commercialised volume, 34.93BCF went to the domestic market while 86.13BCF was exported.

“This implies that 62.54 per cent of the average daily gas produced was commercialised while the balance of 37.46 per cent was re-injected, used as upstream fuel gas or flared.”