NNPC: We generated N147.36bn from petrol, diesel sales in one month

From Abubakar Yunusa 

The Nigerian National Petroleum Company (NNPC) Limited says it generated N147.36 billion in revenue from the sales of petrol and diesel in October 2021. 

NNPC Limited disclosed this in its monthly financial and operations report for October 2021 released on Wednesday.

According to the company, NNPC said it recorded 28 vandalised pipelines in the period.

“The NNPC Limited supplied a total of 594 million standard cubic feet of gas per day (mmscfd) to gas-fired power plants in the country in the month of October 2021 as against the 557 mmscfd supplied the previous month of September 2021,” the report reads.

It said the total gas supply to power for the month, culminated in an average power generation of about 2,944 megawatts (MW) compared with 2,701 MW in the previous month.

Under the period under review, the report showed that a total of 197.71 billion cubic feet (bcf) was produced, while 121.05 bcf was commercialised.

“Of the commercialised volume, 34.93 bcf went to the domestic market while 86.13 bcf was exported. This implies that 62.54 percent of the average daily gas produced was commercialised while the balance of 37.46 percent was re-injected, used as upstream fuel gas or flared,” it added.

In the downstream, NNPC Limited said “a total of 1,101.02 million litres of white products were sold and distributed by Petroleum Products Marketing Company (PPMC) in October 2021, compared with 1,390.19 million litres in 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 N147.36 billion,” the report said.

“A total of 28 vandalised points were recorded on the company’s pipelines in October 2021, representing a 33.33 percent increase compared to 21 pipeline breaks recorded in September 2021 with the Mosimi and Port Harcourt areas accounting for 96 percent and 4 percent respectively.”