NNPC records N203bn proceeds from sale of petroleum products July 2021

*The Nigerian National Petroleum Company (NNPC) Limited discloses the national gas production also increased by 4 percent at 232.69Billion Cubic Feet (BCF) July 2021

Alexander Davis | ConsumerConnect

The Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the Nigerian National Petroleum Company (NNPC) Limited has made a total sum of ₦203.73billion from the sale of white products July 2021.

Mr. Garba Deen Muhammad, Group General Manager, Group Public Affairs Division of NNPC, who stated this Wednesday, December 22, 2021, in Abuja, FCT, disclosed the information was contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), which was the 72nd edition of the Report.

The company noted the report also revealed that total revenues generated from the sales of white products for the period July 2020 to July 2021 stood at over ₦2.563trillion where PMS contributed about 99.67 percent of the total sales.

The NNPC also said a total of 1.544billion litres of petroleum products were sold and distributed by the PPMC, in the month of July 2021 with PMS accounting for 99% of total volume.

Likewise, total sale of petroleum products for the period July 2020 to July 2021 stood at 19.535billion litres and Premium Motor Spirit (PMS) accounted for 99.73% of total volume, the report stated.

The company’s Spokesman further stated that the report indicated a 5.23 percentage increase in the average daily gas supply to power plants in the month of July 2021 which stood at 759million standard cubic feet of gas per day (MMSCFD), equivalent to power generation of 3,250MW against the June 2021 figure of 721mmscfd to generate 3,181MW.

According to the report, national gas production in July 2021 increased by 3.99% at 232.69Billion Cubic Feet (BCF) compared to output in the previous month, translating to an average daily production of 7,502.28mmscfd.

The NNPC also noted from July 2020 to July 2021, a total of 2,891.53BCF of gas was produced representing an average daily production of 7,305.43mmscfd.

Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 58.67%, 20.45% and 20.89% respectively to the total national gas production.

Meanwhile, in order to ensure sustained increase and effective distribution of petroleum products, especially Premium Motor Spirit (PMS) in the downstream sector across the country, the NNPC has continued to diligently monitor the daily stock of petrol to achieve success in this regard.

42 pipeline points vandalised in July

The corporation as well said in July 2021, the MFOR noted that 42 pipeline points were vandalised representing 10.64 percent decrease from the 47 points recorded in June 2021.

This month, Muhammad stated, Port Harcourt area accounted for 40 percent, and Mosimi Area accounted for 60 percent of the vandalised pipeline points in Nigeria.

In the Upstream, NNPC recorded total export receipt of $191.26million in July 2021 as against $188.00million in June 2021.

According to NNPC, receipts from crude oil amounted to $12.95million while gas and miscellaneous receipts stood at $78.69million and $99.61million respectively.

Total crude oil and gas export receipt for the period July 2020 to July 2021 stood at $1.73billion.