NNPC announces $224.29m proceeds from crude oil, gas exports August 2021

*The Nigerian National Petroleum Company Limited has announced a total of $224.29million receipts from crude oil and gas exports August 2021, in line with the oil company’s commitment to the principles of accountability, transparency and performance excellence in the West African country

Isola Moses | ConsumerConnect

The Nigerian National Petroleum Company (NNPC) Limited posted a total of $224.29million receipts from crude oil and gas export August 2021 as against $191.26million recorded July 2021.

The national oil company said a breakdown of the figures captured in the August 2021 NNPC Monthly Financial and Operations Report (MFOR) indicated that export of crude oil amounted to $7.77million whereas gas and miscellaneous receipts stood at $65.26 million and $151.26million respectively.

Garba Deen Muhammad, Group General Manager, Group Public Affairs Division of NNPC Limited, in a statement issued Wednesday, February 9, 2022, in Abuja, FCT, also noted the total crude oil and gas export receipts from August 2020 to August 2021 stood at $1.84billion.

In the Gas Sector of the industry, the company as well stated a total of 233.57billion cubic feet (bcf) of natural gas was produced August 2021, translating into an average daily production of 7,534.67million standard cubic feet per day (mmscfd).

The NNPC said: “For the period of August 2020 to August 2021, a total of 2,890.67bcf of gas was produced representing an average daily production of 7,303.61mmscfd during the period.

“Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and the Nigerian Petroleum Development Company (NPDC) contributed about 57.51%, 20.88% and 21.62% respectively to the total national gas production.”

According to the company, the report further indicated that out of the 208.64bcf of gas supplied August 2021, a total of 131.35bcf was commercialised, consisting of 40.22bcf and 91.13bcf for the domestic and export markets respectively.

This, NNPC stated, implied average total supply of 1,297.54mmscfd to the domestic market and 2,939.31mmscfd of gas to the export market for the month.

Total gas supply for the period of August 2020 to August 2021 stood at 2,792.28bcf out of which 537.51bcf and 1,245.93bcf were commercialised for the domestic and export markets respectively, said the company.

Likewise in the Downstream Sector of the petroleum industry in Nigeria, the report showed the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, sold and distributed a total of 1.532billion litres of white products August 2021.

It also said a breakdown of the figure indicated that petrol accounted for 99% of total sales, while Automotive Gas Oil (AGO), also known as diesel, accounted for the rest.

The NNPC stated: “Total sale of white products for the period of August 2020 to August 2021 stood at 20.032billion with petrol accounting for 99.81%.

“In terms of value, a total sum of ₦203.43billion was made on the sale of white products by PPMC in the month of August 2021.

“Total revenues generated from the sales of white products for the period of August 2020 to August 2021 stood at ₦2.619trillion with petrol contributing about 99.76% of the total sales with a value of ₦2.613trillion.”

The company disclosed that in August 2021, 21 pipeline points were vandalised, representing 50% decrease from the 42 points recorded July 2021.

Port Harcourt area, in Rivers State, the report noted, accounted for 10%, while Mosimi Area in Ogun State, accounted for 90% of the vandalised points.

The August 2021 MFOR, the 73rd in the series, highlights NNPC’s activities for the period of August 2020 to August 2021.

“In line with the company’s commitment to the principles of accountability, transparency and performance excellence, the NNPC Limited has continued to sustain effective communication with stakeholders through the publication of the MFOR on its Web site, in national dailies, and on independent online news platforms,” the statement added.

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