In one month, NNPC sells N147 billion worth of gasoline and diesel

The Nigerian National Petroleum Company Limited reported on Wednesday that the sale of gasoline and diesel generated N147.36 billion in revenue in October 2021.

It said that the white products included 2.84 million liters of automotive gas oil, often known as diesel, and 1,098.17 million of premium motor spirit, also referred to as gasoline, in a tweet that made the announcement.

It claimed that its Monthly Financial and Operations Report for October 2021 included information on the sales.
The oil company once posted its monthly report online, but hasn’t done so in a while.

However, it stated in its Twitter message, “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.”
According to the study, a total of 28 pipeline vandalism incidents were reported by the company in October 2021, a 33.33 percent increase from the 21 pipeline breaches reported in September 2021. The Mosimi and Port Harcourt regions accounted for 96% and 4% of these incidents, respectively.

According to the report, the oil company provided 594 million standard cubic feet of gas per day to gas-fired power plants across the nation in the month of October 2021, up from 557mmscfd in the month before, 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.
A detailed breakdown of the gas supply and production matrix for the time period under consideration, it was claimed, revealed that 121.05 billion cubic feet of the 197.71 billion cubic feet generated were commercialized.
“Of the commercialised volume, 34.93BCF went to the domestic market while 86.13BCF was exported,” it stated.
The company added, “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.”

GOGAN Media.