PPMC announced that it sold petroleum products worth ₦211.62bn in February.
Sales of the products for the interval February 2019 to February 2020 stood at about ₦2.6 trillion.
699mmscfd delivered to gas-fired power plants to generate an average power of about 3,064MW.
The Nigerian National Petroleum Corporation (NNPC)’s downstream subsidiary, Petroleum Products Marketing Company (PPMC). Announced that it sold petroleum products worth ₦211.62bn in February.
It additionally announced that gross sales of the products for the interval February 2019 to February 2020 stood at about ₦2.6 trillion. With petrol contributing about 98.06 per cent of the total sales worth of about ₦2.5 trillion.
The N211.62bn figure contained within the February 2020 NNPC Monthly Financial and Operations Report (MFOR) is considerably greater. In comparison with the previous month’s ₦151.79 billion.
The Group General Manager, Group Public Affairs Division, Dr Kennie Obateru. Who confirmed the report on Tuesday in Abuja additionally disclosed that about 1.7 billion litres of white products offered and distributed by PPMC. Within the month of February 2020 in contrast with about 1.2 billion litres sold in January 2020.
This comprised about 1.7 billion litres of PMS and 1.09million litres of AGO, he mentioned. Additionally, there was sale of 0.01million litres of particular product, Low Pour Fuel Oil (LPFO) within the month.
He mentioned total sale and distribution of white products for the interval February 2019 to February 2020 stood at about 21billion litres. PMS accounted for 20.8billion litres or 98.73 per cent, in accordance with the report.
On pipeline vandalism, the report mentioned throughout the interval under review. A total of 32 pipeline-points malfunctioned or vandalized, representing about 47 per cent decrease from the 60 points recorded in January 2020. Comprising 22 pipeline breaches, eight-weld failures and two pipeline ruptures.
The report mentioned Mosimi area accounted for 78 per cent of complete cases. The Port Harcourt axis 16 per cent and all other routes accounted for the remaining 6 per cent.
In respect of natural gas off-take, commercialization and utilization, out of the 241.74Billion Cubic Feet (BCF) of gas provided in February 2020. 146.54BCF commercialized, consisting of 35.83BCF and 110.71BCF for the home and export market respectively. Translating to a total supply of 1,235.56million Standard Cubic Feet per day (mmscfd) of gas to the home market and 3,817.40mmscfd of gas provided to the export market for the month.
Based on the report, 699mmscfd delivered to gas-fired power plants to generate an average power of about 3,064MW. In contrast with January 2020, when a mean of 640mmscfd provided to generate 2,683MW.
The 55th edition of the MFOR indicates an elevated trading surplus of ₦3.95billion. In comparison with the ₦1.87billion surplus posted in January 2020.
The 111 per cent growth within the month is essentially attributable to improved efficiency of the Nigerian Gas Company (NGC). Because of its low bills put at over 100 per cent.
Other reasons cited for the elevated trading surplus are the lowered deficits post by the Downstream units, refineries, in addition to the NNPC corporate Headquarters, the report states.
