Fidelity bank card banner Camano banner

NNPC posts N39bn from sale of petroleum products in Sept.

By News Express on 02/11/2015

Views: 1,916


The Nigeria National Petroleum Corporation (NNPC) says it recorded N38.67billion from the sale of downstream petroleum products in September.

This is contained in the corporation’s report for September obtained by the News Agency of Nigeria (NAN) in Abuja on Sunday.

It stated that the amount was in respect of revenue from ‘white products’ sold by the Pipelines and Product Marketing Company (PPMC).

The News Agency of Nigeria (NAN) reports that white products include Automotive Gas Oil (AGO), Household Kerosene (HHK), and Premium Motor Spirit (PMS).

The report also indicated that NNPC generated N44.2 billion from the sale of white petroleum products in August.

According to the report, the total revenue for white products sold from January to September 2015 stood at N461.1 billion.

It stated that the Premium Motor Spirit (PMS) contributed about 86 per cent of all the revenues collected from January to September with a value of N395.68 billion.

It stated that the combined value of output by the three refineries in Nigeria amounted to N9.9 billion for crude processed in September.

The report said that the associated crude plus freight cost stood at N6.3 billion, representing a loss of N8.8 billion after an overhead cost of N12.4 billion.

The report also indicated that 75.78 million litres was produced compared to 200.2 million litres in August in respect of products from domestic refineries.

It stated that the total crude processed by the three refineries in September was 261,371.14 bbls (35,648 MT) translating to a combined capacity utilisation of 1.96 per cent

According to the report, only Port Harcourt refinery produced 31,008 million MT of petroleum products, out of 35,648 million MT of crude processed at an average capacity utilisation of 5.77 per cent.

It said the petroleum product supplied and distributed into the country from Off-Shore Processing Agreements (OPA), stood at 763.90 million litres of white products against 701.29 million litres supplied in August.

The report said Dual Purpose Kerosene (DPK), receipt in September was 196.30 million litres compared with zero litres imported in the previous month.

It stated that 507.90 million litres of downstream petroleum products were distributed and sold by PPMC in September 2015 compared to 606.84 million litres sold in the previous month.

The report stated that the sale comprised of 456.81 million litres of PMS, 31.41 million litres of Kerosene and 19.68 million litres of diesel.

It stated that the total sale of white products for the period, January to September stood at 6.41billion litres, with PMS recording 5.08 billion litres or 79 per cent of the sale.

On gas production, it sated that 246 billion standard cubic feet (BCF) of natural gas was produced in September.

The report indicated that an average daily production of 8,187 million standard cubic feet per day was recorded during the period.

It showed that 2,164 BCF of gas was produced between January and September 2015 representing an average daily production of 7,925 mmscfd during the period.

It stated that the production from Joint Ventures (JVs), Production Sharing Contracts (PSC) and the Nigerian Petroleum Development Company (NPDC) contributed about 69.8, 22.0 and 8.2 per cents respectively to the total national gas production.

The report stated that an average of 773 mmscfd of domestic gas supply to the power sector was delivered to the gas fired power plants in September 2015.

It stated that the supply was designed to generate an average power of about 3,141 Mega Watts (MWs) of electricity compared to the 2015 YTD average gas supply of 656 mmscfd and power generation of 2,843 MWs (NAN)

•Photo shows Dr Kachikwu.

Source News Express

Posted 02/11/2015 04:29:52 AM

 

 

CLASSIFIED ADS

 

You may also like...
Oshiomhole unveils APC committees for governorship primaries (Full...

The $1bn ‘Christmas’ fund to fight the ‘degraded’...

Nigeria at high risk of violent explosion —...

Lagos intensifies clampdown on illegal jetties, boat operators...

U.S. Chamber names Dangote Co-Chair of U.S.-Africa Business...

BREAKING: Yoruba leaders shortlist 5 technocrats as Atiku’s...

Coaches, administrators anticipate exciting Glo League second stanza...

Dispute over new minimum wage unnecessary — Bishop...

Breaking News: Court order clears the way for...

EFCC’s multi-billion office ostentatious and unacceptable — HURIWA...

Insecurity: Nigeria collapsing under Buhari — PDP

FIFA lifts suspension of Nigeria

 

Latest News Many injured, goods worth millions of naira destroyed as Hausa, Yoruba clash in Lagos Okowa condemns attack on Ekweremadu, urges Germany not to spare perpetrators Makinde appoints ex-police chief Fatai Owoseni Special Adviser on Security Matters MASSOB faults IPOB over attack on Ekweremadu, says Igbo leaders not responsible for non-actualisation of Biafra Ekweremadu’s attack: Identify the culprits, Senate president tells German authorities Migrant Fulani causing problem in Nigeria – Miyetti Allah Nine confirmed dead in attack on mourners in Benue Tomorrow's strike will be total, comprehensive – Varsity workers Reorder Nigeria to avert strife, Nwabueze group tells Buhari 2021: We won’t zone Anambra governorship – PDP Three killed, seven injured in soccer riot South East PDP calls for arrest of Ekweremadu’s attackers

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (527,841 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (438,148 views) Shameless Genevieve Nnaji exposes breasts in public (382,915 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (321,799 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (289,854 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (250,935 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (245,546 views) 10 cars more expensive than Jets (232,209 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (227,604 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (213,852 views) Lagos plane crash: Journalist releases victims’ names (192,803 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (190,733 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (98) Business & Economy (4,395) Business Verdict (78) Columnists (1,093) Complaints & Requests (95) Enterprise & Opportunities (214) Entertainment (647) Features (795) Global Business Monitor (417) ICT Monitor (58) International (3,840) Interview (198) Live Commentary (30) Love Matters (166) Maggie's Blog (379) News (50,109) Opinion (1,323) Pidgin (17) Politics (11,311) Religion (1,085) Sports (2,133) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera