Nigeria’s state-owned oil firm, Nigerian National Petroleum Corporation (NNPC) has recorded an N174.62billion ($487.76 million) sale of white products in March 2019, the corporation’s Monthly Financial and Operations Report (MFOR) for March 2019 has stated.
A statement by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, disclosed that the March sales figure is higher than the N168.65billion recorded in February 2019.
In the statement, the total revenue generated from the sale of white products from the period March 2018 to March 2019 stood at N2,780.79billion, with Premium Motor Spirit, otherwise called petrol contributing about 91.09 percent or N2,533billion.
In terms of volume of the total sales by the NNPC Subsidiary, the Petroleum Products Marketing Company (PPMC), in March 2019, the report said a total supply and distribution of 1.36billion liters of white products were made, compared with 1.33billion liters of February 2019.
A further products breakdown indicated that the March volume comprised 1.29billion liters of petrol, 0.023billion liters of Dual Purpose Kerosene (DPK), and 0.047billion liters for the diesel component.
Total sale of white products distributed for the period, March 2018 to March 2019, stood at 21.99billion liters, with petrol accounting for 20.63 billion liters or 93.8 percent. The report stated that 6.4billion liters of special products were sold during the period.
Out of the volume of gas supplied in March 2019, 155.01bcf of gas was commercialized, consisting of 40.35bcf, and 111.66bcf for the domestic and export markets, respectively. The report indicated that 58.81 percent of the average daily gas produced was commercialized, while the balance of 41.19 was re-injected, used as upstream fuel gas or flared. The March 2019 NNPC Monthly Financial and Operations Report was the 44th in the series.
The March 2019 NNPC Monthly Financial and Operations Report was the 44th in the series.