NNPC earns N93bn from crude oil, gas export | Dailytrust

NNPC earns N93bn from crude oil, gas export


The Nigerian National Petroleum Company (NNPC) Limited said it earned $224.29 million (about N93.424 billion) from crude oil and gas exports in August, 2021, as against $191.26m (N79.7bn) recorded in July, 2021.

A breakdown of the figures captured in the August, 2021, NNPC Monthly Financial and Operations Report (MFOR) indicates that export of crude oil amounted to $7.77m, while gas and miscellaneous receipts stood at $65.26m and $151.26m respectively.

According to highlights of the report contained in a statement by the Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, on Wednesday, crude oil and gas export receipt from August 2020 to August 2021 was $1.84bn.

The national oil firm produced 233.57 billion cubic feet (bcf) of natural gas last August translating to 7,534.67 million standard cubic feet per day (mmscfd) daily average. And in one year, 2,890.67bcf of gas was produced representing average daily production of 7,303.61mmscfd between August, 2020 and August, 2021.

From the 208.64bcf of gas supplied in August, 2021, 131.35bcf was sold; comprising 40.22bcf local sales and 91.13bcf was exported. In one year, NNPC recorded 2,792.28bcf of gas out of which 537.51bcf went for the local market and 1,245.93bcf for export.

The firm also sold 1.532bn litres of white or refined products by its subsidiary – Petroleum Products Marketing Company (PPMC) in August 2021 to earn N203.43bn with petrol accounting for 99 per cent of the sales.

It sold 20.032bn litres of white product in one year which was N2.619tr with petrol accounting for 99.81% of that at N2.613tr.


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