The Nigerian National Petroleum Company (NNPC) Limited has announced a trading surplus of N37.50 billion for September 2021, representing a 352 per cent increase from the N8.29bn surplus in August 2021.
A statement by the Group General Manager, Group Public Affairs Division of the company, Garba Deen Muhammad, noted that details of the figures contained in the September 2021 NNPC Monthly Financial and Operations Report (MFOR) indicated that the rise in trading surplus was largely due to the increased earnings of the company’s upstream subsidiary—the Nigerian Petroleum Development Company (NPDC).
NNPC group’s operating revenue as compared to August 2021 reduced by 29.87 per cent or N191.90bn to N450.45bn as the expenditure dropped by 34.87 per cent or N221.11bn to N412.92bn.
The report also showed a higher crude oil and gas export receipt of $348.63million in September 2021 from $224.29m in August.
The NNPC got $8.38m from crude while gas and miscellaneous receipts were $55.25m and $285m respectively. Total crude oil and gas export receipt from September 2020 to September 2021 was $2.03bn.
In the downstream sector, to ensure an uninterrupted supply of petrol, the NNPC said 1.39bn litres, representing 46.31m litres a day, was supplied in September 2021.
For gas, 208.35 billion cubic feet (bcf) of natural gas was produced last September, translating to the average daily production of 6,945.15 million standard cubic feet per day (mmscfd).
It also stated that between September 2020 and September 2021, about 2,862.36bcf of gas was produced, which is an average daily production of 7,250.16mmscfd.
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