NNPC records N288bn from petroleum products sale | Dailytrust

NNPC records N288bn from petroleum products sale

Oil marketers to get N236bn

The Nigerian National Petroleum Corporation (NNPC) recorded N288.17 billion from the sale of petroleum products in December 2020.

According to its December 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR) highlights contained in a statement on Thursday, the corporation also said it has an increase of 80.12 per cent in trading surplus which stands at N24.19bn compared to the N13.43bn it made in November.

Trading surplus or trading deficit is derived after the deduction of the expenditure profile from the revenue in the period under review. The operating revenue of the NNPC Group in December 2020 as compared to November 2020 increased by 33.44% or N137bn to stand at N546.65bn. Its expenditure rose by 27.54% or N112.81bn to stand at N522.47bn.

NNPC sold 2.26bn litres of white products compared to 1.72bn litres in November. It comprised 2.254bn litres of petrol, translating to 72.72m litres/day, 11.40m litres of Automotive Gas Oil (diesel) and 0.48m litres of kerosene.

Total sale of white products for the period of December 2019 to December 2020 stood at 18.456bn litres and petrol accounted for 18.325bn litres or 99.29%.

In monetary terms, the volume translates to a value of N288.77bn recorded on the sale of white products by PPMC in the month of December 2020 compared to N226.08bn sales in November 2020.

Total revenues generated from the sales of white products for the period December 2019 to December 2020 stood at N2.217 trillion, where petrol contributed about 99.09% of the total sales with a value of N2.197tr.