The Nigerian National Petroleum Corporation (NNPC) says it has recorded N174.62billion from sales of white products in March 2019. The information is contained, in the corporation’s Monthly Financial and Operations Report (MFOR) for March 2019.
From the report, March sales figure is higher than the N168.65 billion recorded in February 2019. It explained that the total revenue generated from the sale of white products from the period March 2018 to March 2019 stood at N2,780.79 billion, with Premium Motor Spirit, otherwise called petrol contributing about 91.09 per cent or N2,533 billion.
As to the total volume of sales made by the NNPC Subsidiary, the Petroleum Products Marketing Company (PPMC), in March 2019, the report said a total supply and distribution of 1.36 billion litres of white products were made, compared with 1.33 billion litres of February 2019.
A further breakdown indicated that the March volume comprised 1.29 billion litres of petrol, 0.023 billion litres of Dual Purpose Kerosene (DPK), and 0.047 billion liters for the diesel component.
Total sale of white products distributed for the period, March 2018 to March 2019, stood at 21.99 billion liters, with petrol accounting for 20.63 billion liters or 93.8 per cent. The report stated that 6.4 billion liters of special products were sold during the period.
Within the period, 111 pipeline points were vandalized, indicating a 19 per cent drop from the 137 points recorded in February 2019. Ibadan –Ilorin and Benin –Ore axis accounted for 46 per cent of total pulverized points, while breaks in other locations made up the balance.
In the Gas sector, the MFOR disclosed that gas production increased by 15.4 per cent at 263.48 billion cubic feet compared to the output in the proceeding period of February 2019. This translated to an average daily production of 8,499.58 million standard cubic feet of gas per day (mmscfd).
Out of the volume of gas supplied in March 2019, 155.01 bcf of gas was commercialized, consisting of 40.35 bcf, and 111.66 bcf for the domestic and export markets, respectively.
The report indicated that 58.81 per cent 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 of the organization.