NNPC Records N234.722b Petrol Sale In January

The Nigerian National Petroleum Corporation recorded about N234,722,222,150 from the sale of the Premium Motor Spirit in January 2021.

The corporation supplied 1.44billion litres in the month translating to 46.30 million litres of the product daily.

In the month under review, a litre was least sold for N162.50.

NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, made this known in a statement on the data of the January edition of the NNPC Monthly Financial and Operations Report saying “To guarantee energy security, the corporation also supplied a total of 1.44billion litres of Premium Motor Spirit (petrol), translating to 46.30million litres/day, across the country in the period under review.”

According to the statement, in the gas sector, a total of 223.55billion Cubic Feet (BCF) of natural gas was produced in January 2021.

This translates to an average daily production of 7,220.22 million Standard Cubic Feet per day (mmscfd).

It recalled that the 223.55BCF gas production figure also represents a 4.79 percent increase over output last December.

NNPC said also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415Mw.

Also, for the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

The statement read: “However, NNPC is continuously working in collaboration with the local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

“Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20 per cent, 19.97 per cent and 14.83 per cent respectively to the total national gas production.

“Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

“This translates to a total supply of 1,428.65mmscfd of gas to the domestic market and 3,385.57mmscfd to the export market in the month under review.

“This indicates that 67.15 per cent of the daily gas output was commercialized while the balance of 32.85 per cent was re-injected, used as upstream fuel, or flared.

“Gas flare rate was 7.73 per cent for the month under review (i.e. 554.01mmscfd) compared with average gas flare rate of 7.19 per cent (i.e. 539.69mmscfd) for the period of January 2020 to January 2021.

“The 66th edition of the NNPC MFOR highlights NNPC’s activities for the period of January 2020 to January 2021. It is published in line with the Corporation’s commitment to the tenets of Transparency, Accountability and Performance Excellence (TAPE).

“The Corporation has sustained effective communication with its stakeholders through the publication of the report on its website, independent online news platforms and national dailies”.