New Telegraph

February 26, 2024

NNPC records $219.75m sales in May

…posts N295.72bn from petroleum products

…records increase in pipeline vandalism

 

The Nigerian National Petroleum Corporation (NNPC) has recorded a total of $219.75 million export sales of crude oil and gas in May 2021, representing 180.29 per cent increase on sales from the previous month of April 2021.

 

This was contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), in a statement made available  to newsmen on Monday in Abuja, by the Group General Manager, Group Public Affairs Division of the Corporation, Mr. Garba Deen Muhammad.

 

The report, which revealed that the corporation exported crude oil and gas worth $1.64bil  lion between May 2020 and May 2021, further stated that crude oil export sales contributed $181.19 million (82.45%) of the dollar transactions compared with $4.22 million contribution in the previous month, while the export gas sales component stood at $38.56million in May 2021.

 

Also, the natural gas production in the month under review increased by 6.19 per cent at 222.23billion cubic feet (bcf) compared with output in the previous month, translating to an average production of 7,177.53million standard cubic feet (mmscf) of gas per day.

 

The statement reads: “For the period May 2020 to May 2021, a total of 2,898.34bcf of gas was produced representing an average daily production of 7,322.94mmscf during the period.

 

“Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 60.94 per cent, 20.04 per cent and 18.99 per cent respectively.

 

“Out of the 216.29bcf of gas produced in May 2021, a total of 133.56bcf was commercialized, consisting of 44.02bcf and 89.54bcf for the domestic and export markets respectively.

Read Previous

FG to reconsider S’East candidates who missed WASSCE

Read Next

Wike: 1999 Constitution clear on VAT collection

Leave a Reply

Your email address will not be published. Required fields are marked *