Adedapo Adesanya
By Adedapo Adesanya
The Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), saw a 92 per cent increase in the sales of white products in the month of October 2020 to the tune of N158.0 billion compared to N80.2 billion sales in September 2020.
This was disclosed in a statement from the Group General Manager, Group Public Affairs Division of the corporation, Mr Kennie Obateru, on Thursday.
According to the NNPC, the figure was contained in the October 2020 edition of the NNPC Monthly Financial and Operations Reports (MFOR).
The report indicated that total revenues generated by its downstream subsidiary from the sales of white products for the period October 2019 to October 2020 stood at N1.95 trillion, with Premium Motor Spirit (PMS) accounting for about 99.1 per cent of the total sales with a value of over N1. 9 trillion.
In terms of volume, the October 2020 sales figure translated to a total of 1.224.54 billion litres of white products sold and distributed by PPMC within the period compared with 603.39 million litres in the month of September 2020.
This comprised 1.224.20 billion litres of PMS, 0.31 million litres of Automotive Gas Oil (AGO) also known as diesel and 0.033 million litres of Dual Purpose Kerosene (DPK).
Total sales of white products for the period October 2019 to October 2020 stood at 16.462.50 billion litres and PMS accounted for 16.344.36 billion litres or 99.3 per cent.
In the month under review, 23 pipeline points were vandalized representing about 10 per cent increase from the 21 points recorded in September 2020. Of this figure, Mosimi Area accounted for 83 per cent of the vandalised points while Port Harcourt Area accounted for the remaining 17 per cent.
In the Gas Sector, a total of 214.07 Billion Cubic Feet (bcf) of natural gas was produced in the month October 2020, translating to an average daily production of 6,908.34 Million Standard Cubic Feet per Day (mmscfd).
The daily average natural gas supply to power plants increased by 8.6 per cent to 745 mmscfd, equivalent to power generation of 2,801 Megawatts.
For the period of October 2019 to October 2020, a total of 3,018 BCF of gas was produced, representing an average daily production of 7,658.88 mmscfd during the period.
The October 2020 MFOR also indicated that period-to-date gas production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 68.2 per cent, 20.1 per cent and 11.7 per cent respectively to the total national gas production.
In terms of natural gas off take, commercialization and utilization, out of the 208.96 BCF of gas supplied in October 2020, a total of 118.40 BCF of gas was commercialized, consisting of 38.07 BCF and 88.90 BCF for the domestic and export market respectively.
This translated to a total supply of 1,269.03 mmscfd of gas to the domestic market and 2,870.57 mmscfd of gas supplied to the export market for the month.
This 63rd edition of the MFOR highlights NNPC’s activities for the period of October 2019 to October 2020.
