NNPC records N38.67bn from sale of petroleum products in Sept.

NNPC records N38.67bn from sale of petroleum products in Sept.

NNPC records N38.67bn from sale of petroleum products in Sept.

The Nigeria National Petroleum Corporation
(NNPC), says it recorded N38.67billion from the
sale of downstream petroleum products in
September.
This is contained in the corporation’s
report for September obtained by the
News Agency of Nigeria (NAN)in Abuja
on Sunday.
It stated that the amount was in respect
of revenue from “white products” sold
by the Pipelines and Product Marketing
Company (PPMC).
The News Agency of Nigeria (NAN)
reports that white products include
Automotive Gas Oil (AGO), Household
Kerosene (HHK), and Premium Motor
Spirit (PMS).
The report also indicated that NNPC
generated N44.2 billion from the sale of
white petroleum products in August.
According to the report, the total
revenue for white products sold from
January to September 2015 stood at
N461.1 billion.
It stated that the Premium Motor Spirit
(PMS) contributed about 86 per cent of
all the revenues collected from January
to September with a value of N395.68
billion.
It stated that the combined value of
output by the three refineries in Nigeria
amounted to N9.9 billion for crude
processed in September.
The report said that the associated crude
plus freight cost stood at N6.3 billion,
representing a loss of N8.8 billion after
an overhead cost of N12.4 billion.
The report also indicated that 75.78
million litres was produced compared to
200.2 million litres in August in respect
of products from domestic refineries.
It stated that the total crude processed by
the three refineries in September was
261,371.14 bbls (35,648 MT) translating
to a combined capacity utilisation of
1.96 per cent
According to the report, only Port
Harcourt refinery produced 31,008
million MT of petroleum products, out of
35,648 million MT of crude processed at
an average capacity utilisation of 5.77
per cent.
It said the petroleum product supplied
and distributed into the country from
Off-Shore Processing Agreements (OPA),
stood at 763.90 million litres of white
products against 701.29 million litres
supplied in August.
The report said Dual Purpose Kerosene
(DPK), receipt in September was 196.30
million litres compared with zero litres
imported in the previous month.
It stated that 507.90 million litres of
downstream petroleum products were
distributed and sold by PPMC in
September 2015 compared to 606.84
million litres sold in the previous month.
The report stated that the sale comprised
of 456.81 million litres of PMS, 31.41
million litres of Kerosene and 19.68
million litres of diesel.
It stated that the total sale of white
products for the period, January to
September stood at 6.41billion litres,
with PMS recording 5.08 billion liters or
79 per cent of the sale.
On gas production, it sated that 246
billion standard cubic feet (BCF) of
natural gas was produced in September.
The report indicated that an average
daily production of 8,187 million
standard cubic feet per day was
recorded during the period.
It showed that 2,164 BCF of gas was
produced between January and
September 2015 representing an average
daily production of 7,925 mmscfd during
the period.
It stated that the production from Joint
Ventures (JVs), Production Sharing
Contracts (PSC) and the Nigerian
Petroleum Development Company
(NPDC) contributed about 69.8, 22.0 and
8.2 per cents respectively to the total
national gas production.
The report stated that an average of 773
mmscfd of domestic gas supply to the
power sector was delivered to the gas
fired power plants in September 2015.
It stated that the supply was designed to
generate an average power of about
3,141 Mega Watts(MWs) of electricity
compared to the 2015 YTD average gas
supply of 656 mmscfd and power
generation of 2,843 MWs