NNPC: Sales of petroleum products increased by 92% in October

The Nigerian National Petroleum Corporation (NNPC) says it recorded a 92 percent increase from the sales of white products in October 2020.

This figure is contained in the October 2020 edition of the NNPC monthly financial and operations report.

In a statement on Thursday, Kennie Obateru, the group general manager of the NNPC public affairs division, said Petroleum Products Marketing Company (PPMC), a subsidiary of NNPC, realised ₦158.04 billion from the sales of white products compared to N80.15 billion in September.

According to the NNPC, the total revenue generated from the sales of petroleum products between October 2019 and October 2020 was ₦1.95 trillion, with premium motor spirit (PMS), also known as petrol, accounting for about 99.07 percent of the total sales with a value of over ₦1. 9 trillion.

“In terms of volume, the October 2020 sales figure translates 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,” the statement read.

“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 99.28%.”

Obateru said 23 pipeline points were vandalized in October representing about a 10 percent increase from the 21 points recorded in September.

In the gas sector, the report explained that a total of 214.07 billion cubic feet of natural gas was produced in the month October, translating to an average daily production of 6,908.34 million standard cubic feet per day.

It said the daily average natural gas supply to power plants increased by 8.60 percent to 745mmscfd, equivalent to power generation of 2,801megawatts.