NNPC, Nigeria’s state-run firm, revealed that the country earned
$640.35 million from the export of crude oil and gas for the month of
October 2018. This was disclosed in its monthly Financial and Operation
report for October 2018.
The company said the total export receipt of $640.35 million recorded
in October 2018 was higher than the $527.70 million earned in September
2018.
The financial results showed that $450.44 million accrued from crude
oil sale with gas, while miscellaneous receipts stood at $173.92 million
and $15.99 million respectively.
In the downstream sector, the report revealed that the Petroleum
Products Marketing Company (PPMC), a downstream subsidiary of NNPC,
posted a receipt of N231.33 billion from sales of white products in the
month of October 2018 compared with N150.25 billion sold in September
2018.
“Total revenues generated from the sales of white products for the
period October 2017 to October 2018 stand at N2.684 trillion, where PMS
contributed about 88.32% of the total sales value of N2.371 trillion.
“To ensure continuous increase of PMS supply and effective
distribution across the country, a total of 1.66 billion liters of
petrol, translating to 55.50 million liters/day, were supplied for the
month under review,’’ the report said
A total of 1.066 Bcf gas was supplied to the domestic market in
October, while about 627.33 Mmscf/d of gas was used as feedstock for
Nigeria’s gas-fired power plants to generate an average power of about
2,349MW.
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