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NNPC records 92% increment in deals of oil-based commodities in October

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The Nigerian National Petroleum Corporation (NNPC) has declared that its downstream auxiliary, the Petroleum Products Marketing Company (PPMC), recorded a sum of ₦158.04 billion from white deals items the long stretch of October 2020.

On Thursday, the Corporation unveiled this on its October Monthly and Financial Operation Report (MFOR) in Abuja.

The sum addressed 92 percent expansion over the ₦80.15 billion deals in September 2020.

The report demonstrated that all out incomes created from the deals of white items for the time frame October 2019 to October 2020 remained at ₦1.95 trillion, with Premium Motor Spirit (PMS) representing about 99.07 percent of the absolute deals with an estimation of over ₦1. 9trillion.

As far as volume, the October 2020 marketing projection means a sum of 1.224.54 billion liters of white items sold and disseminated by PPMC inside the time frame contrasted and 603.39 million liters in September 2020.

This, it said, involved 1.224.20 billion liters of PMS, 0.31 million liters of Automotive Gas Oil (AGO), otherwise called diesel, and 0.033 million liters of Dual Purpose Kerosene (DPK).

"Complete deals of white items for the time frame October 2019 to October 2020 remained at 16.462.50 billion liters, and PMS represented 16.344.36 billion liters or 99.28 percent,'' it said.

On pipeline vandalism, it noticed that 23 pipeline focuses were vandalized in the month under survey, addressing around 10% increment from the 21 focuses recorded in September 2020.

" Of this figure, Mosimi territory represented 83% of the vandalized focuses, while Port Harcourt Area represented the leftover 17 percent,'' it said.

      

In the Gas Sector, the report uncovered that an aggregate of 214.07 Billion Cubic Feet (bcf) of flammable gas was created in October 2020, meaning a normal day-by-day creation 6,908.34 Million Standard Cubic Feet for each Day (mmscfd).

It noticed that the day by day normal flammable gas supply to control plants expanded by 8.60 percent to 745mmscfd, comparable to control the age of 2,801 Megawatts.

"For the time of October 2019 to October 2020, an aggregate of 3,018 BCF of gas was delivered, addressing a normal creation of 7,658.88 mmscfd during the time frame,'' it said.

The MFOR also shows that period-to-date gas creation from Joint Ventures (JVs), Production Sharing Contracts (PSCs), and NPDC contributed about 68.18 percent, 20.12 percent 11.70 percent separately to the complete public gas creation.

It adds that regarding gaseous petrol off-take, commercialization, and usage, out of the 208.96 BCF of gas provided in October 2020, a sum of 118.40 BCF of gas was popularized, comprising of 38.07 BCF and 88.90 BCF for the homegrown and fare market individually.

This, it said, meant an all-out inventory of 1,269.03mmscfd of gas to the homegrown market and 2,870.57mmscfd of gas provided to the fare market for the month.

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