• About Us
  • Privacy Policy
No Result
View All Result
Express Day
  • Home
  • NEWS
    • Politics
    • Health
    • Education
    • Crime
    • Judiciary
    • Environment
    • Science & Technology
  • BUSINESS
    • Finance
    • Insurance
    • Agriculture
    • Aviation
    • Energy
    • ICT
    • Maritime & Transport
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS
  • en English
    ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanha Hausaig Igboit Italianko Koreanla Latinpt Portugueseru Russianes Spanishsw Swahiliyo Yorubazu Zulu
Express Day
No Result
View All Result
Home BUSINESS

NNPC reports N13.23bn trading surplus for October 2019

ExpressDay by ExpressDay
January 1, 2020
in BUSINESS, Energy
0
NNPC reports N13.23bn trading surplus for October 2019
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

By Anthony Isaac

The Nigerian National Petroleum Corporation (NNPC) says it recorded a trading surplus of N13.23 billion in October 2019, representing an increase of 54 percent compared to the N8.59 billion surplus posted in September last year.

A statement by corporation signed by its Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, explained that the figures contained in the recently released October 2019 edition of the NNPC Monthly Financial and Operations Report (MFOR), reflect the sustained streak of positive results in the operations of the National Oil Company.

To underline the increasing fortunes of the corporation in recent times, the September, 2019 trading surplus of N8.59 billion in turn indicated a significant increase of 65 per cent compared to the N5.20 billion surplus posted in August 2019, even as that beat the N4.26 billion surplus posted in July 2019, reflecting an increase of 22 per cent. 

The NNPC said the increase of 54 per cent trading surplus in October 2019 accounts of the corporation was majorly attributable to improved trading surplus posted by its flagship Upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

The 51st edition of the MFOR stated a total Crude Oil and Gas export sales of $483.25 million in October 2019; which is an increase of 35.77 percentage point, compared to the previous month, implying that in the month under review, Crude oil export sales contributed $396.94 million (82.14 per cent) of the dollar transactions, compared with $267.97million contribution in the September, 2019, even as the export Gas sales for the month amounted to $86.32 million.

Overall, the October 2018 to October 2019 Crude Oil and Gas transactions indicated that Crude Oil & Gas worth $5.49 Billion was exported.

In the Downstream Sector, to ensure sustained PMS supply and effective distribution across the country, 1.16billion litres of PMS, translating to 37.30mn liters/day, were supplied for the month.

NNPC stated in the monthly report that it had continued to diligently monitor the daily stock of Premium Motor Spirit (PMS), otherwise called petrol, in order to achieve smooth distribution of petroleum products and zero fuel queue nationwide.

The report said that in October 2019, 35 vandalized-pipeline points, representing a decrease of 81 per cent from the 186 vandalized-points in September 2019, were recorded.

Out of the vandalized points, eight failed to be welded, while only one pipeline was ruptured, with Ibadan-Ilorin axis accounting for 34 per cent of the breaks, while ATC-Mosimi and other routes accounted for 23 per cent and 43 per cent, respectively.

In the Gas Sector, out of the 235.82billion Cubic Feet (BCF) of gas supplied in October 2019, a total of 134.97 BCF of gas was commercialized, consisting of 31.37 BCF and 103.60 BCF for the domestic and export market, respectively.

This translates to a total supply of 1,011.85Million Standard Cubic Feet (mmscfd) of gas to the domestic market and 3,341.84mmscfd of gas supplied to the export market for the month, implying that during the month, 57.23 per cent of the average daily gas produced was commercialized, while the balance of 42.77 per cent was re-injected, used as Upstream fuel gas or flared.

Like this:

Like Loading...

Related

Previous Post

I’ll stand down in 2023 — Buhari insists

Next Post

Master Plan initiatives made capital market attractive, says SEC DG

ExpressDay

ExpressDay

Next Post
WHY WE ENCOURAGE SECURITIES LENDING – SEC

Master Plan initiatives made capital market attractive, says SEC DG

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • Trending
  • Comments
  • Latest
Rector becomes Giwa of Auchi Sacred Kingdom

Rector becomes Giwa of Auchi Sacred Kingdom

January 7, 2023
Buhari demands justice for Omobolanle Raheem killed by police

Murder of Lagos Lawyer: We Also Demand Justice for Edo 5 — Barrister Asunogie

January 2, 2023
Group blasts Omo-Agege’s aide over lies against Ogboru’s alliance with Okowa

Oddiri’s campaign of calumny can’t change Deltans’ love for Ogboru – Okotie-Eboh

January 21, 2023
Second interpreter of “Papa Ajasco” role, Ogunrombi, dies

Second interpreter of “Papa Ajasco” role, Ogunrombi, dies

January 15, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
159 Nigerians renounce citizenship in 2022 – FG

159 Nigerians renounce citizenship in 2022 – FG

January 26, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
IGP Baba’s Welfare Drive And The Changing Face Of NPF

IGP Baba’s Welfare Drive And The Changing Face Of NPF

January 26, 2023

Recent News

Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
159 Nigerians renounce citizenship in 2022 – FG

159 Nigerians renounce citizenship in 2022 – FG

January 26, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
IGP Baba’s Welfare Drive And The Changing Face Of NPF

IGP Baba’s Welfare Drive And The Changing Face Of NPF

January 26, 2023

Follow Us

Browse by Category

  • Agriculture
  • Aviation
  • BUSINESS
  • Crime
  • Economy
  • Education
  • Energy
  • ENTERTAINMENT & ARTS
  • Environment
  • Feature
  • Finance
  • FOREIGN
  • Health
  • ICT
  • Insurance
  • INTERVIEW
  • INVESTIGATIONS
  • Judiciary
  • Maritime & Transport
  • Metro
  • NEWS
  • Oil and Gas
  • OPINION
  • PHOTO NEWS
  • Politics
  • Science & Technology
  • Security
  • SPORTS
  • TOP STORIES
  • Tourism

Recent News

Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
159 Nigerians renounce citizenship in 2022 – FG

159 Nigerians renounce citizenship in 2022 – FG

January 26, 2023
  • About Us
  • Privacy Policy

© 2022 Express Day

No Result
View All Result
  • Home
  • NEWS
  • BUSINESS
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS

© 2022 Express Day

%d bloggers like this: