By Isaac Kertyo
The Nigerian National Petroleum Corporation (NNPC) Limited reported earnings of $224.29 million (about N93.424 billion) from crude oil and gas exports in August, 2021, as compared with $191.26 million (N79.7 billion) in July, 2021.
A breakdown of the figures captured in the August, 2021, NNPC Monthly Financial and Operations Report (MFOR) indicates that export of crude oil amounted to $7.77m, while gas and miscellaneous receipts stood at $65.26m and $151.26m respectively.
According to highlights of the report contained in a statement by the Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, on Wednesday, crude oil and gas export receipts from August 2020 to August 2021 were $1.84bn.
The national oil firm produced 233.57 billion cubic feet (bcf) of natural gas last August translating to 7,534.67 million standard cubic feet per day (mmscfd) daily average. And in one year, 2,890.67bcf of gas was produced representing average daily production of 7,303.61mmscfd between August, 2020 and August, 2021.
From the 208.64bcf of gas supplied in August, 2021, 131.35bcf was sold; comprising 40.22bcf local sales and 91.13bcf was exported. In one year, NNPC recorded 2,792.28bcf of gas, out of which 537.51bcf went for the local market and 1,245.93bcf for export.
In August 2021, the firm sold 1.532 billion litres of white or refined products through its subsidiary, Petroleum Products Marketing Company (PPMC), making N203.43 billion from petrol sales, which accounted for 99 per cent of the company’s earnings.
A total of 20.032bn litres of white product (N2.619tr) were sold in a year, out of which N2.613tr were petrol sales at 99.81%.
