BY QUADRI SALIU
Nigerians in twelve months have bought petrol worth N2.153 trillion, the Nigerian National Petroleum Corporation, NNPC, has said.
It said the purchase of the N2.153 trillion worth of premium motor spirit occurred from June 2020 to May 2021.
In a statement, the NNPC on Monday explained that its Monthly Financial and Operations Report for the month of May 2021 showed that the Petroleum Products Marketing Company, PPMC, a downstream subsidiary, posted a total sum of N295.72 billion from the sales of petroleum products in the month of May 2021 compared with N220.13 billion sales in April 2021.
The Corporation stated that 2.234 billion litres of petrol were supplied in May compared to 1.673 billion litres supplied in April 2021.
NNPC reported that total sales of petroleum products for the period May 2020 to May 2021 stood at 18.651billion litres and PMS accounted for 99.69 per cent of total volume.
According to the statement issued by Group General Manager, Group Public Affairs Division of the Corporation, Mr Garba Deen Muhammad, total crude oil and gas export sales was $219.75 million in May 2021, representing 180.29 per cent increase in sales from the previous month of April 2021.
Mr Mohammad explained that crude oil export sales contributed $181.19m (82.45%) of the dollar transactions compared with $4.22 million contributions in the previous month, while the export gas sales component stood at $38.56million in May 2021.
He said the report also showed that between May 2020 and May 2021, the Corporation exported crude oil and gas worth $1.64 billion.
NNPC added that in the gas sector, the report showed that natural gas production in the month under review increased by 6.19 per cent at 222.23 billion cubic feet (bcf) compared with output in the previous month, translating to an average production of 7,177.53million standard cubic feet (mmscf) of gas per day.
“For the period May 2020 to May 2021, a total of 2,898.34bcf of gas was produced representing an average daily production of 7,322.94mmscf during the period”, the Corporation stated.
NNPC disclosed that period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 60.94 per cent, 20.04 per cent and 18.99 per cent respectively.
“Out of the 216.29bcf of gas produced in May 2021, a total of 133.56bcf was commercialized, consisting of 44.02bcf and 89.54bcf for the domestic and export markets respectively.
“This translates to a total supply of 1,419.83mmscfd of gas to the domestic market and 2,893.66mmscfd to the export market for the month.
“This implies that 61.75 per cent of the average daily gas produced was commercialized while the balance of 38.25 per cent was either re-injected, used as upstream fuel or flared”.
NNPC also disclosed that in May 2021, 64 pipeline points were vandalized representing a 39.13 per cent increase from the 46 points recorded in April 2021.
“The Port Harcourt area accounted for 65 per cent and Mosimi and Kaduna Areas accounted for 30 per cent and five per cent respectively of the vandalized points.
“NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace”, it added.
