Connect with us


Business

Nigeria Records Crude Oil Profit For January – NNPC

Published

on


Nigerian has recorded crude oil and gas export sales of 434.85million dollars in January.

The Nigerian National Petroleum Corporation( NNPC) who disclosed this in it’s Monthly Financial and Operations Report (MFOR) released in Abuja, on Wednesday said the sale represents an increase of 94.30 percent pitched against the December 2019 figures.

It said that the month’s crude oil export sales contributed 336.65million dollars (77.42 percent) of the dollar transactions for the period, compared to the 136.36million dollars sales in the previous month.

It added that export gas sales in January amounted to 98.20million dollars even as it noted that 2019 to January 2020 crude oil and gas transactions valued at 5.18billion dollars was exported.

The report added that the vandalism of NNPC pipelines across the Country recorded a phenomenal spike of 50 percent increase in January.

“60 pipeline points were vandalized, compared to the 40 incidents recorded in December 2019.“Atlas Cove-Mosimi and Mosimi-Ibadan axis pipelines accounted for 50 per cent and 17 per cent of the breaks respectively, while all other routes accounted for the remaining 33 per cent, according to the report,” it said.

It however explained that NNPC, in collaboration with the local communities and other stakeholders, were working in harmony to curtail this menace.

The report stated that to ensure steady supply and effective distribution of Premium Motor Spirit (PMS), otherwise called petrol, across the Country, 1.20billion litres of the white product, translating to 38.68mn liters/day, were supplied for the month.



A Passionate Media professional who has a penchant for creative writing. he loves watching Movies, Playing Games and sight seeing.

Advertisement