Nigerian National Petroleum Corporation (NNPC) says it supplied 1.16 billion litres of petrol in October 2019, translating to 37.30 million litres per day. This figure represents a drop of 570m litres from the 1.76b litres at 55.74m litres per day distributed in July 2019.

The corporation said it recorded a trading surplus of N13.23b in October 2019, a 54% increase from the N8.59b posted in September.

In a statement signed by Samson Makoji, acting general manager for the public affairs division, said there were 35 vandalised pipeline points in the month under review compared to 186 vandalised points in September.

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

“To underline the increasing fortunes of the corporation in recent times, the September 2019 trading surplus of ₦8.59b, in turn, indicated a significant increase of 65% compared to the ₦5.20b surplus posted in August 2019, even as that beat the ₦4.26b surplus posted in July 2019, reflecting an increase of 22%.”

According to the 51st edition of the monthly financial and operations report, the total crude oil and gas export was worth $483.25m in October 2019. A breakdown showed that crude oil export sales contributed $396.94m (82.14%) of the dollar transactions while export gas sales for the month amounted to $86.32m.

The October 2018 to October 2019 crude oil and Gas transactions indicated that crude oil & gas worth $5.4b was exported.

In November, the federal government, through the Nigeria Customs Service, directed that petroleum products should not be supplied to fuel stations within 20km of the borders. The action, which is ongoing, is being carried out under the Operation Swift Response which is supervising the land border closure to check smuggling activities.

SOURCE (abridged): http://petrobarometer.thecable.ng/2020/01/02/nnpc-petrol-distribution-drops-570m-litres-four-months/

Hmmnnn...