The Nigerian National Petroleum Corporation (NNPC) says it made total revenue of ₦2.129 trillion from the sales of petroleum products between March 2020 and March 2021.

The corporation disclosed this in its Monthly Financial and Operation Reports (MFOR) released on Sunday in Abuja.

It said the sales were made by its downstream subsidiary, the Petroleum Products Marketing Company (PPMC).

According to the report, PPMC records ₦234.63 billion revenue from the sale of white products in March 2021.

This, it said, represented a 24.7 per cent increase from the ₦188.15 billion sales recorded in February.

In terms of volume, the report noted that the value translates to 1.75 billion litres of white products sold and distributed by PPMC in March 2021, compared to 1.4 billion litres in February.

This volume, it said, was made up of 1.782 billion litres of Premium Motor Spirit (PMS), petrol, and 0.45 million litres of Automotive Gas Oil (AGO), otherwise known as diesel.

Total sale of white products for the period of March 2020 to March 2021 stood at 17.374 billion litres and PMS accounted for 17.265 billion litres or 99.37 per cent.

It revealed that for the period of March 2020 to March 2021, a total of 2,911.62bcf of gas was produced representing an average daily production of 7,409.60mmscfd during the period.

According to the report, it implies that 63.18 per cent of the average daily gas produced was commercialised while the balance of 36.82 per cent was re-injected, used as upstream fuel gas or flared.

The report also revealed that the corporation recorded 70 vandalised points across its pipeline network in the period under review,

This, it said, represented a 29.63 per cent increase from the 54 points recorded in the previous month.

The March 2021MFOR is the 68th edition of the report.

Read more: https://newscentral.africa/2021/08/02/nnpc-earns-n2-129trn-from-product-sales-in-one-year/