… an 111 per cent Increase in Trading Surplus
The Nigerian National Petroleum Corporation (NNPC)’s downstream subsidiary, Petroleum Products Marketing Company (PPMC) has announced that it sold petroleum products worth ₦211.62 in February.
This comprised about 1.7 billion litres of PMS and 1.09million litres of AGO. Also, there was sale of 0.01million litres of special product, Low Pour Fuel Oil (LPFO) in the month.
Total sale and distribution of white products for the period February 2019 to February 2020 stood at about 21billion litres) and PMS accounted for 20.8billion litres or 98.73 per cent.
On pipeline vandalism, it said during the period under review, a total of 32 pipeline-points malfunctioned or were vandalized, representing about 47 per cent decrease from the 60 points recorded in January 2020 comprising 22 pipeline breaches, eight-weld failures and two pipeline ruptures.
According to the report, 699mmscfd was delivered to gas-fired power plants to generate an average power of about 3,064MW, compared with January 2020 when an average of 640mmscfd was supplied to generate 2,683MW.
Other reasons cited for the increased trading surplus are the reduced deficits post by the Downstream units, refineries, as well as the NNPC corporate Headquarters, the report states.