September 2020: NNPC has announced a total export receipt for crude oil and gas valued at $120.49 million


The Nigerian National Petroleum Corporation (NNPC) has introduced a complete export receipt for crude oil and fuel valued at $120.49 million for the month of September 2020.

An announcement by the Group General Supervisor, Group Public Affairs Division of the Company, Dr. Kennie Obateru, stated the determine is contained within the September 2020 version of the NNPC Month-to-month Monetary and Operations Report (MFOR).

READ ALSO:NNPC demands $1bn ,advance payment for crude, sales to revamp refineries

The $120.49 million crude oil and gas export receipt is a 16.28 per cent improvement on the $100.88 million posted in August 2020.

The report showed out of the figure, proceeds from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25.31 million and $9.78 million respectively. The September 2020 MFOR also indicated a trading surplus of ₦28.38 billion slightly lower than the ₦29.60 billion surplus in August 2020.

The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian Petroleum Development Company (NPDC), which recorded zero crude oil lifting from the Okono Okpoho facility during the month due to ongoing repairs.

READ ALSO: Senate probes crude oil, gas, non-oil export unrepatriated proceeds for 23 years

NNPC said for the period September 2019 to September 2020, a total of 3,039.05bcf of gas was produced representing an average daily production of 7,730.35mmscfd during the period. Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.10 per cent , 20.29 per cent and 10.61 per cent respectively to the total national gas production.

During the period under review, 21 pipeline points were vandalized representing about 43 per cent decrease from the 37 points recorded in August 2020. Of this figure, Mosimi Area accounted for 90 per cent of the vandalized points, while Port Harcourt Area accounted for the remaining 10 per cent. NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate this menace.

Leave A Reply

Your email address will not be published.

%d bloggers like this: