By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: NNPC earns N203bn from Petroleum Products Sale in July 2021
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

NNPC earns N203bn from Petroleum Products Sale in July 2021

Yusuf Abubakar
By Yusuf Abubakar
Published: December 22, 2021
Share
3 Min Read
NNPC towers
NNPC towers
SHARE

A total sum of ₦203.73billion was made on the sale of white products in the month of July 2021 by the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the Nigerian National Petroleum Company (NNPC) Ltd.

This was contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report.

The report also revealed that total revenues generated from the sales of white products for the period July 2020 to July 2021 stood at over ₦2.563 trillion where PMS contributed about 99.67% of the total sales.

Similarly, a total of 1.544billion litres of petroleum products were sold and distributed by the PPMC, in the month of July 2021 with PMS accounting for 99% of total volume.

- Advertisement -

Total sale of petroleum products for the period July 2020 to July 2021 stood at 19.535billion litres and Premium Motor Spirit (PMS) accounted for 99.73% of total volume, the report stated.

The report also indicated a 5.23 percentage increase in the average daily gas supply to power plants in the month of July 2021 which stood at 759million standard cubic feet of gas per day (MMSCFD), equivalent to power generation of 3,250MW against the June 2021 figure of 721mmscfd to generate 3,181MW.

According to the report, national gas production in July 2021 increased by 3.99% at 232.69Billion Cubic Feet (BCF) compared to output in the previous month, translating to an average daily production of 7,502.28mmscfd.

For the period July 2020 to July 2021, a total of 2,891.53BCF of gas was produced representing an average daily production of 7,305.43mmscfd.

- Advertisement -

Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 58.67%, 20.45% and 20.89% respectively to the total national gas production.

In the Downstream sector, to ensure sustained increase and effective distribution of petroleum products, especially Premium Motor Spirit (PMS), across the country, the NNPC has continued to diligently monitor the daily stock of petrol to achieve success in this regard.

In July 2021, the MFOR noted that 42 pipeline points were vandalized representing 10.64% decrease from the 47 points recorded in June 2021.

This month, Port Harcourt area accounted for 40% and Mosimi Area accounted for 60% of the vandalized points.

In the Upstream, NNPC recorded total export receipt of $191.26million in July 2021 as against $188.00million in June 2021.

Receipts from crude oil amounted to $12.95million while gas and miscellaneous receipts stood at $78.69million and $99.61million respectively.

Total crude oil and gas export receipt for the period July 2020 to July 2021 stood at $1.73billion.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NNPC
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByYusuf Abubakar
Follow:
Yusuf Abubakar, Born in the mid-’90s, a recipient of various meritorious awards, a passionate entrepreneur, an advocate of good governance, a toast master and a patriotic Nigerian.
Previous Article Nigerian Senate Senate passes 2022 budget, shifts Electoral Bill matters to 2022
Next Article First Bank of Nigeria FirstBank: Unlocking wealth in salary account

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Parallel Market Rates

Okay.ng Logo
USD
Buy₦1,555.00
Sell₦1,568.00
GBP
Buy₦1,770.00
Sell₦1,800.00
EUR
Buy₦2,140.00
Sell₦2,175.00

Updated: 6 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

INEC Releases New Guidelines on Election Result Reviews, Confirms 122 Applications for New Political Parties
News
NEPC Debunks Promotion Exam Allegations, Says Process Adheres to Civil Service Rules
News
9mobile Subscribers to Access MTN Network Under New Three-Year Deal
Telcos
Peter Rufai
Peter Rufai, Legendary Super Eagles Goalkeeper, Is Dead
Sport
David Mark, Atiku’s Coalition Efforts Not Reflective of PDP’s Official Stance, Party Clarifies
Politics
- Advertisement -
Ad imageAd image

You May Also Like

Peter Obi
Politics

Labour Party Demands Peter Obi’s Resignation Within 48 Hours

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 3, 2025
Politics

Seven Akwa Ibom House of Representatives Members Defect to APC

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 3, 2025
Business

Black Market Exchange Rate: Dollar to Naira – Today – 3rd July 2025

Okay.ng
Okay.ng
July 3, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?