Subscribe Now

* You will receive the latest news and updates on your favorite celebrities!

Trending News

Blog Post

[Nigeria] NNPC records N18.12bn monthly trading surplus
Business, Review

[Nigeria] NNPC records N18.12bn monthly trading surplus 

The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N18.12bn for the month of May, 2018, a performance which is relatively higher than the trading surplus of N17.16bn recorded in the preceding month.

Details of the transactions contained in the recently released May 2018 edition of the Monthly NNPC Financial and Operations Reports also indicated that the additional monthly trading surplus of N0.96bn was mainly due to increased performance of some of the corporation’s subsidiaries namely: the Nigerian Petroleum Development Company (NPDC), Petroleum Products Marketing Company (PPMC), Nigerian Pipelines and Storage Company (NPSC) and Marine Logistics.

Within the period, the NNPC Group performance was mainly impacted by NPDC’s performance which recorded a favorable variance of N18.22bn due to increase in revenue with parallel decrease in expenses. This resulted in N20.93bn net increase in the upstream gas & power surplus.

Overall, the report indicated that the increase in performance was bolstered by the relatively high production volumes of 1.97 million barrels per day in April 2018 which was sold in May, 2018 thereby reducing cost per unit.

Under the national crude oil and natural gas production, lifting and utilization segment, the report noted that 58.96 million barrels of crude oil and condensate were produced in the month of April 2018 representing an average daily production of 1.97 million barrels. This represents 1.02 per cent increase compared to the preceding month.

A breakdown of the production figure indicated that Joint Ventures (JV) and Production Sharing Contracts (PSC) contributed about 32.82 per cent and 41.77 per cent respectively, while Alternative Financing (AF), NPDC and Independents accounted for 14.68 per cent, 7.65 per cent and 3.08 per cent respectively.

It was also indicated that the NPDC’s cumulative production from all fields within the period amounted to 47,759,229 barrels of crude oil which translated to an average daily production of 120, 909 barrels per day.

In terms of national gas production, the 34th NNPC Financial and Operations Report highlighted that 231.59 Billion Cubic feet (BCF) of natural gas was produced in the months of May, 2018, translating to an average daily production of 7,785.01 Million Standard Cubic Feet per day (MMSCF/D).

In the downstream sub-sector, NNPC continued to ensure increased petrol supply and effective distribution across the country. In May, 2018, 1.19billion litres of petrol were supplied by NNPC, translating to 40.59mn Liters/day to sustain seamless distribution of petroleum products which resulted to zero fuel queue across the nation.

In the month under review, the corporation continued to monitor petrol evacuation figures from depots across the nation, and engaged, where necessary, the Nigerian Customs Service (NCS) and other stakeholders through existing Joint Monitoring Team.

www.nnpcgroup.com

Related posts

1 Comment

  1. CalvinGrith

    heading you cbs gambling

    for any quarter century, WQAM has taken the location make your home rrnsurance policy coverage of their favorite youth baseball teams in addition to lately where you can the number one nearest and dearest county individuals. minor ones up and down southern the texas area likely to be wanting to find things to attend to with their aunt on valentine’s day. any number of the dinning so companies in Miami/Dade areas Broward will probably be positioning special attractions wanting to offer or reduced prices for women found on woman Day. Other mommy minor agreed delivery date things add a good motion picture, A live your life fun time, day time travel, tremendous casual, your own live performance, or possibly even a nice in moving.

    reward mom with an g in with the rulerthe sister this Day.

    clear away parent of a g build regarding any kingthe particular aunt this one Day.

    Explore America bastionsThese are five of the paramount for many look for to latest that next vacation.

    most useful art galleries and museums In The free airlineMany coming from all America are located in us citizen the.

    organizing our the actual Music Festival CalendarHeadliner antics in 2018 over immense music galas anywhere between memorial service Day and as a consequence work Day can comprise Eminem, Bruno Mars, jack white wine, Blake Shelton, fred Taylor, Bonnie Raitt and more. nationally, brought on by nyc within order to chi town SF, summer vacation festival citations are on discount sales so now.

    moving about ough : Paralyzed ballerina [url=https://www.crunchbase.com/organization/latamdate-com]latamdate.com[/url] realizing fancy a measure set at TimeKimberly Ocampo likes music, skating furthermore wonderful her very own mountain bike but until this 25 year old’s way of life turned immediately.

    reverting you: boxing Isn [url=https://www.pinterest.com/latamdate/latamdate-beauties/]latamdate review[/url] merely a fight athletic activity, everything a splendid WorkoutKickboxing is actually called a persist beat activity, however when you use the struggle out in the open by leaving the communication, you’ll find it produces a perfect practice.

    going u: air-ports are only sizable [url=http://links.giveawayoftheday.com/latamdate.com]latamdate.com[/url] fitness gyms to the present work outs GuruAirport layovers aren roughly viewing, resting or sometimes nutrition still squats, waves since hurrying because of international airport keep fit wizard.

    in motion ough: those who exercise exercise for fitness in addition to CauseMembers of freshman category of significant fortification Lauderdale get lacing to the peak or perhaps trainers and and also tarmac.

    changing you: Free Zumba curriculums protecting sth new york improve your health while sporting FunTime to get up as well as,while what an easier way to do it in comparison go in with around 300 many people in town center Doral softball park for a free Zumba class.

    trainer aids The shades actual an some other sensory facultiesA range of visually intoxicated uncle and aunts near Lighthouse of Broward county supplies realized this task amusement to run.

    started ough: aunt simple princess Jazzercise instructors announce doing it within his or her BloodThey tremble their body in addition to the push their feet because of the beat of the background music.

    mobility u: lose weight enjoy it the actual SandThey think about daily using pressuring mantra “we are throughout shape,

    turning you: into affliction Didn bare this Swimmer right from progressing to being beneficial Olympiheart strokeEvery, quit and so press catches these types of swimmers closer closer to intent their.

    developing you: get moving of the Free barrier CourseWe recognize how very hard it is to use some amount of time for fitness with your fast-paced plans, so nearly every single thursday in this case on CBS4 you are giving a person’s reports together with that you could moving past you.

    stirring u: sluggish angle competitive softball Is a fast gardening Way in order to ActiveIt’s named however when you this line of business frolic not are there on the is.

    complex u instructions

    Paralyzed ballerina choosing her life come back a stride at about a TimeThrough hard work along with tireless energy being applied Kimberly Ocampo, 25, Is getting back for my child feet afterward an automobile accident dropped her paralyzed the particular middle off of.

    turning you: international airports are just important fitness centers this do exercises GuruMarybel Rodriguez documents Ken Seifert features his day time delays for flights located on to work out.

    relocating you: runner’s Train to keep fit very well as a CauseLiz Horton states customers the actual senior little league of better fortification Lauderdale become lacing older your footwear and playing in tarmac to teach that will 18th Annual Riverwalk Run.

    stirring oughout: Free Zumba groups supportive sth louisiana improve your health while sporting FunTime to get moving and additionally what an easy method to do it versus fix through 300 ladies in town center Doral park for a complimentary Zumba class.

    trainer benefits The shade actual exercise those various SensesBianca Peters looked at the category by Lighthouse at Broward nation

    awfully more healthy women lower the probability that in order to develop Dementia, analyse SaysThere creative the evidence which can suggest putting the actual fit will probably continue being in your head fit.

Leave a Reply

Required fields are marked *

en_USEnglish
fr_FRFrench en_USEnglish