NNPC records 64.8% increase in sales to $139.5m in August

The Nigerian National Petroleum Corporation (NNPC), has revealed that total Crude Oil & Gas export sale of $139.50 million was recorded in August 2020 indicating an increase by 64.84 per cent compared to the previous month.

Of this number, Crude Oil export sales contributed $80.27 million (57.54 per cent) of the dollar transactions compared with $55.29 million contribution in the previous month; while the export Gas sales amounted to $59.23 million in the month.

According to Blueprint report, the August 2019 to August 2020 Crude Oil and Gas transactions indicated that Crude Oil and Gas worth $3.71 billion was exported.

The Corporation also said that it supplied 727 Million Standard Cubic Feet per day (mmscfd) of natural gas for power generation to the country in the month of August, 2020, an equivalent of 2,538MW of power.

This represents an increase of 2.80 per cent from the previous month.
The NNPC in a release by Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division, stated  that the recently released  August 2020 NNPC Monthly Financial and Operations Report (MFOR) indicated that Natural  Gas production in August 2020 increased by 0.13 per cent at 236.66 Billion Cubic Feet (BCF) compared to output in July 2020; translating to an average daily production of 7,639.99mmscfd.

For the period August 2019 to August 2020, a total of 3,062.95 BCF of gas was produced representing an average daily production of 7,771.13 mmscfd during the period. Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and the Nigerian Petroleum Development Company (NPDC) contributed about 69.96 per cent, 20.26 per cent and 9.78 per cent respectively to the total national gas production.