NNPC Petrol Sales Hits #2.5tr in 13 months

Chinazor Megbolu

The Nigerian National Petroleum Corporation (NNPC) announced on Wednesday that its petroleum product sales for the last 13 months was worth N2.5 trillion.

In a statement NNPC group general manager public affairs division, Kennie Obateru disclosed that the sales recorded is between February 2019 and February 2020.

The corporation noted in the statement that it sold N211.62 billion worth of white products in February 2020 alone and that of February sales was higher than the N151.79 billion recorded in January.

The NNPC also noted that between February 2019 and 2020, the total revenue recorded from sale of white products was N2.6 trillion with petrol contributing about 98.06 per cent of the total sales value of about ₦2.5 trillion.

It further maintained that the February 2020 monthly financial and operations report showed that about 1.7 billion litres of white products were sold and distributed by Petroleum Products Marketing Company (PPMC) when compared with the 1.2 billion litres sold in January 2020.

This comprised about 1.7 billion litres of Premium Motor Spirit (PMS) and 1.09 million litres of AGO.

According to the statement, a sale of 0.01 million litres of special product, Low Pour Fuel Oil (LPFO) in the month took place.

Obateru pointed out that a total sale and distribution of white products for the period under report, February 2019 to February 2020 is about 21 billion litres and added that PMS accounted for 20.8 billion litres.

“In February 2020, a total of 32 pipeline-points malfunctioned or were vandalized, representing about 47 per cent decrease from the 60 points recorded in January 2020,” he said.

The statement further averred that 22 pipeline breaches, eight-well failures and two pipeline ruptures took place during the period.

It also hinted that Mosimi area recorded 78 per cent of total cases, while that of Port Harcourt axis was 16 per cent and all other routes recorded the remaining 6 per cent.