05 December 2016, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Pipeline and Products Marketing Company (PPMC) earned N105.958 billion from the sale of petroleum products in the month of September 2016, according to a latest report released by the corporation.
The NNPC, in its financial and operational report for September 2016, disclosed that of the total amount, N96.058 billion was for white products, while N9.9 billion was for special products.
In the white products category, the NNPC and the PPMC recorded revenue of N952.43 billion from Premium Motor Spirit (PMS); N59.215 billion from Automotive Gasoline Oil (AGO) and N58.33 billion from Dual Purpose Kerosene (DPK).
On the other hand, in the Special Products category, Low Pour Fuel Oil (LPFO) fetched the NNPC and the PPMC N7.59 billion, while they received N8.71 billion from other unlisted special products.
Specifically, according to the report, this translates to total petroleum product sales of 886.44 million litres in the month of September, with white products accounting for 783.07 million litres and special products accounting for 103.37 million litres.
In the white product category, the report noted that 659.3 million litres of PMS were sold in the period under review; 65.8 million litres of AGO was sold, while DPK sales amounted to 57.96 million litres.
In addition, 48.14 million litres of LPFO was sold in the month under review, while 57.23 million litres of other special products was sold.
Furthermore, the NNPC disclosed that in the month under review, 460.63 million litres of white products was supplied into the country through the Direct Sale-Direct Purchase (DSDP) arrangements while 901.53 million litres was supplied in the month of August 2016; while PMS and DPK supplied through DSDP were 426.97 million and 33.66 million respectively.
The NNPC also stated that petroleum products, PMS and DPK only, production by the domestic refineries in September 2016 amounted to 107.59 million litres compared to 219.61 million litres in August 2016.
It said, “Total Crude processed by the three local Refineries, Kaduna, Port Harcourt and Warri refineries, for the month of September 2016 was 252,897 metric tonnes, about 1.854 barrels, translating to a combined yield efficiency of 84.86 per cent, compared to crude processed in August 2016, which was 359,081 metric tonnes, about 2.633 barrels and intermediate of 16,305 metric tonnes, 119,548 barrels, which translates to a combined yield efficiency of 86.89 per cent.
“For the month of September 2016, the three Refineries produced 139,724 metric tonnes of finished petroleum products and 74,885 metric tonnes of intermediate products out of 252,897 metric tonnes of crude processed at a combined capacity utilisation of 13.89 compared to 19.09 percent combined capacity utilisation achieved in the month of August 2016.
“The abysmal performance was due to crude pipeline vandalism in the Niger Delta region and the three Refineries continue to operate at minimal capacity.”