• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Saturday, June 14, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home OIL & ENERGY

NNPC Petroleum Products Sales Rise By 92%

Nwanne Ikemefune by Nwanne Ikemefune
January 29, 2021
in OIL & ENERGY
0 0
0
NNPC Petroleum Products Sales Rise By 92%
0
SHARES
124
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The Petroleum Products Marketing Company (PPMC), a down stream subsidiary of Nigerian National Petroleum Corporation (NNPC), recorded a total of ₦158.04 bn from the sales of white products in the month of October 2020, representing 92% increase over the ₦80.15 bn sales in September 2020.

This is contained in a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, published in the October 2020 edition of the NNPC Monthly Financial and Operations Reports (MFOR).

It indicates that total revenues generated from the sales of white products for the period October 2019 to October 2020 stood at ₦1.95 tr, with Premium Motor Spirit (PMS) accounting for about 99.07% of the total sales with a value of over ₦1. 9 tr.

In terms of volume, the October 2020 sales figure translates to a total of 1.224.54 billion litres of white products sold and distributed by PPMC within the period compared with 603.39 million litres in the month of September 2020.

This comprised 1.224.20 billion litres of PMS, 0.31 million litres of Automotive Gas Oil (AGO) also known as diesel and 0.033 million litres of Dual Purpose Kerosene (DPK).

Total sales of white products for the period October 2019 to October 2020 stood at 16.462.50 billion litres and PMS accounted for 16.344.36 billion litres or 99.28%.

In the month under review, 23 pipeline points were vandalized representing about 10% increase from the 21 points recorded in September 2020. Of this figure, Mosimi Area accounted for 83% of the vandalized points while Port Harcourt Area accounted for the remaining 17%.

In the Gas Sector, a total of 214.07 Billion Cubic Feet (bcf) of natural gas was produced in the month October 2020, translating to an average daily production of 6,908.34 Million Standard Cubic Feet per Day (mmscfd). The daily average natural gas supply to power plants increased by 8.60% to 745mmscfd, equivalent to power generation of 2,801Megawatts.

For the period of October 2019 to October 2020, a total of 3,018 BCF of gas was produced, representing an average daily production of 7,658.88 mmscfd during the period.

The October 2020 MFOR also indicates that period-to-date gas production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 68.18%, 20.12% and 11.70% respectively to the total national gas production.

In terms of natural gas off take, commercialization and utilization, out of the 208.96 BCF of gas supplied in October 2020, a total of 118.40 BCF of gas was commercialized, consisting of 38.07 BCF and 88.90 BCF for the domestic and export market respectively. This comes to a total supply of 1,269.03mmscfd of gas to the domestic market and 2,870.57mmscfd of gas supplied to the export market for the month.

Previous Post

Aggregation Uncertainty Over UK BI Ruling And Reinsurance Losses: Fitch

Next Post

Coronation Insurance Profit Leaps By 254%

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Shell Commends Oloibiri Lecture Series As Platform  For Change
OIL & ENERGY

Shell Commends Oloibiri Lecture Series As Platform  For Change

April 15, 2025
Tinubu Sacks Kyari And Board Appoints New Chairman, CEO  
OIL & ENERGY

Tinubu Sacks Kyari And Board Appoints New Chairman, CEO  

April 2, 2025
Infrastructure Key to Developing Nigeria’s Gas Resources – Shell
OIL & ENERGY

Infrastructure Key to Developing Nigeria’s Gas Resources – Shell

March 5, 2025
Next Post
Extending Costs Reduction To Insurance Can Backfire, SMEs Advised

Coronation Insurance Profit Leaps By 254%

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025

How an Insurance Company is Using Entertainment to Promote Insurance Education in Africa

June 13, 2025
Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

June 12, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Supports Nigerian Pavilion at the London Design Biennale 2025

June 11, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

June 5, 2025
Premium Perspective: Insurers Earn Trust, Premium Spirals Up

Features of Insurance Make Insurance Rescue Made to Fit Obligation

June 2, 2025
Awards Drenched Leadway Pensure Exceeds Target, Records 25% Growth In 2023

Leadway Pensure Says Strategic, Early Informal Sector Inclusion Will Strengthen Pension Systems

May 30, 2025
AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

May 29, 2025
ADVERTISEMENT

Recent News

Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025

How an Insurance Company is Using Entertainment to Promote Insurance Education in Africa

June 13, 2025
Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

June 12, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Supports Nigerian Pavilion at the London Design Biennale 2025

June 11, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

June 5, 2025
Premium Perspective: Insurers Earn Trust, Premium Spirals Up

Features of Insurance Make Insurance Rescue Made to Fit Obligation

June 2, 2025
Awards Drenched Leadway Pensure Exceeds Target, Records 25% Growth In 2023

Leadway Pensure Says Strategic, Early Informal Sector Inclusion Will Strengthen Pension Systems

May 30, 2025
AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

May 29, 2025
PenOp Upgrades Appoints New Chief Operating Officer

PenOp Upgrades Appoints New Chief Operating Officer

May 28, 2025
Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

May 28, 2025
Regulatory Reinforcements Keeps Insurance System Risks Low, Safe From Sinking Platforms of Financial Institutions

Regulatory Reinforcements Keeps Insurance System Risks Low, Safe From Sinking Platforms of Financial Institutions

May 28, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Group Rolls Out Third Edition of ‘Pages to Places’ Initiative Targets 10,000 Children

May 29, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In