The Nigerian National Petroleum Corporation on Sunday announced a trading surplus of N6.33bn for the month of May, a figure which is 13 per cent higher than the N5.6bn surplus posted in the preceding month of April.
Details of the corporation’s performance contained in the May edition of its Monthly Financial and Operations Report attributed the marginal rise to the increase in gas and power output in contrast to the figure for the preceding month.
The report, which was made public by the Group General Manager, Group Public Affairs Division, NNPC, Ndu Ughamadu, also attributed the result to the surplus recorded by the corporation’s downstream entities.
The report further indicated that within the period, the corporation recorded a total of $580.32m in export sale of crude oil and gas, which was 23.39 per cent higher than the previous month’s figure.
Out of this number, crude oil export sales contributed $458.59m, which translated to 79.02 per cent of the entire dollar transactions, compared with the $342.11m that was contributed in the previous month.
The report showed that between May 2018 and May 2019, crude oil and gas worth $5.97bn was exported.
In the downstream, to ensure uninterrupted supply and effective distribution of petrol across the country, a total of 2.06b billion litres of petrol translating to 66.49 million litres per day were supplied in the month of May 2019.
NNPC stated that beyond supply, it had continued to diligently monitor the daily stock of petrol to achieve smooth distribution of petroleum products and zero fuel queue across the country.
Source: Punch Newspaper.
