19 February 2019

Nigeria: NNPC Supplied 19 Billion Litres of Petrol in 13 Months

Abuja — The Nigerian National Petroleum Corporation (NNPC) has disclosed that in the last 13 months, it supplied a total of 19,437,894,096.66 billion litres of petroleum products into the Nigerian downstream sector through its Direct Sales Direct Purchase (DSDP) programme.

The period was between November 2017 and November 2018.

The corporation, stated this in the November 2018 edition of its monthly operations and financial report which was posted on its website.

According to the report, out of the total volume of petroleum supplied through the DSDP in the 13 months under review, the volume of petrol supplied was the highest and amounted to 19,242,475,780.64 litres while kerosene was 195,418,316.02.

It noted that while it brought in petrol during the period under the DSDP, it was only able to do so for kerosene under the DSDP in January 2018 - 33,794,490.58 litres; June 2018 - 43,427,408.64; July - 46,693,719.07; and 44,294,402.77 litres in August.

"In November 2018, 1,608.17million litres of PMS (Premium Motor Spirit) were supplied into the country through the DSDP arrangement as against the 1,752.01million litres of PMS supplied in the month of October 2018," said the report.

With regards to crude oil lifted for the use in the DSDP, NNPC explained that in October 2018, it lifted 8,514,146 barrels of crude oil for domestic utilisation, translating to an average volume of 274,649.87 barrels of oil per day in terms of performance.

It stated that in order to meet domestic product supply requirement for the month of October 2018, about 8,514,146 barrels were processed under the DSDP scheme, adding that no barrel of crude oil was delivered to the domestic refineries for processing within the period.

Similarly, in terms of monetary value for the crude oil lifted for domestic supplies, the NNPC explained that $7,845,491,732.71 was the value of the lifting between October 2017 and October 2018; with its naira equivalent put at N2, 392,089,687,584.68, adding that the prices of crude oil were averagely valued at $70.17 per barrel.

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