NNPC earns N203bn from white products sale in August 2021

The Nigerian National Petroleum Company (NNPC) earned N203billion from the sale of white products in August 2021.

This is the value of a total of 1.532billion litres of white products sold and distributed by the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, in the month under review.

This is contained in the NNPC’s 73rd monthly financial and operations report.

According to the report, Petroleum Motor Spirit (PMS) accounted for 99 per cent of the total sales, while Automotive Gas Oil (AGO), also known as diesel, accounted for the rest.

Between August 2020 to August 2021 the total revenue generated from the sales of white products is put at N2.619trillion.

Petrol within the period contributed about 99.76 per cent of the total sales with a value of N2.613trillion.

Also, 21 pipeline points were according to the report, vandalised representing a 50 per cent decrease from the 42 points recorded in July 2021.

According to the report, the Port Harcourt area accounted for 10 per cent, while Mosimi Area accounted for 90 per cent of the vandalised points.

“In line with the Company’s commitment to the principles of accountability, transparency and performance excellence, the NNPC Ltd. has continued to sustain effective communication with stakeholders through the publication of the MFOR on its website,” it said.

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NNPC earns N203bn from white products sale in August 2021