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NNPC Records N211.62b From Petroleum Products Sales

The Nigerian National Petroleum Corporation (NNPC) on Tuesday in Abuja said its downstream subsidiary, Petroleum Products Marketing Company (PPMC), netted N211.62 billion from the sale of white products in February.

In a statement, its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that the cash, contained in the February NNPC Monthly Financial and Operations Report (MFOR), was higher compared to the previous month’s record of N151.79billion.

The report also indicated that total revenue recorded from the sale of white products between February, last year and this February stood at N2.6trillion, with petrol contributing about 98.06 per cent of the total sales of about N2.5trillion.

The report stated that about 1.7billion litres of white products were sold and distributed by PPMC in February compared with about 1.2 billion litres sold in January.

This comprised about 1.7 billion litres of PMS and 1.09million litres of automotive gas oil (AGO).

Also, there was sale of 0.01million litres of special product, Low Pour Fuel Oil (LPFO) in the month.

Total sale and distribution of white products from February, last year to February, this year stood at about 21 billion litres and PMS accounted for 20.8billion litres or 98.73 per cent.

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