NNPC posts crude oil & gas export receipts of $378.42m in June

NNPC posts crude oil & gas export receipts of $378.42m in June

The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export receipt of $378.42million in June 2020 as against $133.16million it posted in May 2020, signally a marked improvement in revenue earnings apparently following the ease of the COVID-19 pandemic global lockdown and the subsequent increased demand and firmer prices for the black gold in the international market.

The NNPC in a release by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that petroleum receipts for the month reflected crude oil earnings of $230.65million, with gas and miscellaneous proceeds standing at $75.97million and $71.80million, respectively.

The release explained that details of the earnings were contained in the June 2020 Monthly Financial and Operations Report (MFOR) of NNPC, which it noted, is the 59th edition in the series.
The report, which was released in Abuja today, put total crude oil & gas export receipts for the period: June 2019 to June 2020 at $4.60billion.

In the Downstream Sector, the NNPC monthly report said in order to ensure continuous supply and effective distribution of petroleum products across the country in June, 2020, 1.34billion litres of white products were distributed and sold by NNPC’s Downstream subsidiary, the Petroleum Products Marketing Company (PPMC), saying the figure was significantly higher than the 950.67million litres of white products sold and distributed in May 2020, again an apparent reflection of the gradual ease of the lockdown in the Country and the picking up of business activities.

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Source: SweetCrudeReport

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