NNPC Coming Clean?

The Nigeria National Petroleum Corporation, NNPC, has published its fInancial report without a breakdown of sales and expenses.
Only operating deficit of 60 billion Naira and 70 Billion Naira for August and September.

NNPC monthly report for September which correspond to August transactions is out
As reflected in the SUB-TOTAL GOVERNMENT section of the document, the following correspond to Nigeria;

1) 21, 471, 886 Million Barrels
2) $981, 501, 662 Million Dollars

A  total of 63.34 million barrels of crude oil & condensate was produced for the month of August 2015 representing an average daily production of 2.04 million barrels .This represents a decline of production by about 6.16% relative to July, 2015 performance. Of the August, 2015 Production, Joint Ventures (JVs) and Production Sharing Contracts (PSC) contributed about 32.40% and 41.84% respectively. While other production arrangements accounted for 25.76%. 
National Gas Production 
A total of 246 billion standard cubic feet (BCF) of natural gas was produced for the month of September 2015 translating to an average daily production of 8,187 million standard cubic feet per day (mmscfd). 

In August 2015, NNPC lifted 10,902,373 barrels of Crude Oil for domestic utilization translating to an average volume of 351,689 barrels of oil per day. In order to meet domestic product supply requirement for the month of August 2015, 6,643,327 barrels of crude oil was processed through Offshore Processing Agreements (OPA), 2,397,681 barrels was processed in the domestic refineries and the balance of 1,861,365 barrels was sold in the export market.
Total Crude processed by the three Refineries, for the month of September was 261,371.14 bbls (35,648 MT) which translates to a combined capacity utilization of 1.96%.
The combined value of output by the three refineries (at import parity price) for the month of September 2015 amounted to N9.91billion while the associated Crude plus freight cost was N6.35 billion, giving a loss of N8.84 billion after considering overhead of N12.40 billion.

Petroleum Product Supply from Off-shore Processing Agreements (OPA)
 In September 2015, 763.90 million litres of white products was supplied into the country through the OPA arrangements compared with a volume of 701.29 million litres achieved in the prior month of August 2015. DPK receipt in September was 196.30 million litres compared with zero litres imported in the prior month of August.

The PMS supply in September 2015 was 567.60million litres compared to August 2015 supply of 701.29million litres. 
Downstream Petroleum Product Distributions A total of 507.90 million litres of white product was distributed and sold by PPMC in the month of September 2015 compared with 606.84 million litres in the prior month of August. This is comprised of 456.81 million litres of PMS, 31.41 million litres of Kerosene and 19.68 million litres of Diesel. 

Summary of Group Operating Expenditure and Revenue for September 2015 Group operating revenue before subsidy for the months of August and September 2015 were N146.53billion and N112.51billion respectively. This represents 47.88% and 36.77% respectively of monthly budget. Similarly, operating expenditure for the same periods were N207.37billion and N171.91billion respectively, which also represents 77.64% and 64.36% respectively of budget for the months. Operating deficits of N60.84billion and N70.44 for August and September 2015 respectively was attained as against monthly budgeted surplus of N38.91billion

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