The Nigerian National Petroleum Corporation (NNPC) on Thursday put the nation’s total earnings from the sale of crude oil and gas from January to December 2016 at $2,445,451,363.
A statement by the corporation’s spokesman, Ndu Ughammadu, a Divisional General Management did not give figures for the corresponding period of 2015, even as it indicated a 13.4 per cent rise in oil and gas sales in December 2016, which stood at $195.40 million, as against the sum of $166.18 million in previous month.
“This is $20.22 million higher than the preceding month’s performance. Crude oil export sales contributed $100.37 million (or 51.36%) of the dollar transactions compared with $96.31 contribution in the previous month”, the report stated.
The report also indicated that the total export proceeds of $175.04 million for the month of December 2016 was “remitted to fund the JV cash call for the month of December 2016 to guarantee current and future production”.
In the downstream, a total of 1,392,154,486 litres of white products was distributed and sold by the Pipelines and Products Marketing Company (PPMC) in December 2016 compared to 1,248,831,982 litres in November 2016.
Also, total volume of 12.67 billion litres of white products was distributed in 2016, out of which petrol accounted for 88.07%, just as about 9,493,640 barrels of crude oil were processed under the Direct-Sales-Direct-Purchase (DSDP) scheme in November, 2016.