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NNPC earns $470m from oil, gas export in one month

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The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that it recorded crude oil and gas export sale of $470 million in August 2018, indicating an upsurge of about $78 million in relation to July oil and gas export figures of $391.91 million.

Group Managing Director of the NNPC, Dr Maikanti Baru

In a statement on its Monthly Financial and Operations report for August 2018 released in Abuja, Group General Manager, Group Public Affairs of the NNPC, Mr. Ndu Ughamadu, indicated that crude oil export sales contributed $337.62 million which represents 71.83 per cent of the dollar transactions compared with $283.43 million contribution in the previous month.

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Ughamadu noted that export gas sales during the period amounted to $132.38 million, adding that the August 2017 to August 2018 crude oil and gas transactions involved crude oil and gas export worth $5.26billion.

He further explained that based on the above sales figures, a total export receipt of $450.24 million was recorded in August 2018 as receipt against $382.65million in July 2018.

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Contribution from crude oil during the period, he stated, amounted to $336.43 million, while gas and miscellaneous receipt stood at $101.33 million and $12.48 million respectively.

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