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HomeBusiness & EconomyNigerians Consumed 54.5m Litres Of Petrol Daily In June – NNPC

Nigerians Consumed 54.5m Litres Of Petrol Daily In June – NNPC

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The Nigerian National Petroleum Company (NNPC) Limited has said 54.5 million litres of Premium Motor Spirit (PMS) otherwise called petrol was consumed in June 2021.

This means that daily petrol consumption dropped by 17.8m in June from the 72.3m litres daily recorded in May.

A statement from NNPC yesterday said this was part the June 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR). 

According to the report, the company said to ensure continuous supply and effective distribution of PMS across the country, a total of 1.63 billion litres of PMS translating to 54.50m litres per day were supplied in June 2021.

NNPC in September, said 72.3m litres of petrol was consumed daily with a 2.241bn litre cumulative in May.

In the latest June report, the firm also announced a trading surplus of N141.96bn compared to a deficit of N37.46bn in May. The revenue was reached after NNPC deducted expenses from its income in June.

NNPC Group operating revenue dropped in June by 9.07% or N89.27bn to N894.64bn compared to the May figures. Its expenditure decreased by 29.32% or N299.44bn to N721.93bn. 

It said the increased trade revenue was due to higher crude oil sales by the Nigerian Petroleum Development Company (NPDC), and more gas sales by the Nigerian Gas Company (NGC). There was also good performance by Duke Oil and the Nigerian Gas Marketing Company (NGMC), all subsidiaries of NNPC Ltd.

On vandalism, 47 pipeline points were vandalized, a 26% decrease from the 64 points recorded in May 2021. Mosimi area in Ibadan recorded more vandalism followed by Port Harcourt area and Kaduna area.

In the gas sector, 223.77bn cubic feet (bcf) of natural gas was produced in June 2021 translating to an average daily production of 7,459.88 million standard cubic feet per day (mmscfd).

Daily Trust reports.

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