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The Nigerian National Petroleum Corporation (NNPC), has recorded trading surplus of N17.16 billion in April, 2018. NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, who made this known in a statement, on Thursday September 20, 2018, said the development was part of the highlight of the Corporation’s Monthly Financial and Operations Report for the review period.
The report, which is the 33rd edition since NNPC commenced the monthly publication of its financial and operations data as part of efforts to instill a culture of transparency and keep stakeholders, and the general public informed of its activities, indicated a N5.43billion improvement representing 46.29 per cent on the trading surplus recorded in the previous month of March, 2018.
According to the report released in Abuja, the trading surplus was achieved through a combined higher performance by the upstream, midstream (refineries) and downstream sectors, as well as a reduction in the Corporate Headquarters’ operational expenditure.
It said: “This enhanced performance is attributable to robust revenues from sales of crude oil and petroleum products by NPDC and PPMC as well as the upsurge in refineries’ performance, particularly in the Port Harcourt Refining Company (PHRC).” On the gas production and supply front, it indicated that the average daily production for April, 2018, stood at 8,054.46 billion cubic feet (bcf).
Photo Caption: NNPC LOGO
