{"id":10935,"date":"2017-02-17T13:47:09","date_gmt":"2017-02-17T12:47:09","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10935"},"modified":"2017-02-17T13:47:09","modified_gmt":"2017-02-17T12:47:09","slug":"fg-nets-2-445bn-from-crude-sales-in-2016","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fg-nets-2-445bn-from-crude-sales-in-2016\/","title":{"rendered":"FG nets $2.445bn from crude sales in 2016"},"content":{"rendered":"

The<\/b> Nigerian National Petroleum Corporation (NNPC), yesterday disclosed that total export sales of crude oil and gas for the country from January to December 2016 stands at $2,445,451,363.<\/p>\n

According to a statement from the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, the national oil firm recorded a total export sale of $195.40 million in crude oil and gas in December 2016 as against $166.18 million recorded in November 2016. The figure, he noted, is $20.22 million higher than the preceding month.<\/p>\n

NNPC, he added, also recorded a 13.4 per cent rise in oil and gas sales in December 2016 over sales in November 2016,\u201d he said.<\/p>\n

Ughamadu noted that crude oil export sales contributed $100.37 million (or 51.36 per cent) of the dollar transactions compared with $96.31 contribution in the previous month,\u201d the report stated. He quoted NNPC\u2019s monthly report as indicating that the total export proceeds of $175.04 million for the month of December 2016 was \u201cremitted to fund the Joint Venture cash call for the month of December 2016 to guarantee current and future production.<\/p>\n

\u201cIn 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. Of the total volume of 12.67 billion litres of white products distributed in 2016, petrol accounted for 88.07 per cent,\u201d he stated.<\/p>

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The report, he said, also revealed that about 9,493,640 barrels of crude oil were processed under the Direct-Sales-Direct-Purchase (DSDP) scheme in November 2016.<\/p>\n

On vandalism, Ughamadu said the NNPC recorded a marked reduction in the cases of pipeline sabotage.<\/p>\n

\u201cOnly 18 cases of vandalised points on downstream pipelines were recorded in November 2016 as against 43 in the previous month. The downward trend in the cases of pipeline sabotage, according to the report, was due to sustained engagement with stakeholders by the Federal Government and the corporation,\u201d he noted.<\/p>\n

Culled from Sun Newspaper<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian National Petroleum Corporation (NNPC), yesterday disclosed that total export sales of crude oil and gas for the country from January to December 2016 stands at $2,445,451,363. According to a statement from the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, the national oil firm recorded a total export sale of $195.40 million …<\/p>\n","protected":false},"author":11,"featured_media":10748,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[714],"coauthors":[2392,2393],"class_list":["post-10935","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-fg"],"yoast_head":"\nFG nets $2.445bn from crude sales in 2016 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fg-nets-2-445bn-from-crude-sales-in-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG nets $2.445bn from crude sales in 2016 - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Nigerian National Petroleum Corporation (NNPC), yesterday disclosed that total export sales of crude oil and gas for the country from January to December 2016 stands at $2,445,451,363. 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