NNPC Exports $378 MM Worth of Oil, Gas in June

NNPC Exports $378 MM Worth of Oil, Gas in June

The Nigerian National Petroleum Corporation (NNPC) exported $378.42m worth of crude oil and gas in June 2020, according to The Whistler.

The June total exports were $245.26 million higher than the $133.16 million posted in May. This suggests that the global oil demand recovery is underway after the world emerges from lockdown.

The month’s $378 million worth of exports can be broken down into the following sectors: crude oil earnings totaled $230.65 million, with gas and miscellaneous proceeds standing at $75.97 million and $71.8 million, respectively.

In terms of the downstream sector, the NNPC ensured continuous supply and effective distribution of petroleum products across the country in June this year: 1.34 billion liters of white products (benzene, kerosene, and gasoline) were distributed and sold by NNPC’s Downstream subsidiary, the Petroleum Products Marketing Company. This is higher than the 950.67 million liters of white products sold and distributed in May 2020.

Gas flaring was down 1.73% YoY to a total of 472.94 million standard cubic feet of gas per day (mcf/d).


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