The Nigerian National Petroleum Corporation (NNPC) recorded $2.45b crude oil export sales in 2016.

NNPC’s monthly Financial and Operations Report indicated a 13.4% rise in oil and gas sales from November 2016 to December 2016, reported All Africa. The report further showed that the total export sale in December 2016 was of $195.4m for crude oil and gas compared to the sum of $166.18m recorded in November 2016, informed Online Nigeria News.

NNPC’s report stated: “This is $20.22 million higher than the preceding month’s performance. Crude oil export sales contributed $100.37 million [or 51.36%] of the dollar transactions compared with $96.31m contribution in the previous month.”

Additionally, in January 2017, NNPC had issued an invitation for bids under the model of direct sale of crude oil and direct purchase of petroleum products.