NNPC pays N153.01 billion into federation account in January
The Nigerian National Petroleum Corporation says it transferred N153.01 billion into the federation account in January.
It attributed the positive financial position to the improved performance of NNPC’s upstream subsidiary, Nigerian Petroleum Development Company , which recorded surplus numbers in spite of reduced operational activities in the month. A breakdown of the numbers indicated that contributions from crude oil amounted to 269.43 million dollars, while gas and miscellaneous receipts stood at 111.75 and 0.52 million dollars.
On pipeline vandalism, the corporation recorded 230 hacked pipeline points, leaving only two ruptured.A breakdown indicated that Mosimi-Ibadan, Ibadan-Ilorin and Aba-Enugu pipelines accounted for 67, 62 and 30 points which translated to 29 per cent, 27 per cent and 13 per cent of the vandalised points.
According to the report, out of the volume supplied in January 2019, a total of 151.50bcf of gas was commercialised, consisting of 38.03BCF and 113.47 BCF for the domestic and export market.
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