{"id":9168,"date":"2020-09-17T18:03:47","date_gmt":"2020-09-17T18:03:47","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=9168"},"modified":"2020-09-17T18:11:07","modified_gmt":"2020-09-17T18:11:07","slug":"nigeria-nnpc-records-52-95m-trading-surplus-in-july","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-nnpc-records-52-95m-trading-surplus-in-july\/","title":{"rendered":"NIGERIA: NNPC Records $52.95M Trading Surplus in July"},"content":{"rendered":"<div>The Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of $52.95M (\u20a620.36 billion) in July 2020 compared to the $5.5M (\u20a62.12 billion) surplus in June 2020 in its operations.<\/div>\n<div><\/div>\n<div>Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division of the corporation, in a release in Abuja, explained that details of the figures captured in the July 2020 NNPC Monthly Financial and Operations Report (MFOR) indicated that the 858 per cent overall upswell in performance was largely due to the 178 per cent rise in the surplus posted by the Nigerian Petroleum Development Company (NPDC), NNPC\u2019s flagship Upstream entity.<\/div>\n<div><\/div>\n<div>The release stated that the NPDC\u2019s impressive result was bolstered by the continuous improvement in global crude oil demand for the third consecutive month.<\/div>\n<div><\/div>\n<div>Similarly, the report said the corporation\u2019s fortune was further enhanced by the 739 per cent increased profit posted by the Integrated Data Services Limited (IDSL) and a 51 per cent growth in performance by Duke Oil Incorporated, both companies of NNPC.<\/div>\n<div><\/div>\n<div>Returns from NNPC Retail Limited and Nigerian Gas Marketing Company (NGMC) during the period under review also grew by 28 per cent and 24 per cent respectively, owing to increased sales and improved debt collection.<\/div>\n<div><\/div>\n<div>In the Gas sector, Gas production in July 2020 increased by 2.19 per cent at 236.34 Billion Cubic Feet (BCF) compared to output in June 2020; translating to an average daily production of 7,623.98 Million Standard Cubic Feet of gas per day (mmscfd). Likewise, the daily average\u00a0 supply to gas power plants stood at 707 mmscfd, equivalent to power generation of 2,421MW.<\/div>\n<div><\/div>\n<div>For the period July 2019 to July 2020, 3,079.64 BCF of gas was produced, representing an average daily production of 7,812.11 mmscfd during the period.<\/div>\n<div><\/div>\n<div>Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 70.88 per cent, 20.37 per cent and 8.75 per cent respectively to the total national gas production.<\/div>\n<div><\/div>\n<div>In the Downstream Sector, to ensure continuous stability in Premium Motor Spirit (PMS) supply and effective distribution across the country, 1.02billion litres of PMS translating to 32.95mn liters\/day were supplied for the month.<\/div>\n<div><\/div>\n<div>The July NNPC MFOR stated that the corporation has continued to diligently monitor the daily stock of PMS to achieve smooth distribution of petroleum products and zero fuel queue across the Nation.<\/div>\n<div><\/div>\n<div>The report noted that during the period under review, 36 pipeline points were vandalized, representing about 9 per cent increase from the 33 points recorded in June 2020.<\/div>\n<div><\/div>\n<div>Atlas Cove-Mosimi and Aba-Enugu network accounted for 28 per cent each, while PHC-Aba and the other locations recorded 14 per cent and the remaining 31 per cent respectively. NNPC in collaboration with the local communities and other stakeholders continuously have strived to reduce the menace of pipeline vandalism.<\/div>\n<div><\/div>\n<div>The July NNPC MFOR is the 60th edition in the series meant to sustain effective communication with stakeholders.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of $52.95M (\u20a620.36 billion) in July 2020 compared to the $5.5M (\u20a62.12 billion) surplus in June 2020 in &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-nnpc-records-52-95m-trading-surplus-in-july\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[8457,955,8456,8459,1752,8455,8117,8458,1781],"class_list":["post-9168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-duke-oil-incorporated","tag-gas","tag-integrated-data-services-limited","tag-nigerian-gas-marketing-company","tag-nigerian-national-petroleum-corporation","tag-nigerian-petroleum-development-company","tag-nnpc","tag-nnpc-retail-limited","tag-npdc","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-1.jpg?fit=1280%2C720&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2nS","jetpack-related-posts":[{"id":9198,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-canadian-overseas-petroleum-operations-update\/","url_meta":{"origin":9168,"position":0},"title":"NIGERIA: Canadian Overseas Petroleum Operations Update","author":"","date":"September 24, 2020","format":false,"excerpt":"Canadian Overseas Petroleum Limited has announces that further to the announcement of its second quarter results on 15th\u00a0September 2020, COPL is giving an update on its drilling licence extension for OPL 226.\u00a0 On 4th August 2020, the Company announced that shareholders of the Nigerian Affiliate had executed definitive agreements to\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NIGERIA-opl226.png?fit=720%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NIGERIA-opl226.png?fit=720%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NIGERIA-opl226.png?fit=720%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NIGERIA-opl226.png?fit=720%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8893,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigerian-national-petroleum-corporation-commits-to-transparency-by-becoming-an-eiti-supporting-company\/","url_meta":{"origin":9168,"position":1},"title":"Nigerian National Petroleum Corporation Commits to Transparency by becoming an EITI supporting company","author":"","date":"August 18, 2020","format":false,"excerpt":"Nigeria\u2019s national oil company, the Nigerian National Petroleum Corporation (NNPC), has become an\u00a0EITI supporting company, joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the\u00a0EITI\u2019s supporting company expectations. EITI Board Chair, Rt Hon. Helen Clark, welcomed the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":9206,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-nnpc-seepco-sign-oml-143-monetization-agreement\/","url_meta":{"origin":9168,"position":2},"title":"NIGERIA: NNPC, SEEPCO Sign OML 143 Monetization Agreement","author":"","date":"September 25, 2020","format":false,"excerpt":"The Nigerian National Petroleum Corporation (NNPC) and Sterling Global have signed off on agreements for monetization of its fully operated Oil Mining Lease (OML) 143. According to NNPC this latest development will help increase NNPC's footprints in the downstream gas market and a potential revenue of $500-600m to the country.\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NNPC-SEEPCO.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NNPC-SEEPCO.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NNPC-SEEPCO.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NNPC-SEEPCO.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/NNPC-SEEPCO.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":9110,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-deregulation-nnpc-to-support-deployment-of-cng-facilities\/","url_meta":{"origin":9168,"position":3},"title":"NIGERIA: Deregulation: NNPC to Support Deployment of CNG Facilities","author":"","date":"September 14, 2020","format":false,"excerpt":"The Nigerian National Petroleum Corporation (NNPC) has pledged to support ongoing initiatives by the Ministry of Petroleum Resources to provide alternate energy source to Nigerians through aggressive activation of Compressed Natural Gas (CNG) refill stations for motorists across the country. Group Managing Director of the Corporation, Mallam Mele Kyari, affirmed\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/CNG.jpg?fit=640%2C427&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/CNG.jpg?fit=640%2C427&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/CNG.jpg?fit=640%2C427&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14825,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-president-tinubu-reconstitutes-nnpc-limited-board-appoints-new-chairman-group-ceo\/","url_meta":{"origin":9168,"position":4},"title":"NIGERIA: President Tinubu Reconstitutes NNPC Limited Board, Appoints New Chairman, Group CEO","author":"","date":"April 3, 2025","format":false,"excerpt":"President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari. President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023. The\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/NNPC.jpg?fit=526%2C526&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/NNPC.jpg?fit=526%2C526&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/NNPC.jpg?fit=526%2C526&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8793,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nnpc-reaches-deal-with-sapetro-cnooc-ending-oml-130-dispute\/","url_meta":{"origin":9168,"position":5},"title":"NIGERIA: NNPC Reaches Deal with Sapetro, CNOOC Ending OML 130 Dispute","author":"","date":"August 10, 2020","format":false,"excerpt":"In its bid to meet the target of revving up production to three million barrels per day and unlock gas revenues to the tune of about $225 million in the short term and\u00a0 $510million\u00a0 in the long run for the Federation,\u00a0 the Nigerian National Petroleum Corporation (NNPC) has reached an\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"NNPC Signs Pact with CNOOC and SAPETRO to Resolve OML 130 Dispute","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-CNOOC-SAPETRO.jpg?fit=680%2C453&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-CNOOC-SAPETRO.jpg?fit=680%2C453&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/NNPC-CNOOC-SAPETRO.jpg?fit=680%2C453&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=9168"}],"version-history":[{"count":3,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9168\/revisions"}],"predecessor-version":[{"id":9171,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9168\/revisions\/9171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8894"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}