Despite the incessant reports of obstructions resulting from the activities of militants, and so on, the Nigerian National Petroleum Corporation has revealed that in the month of December 2018, its trading surplus hit N12.13 billion.
According to the monthly financial and operations report released by the corporation on Sunday in Abuja, the corporation’s upstream subsidiary, Nigerian Petroleum Development Company (NPDC) recorded a positive upswing of average production of 332,000 barrels of oil per day with the corporation targeting 500,000bpd production in 2020.
The report indicates that 257 pipeline points were vandalised within the month under review, out of the vandalized pipelines, one pipeline point failed to be welded while six pipeline points were ruptured.
The report also states that 197 pipeline breaches were recorded in November the Ibadan-Ilorin pipeline accounted for 34%, and the Mosimi-Ibadan pipeline accounted for 26% while the Atlas Cove-Mosimi network accounted for 22% compromised points of the vandalised pipelines, the Aba-Enugu pipeline link accounted for 7%, while other locations accounted for the remaining 11% of the pipeline breaks.
According to the report, 1.8 billion litres of Premium Motor Spirit (PMS), popularly known as petroleum were supplied in the month under review, this quantity amounted to 58.17 million litres/day. The distribution of the white products to its downstream subsidiaries rose from 1.09 billion litres in November to 1.96 billion litres in December, 1.94billion litres of the products were Petroleum, 0.014 billion litres of diesel and 0.007 billion litres of kerosene
Total sale of white products for the period, December 2017 to December 2018, was 21.84 billion litres and PMS accounted for 20.17 billion litres or 92.36 per cent.