More
    HomeBusinessNNPC Ltd records N5.8bn revenue, N748bn PAT in April

    NNPC Ltd records N5.8bn revenue, N748bn PAT in April

    Published on

     

    THE Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a revenue of N5.89 billion and a Profit After Tax (PAT) of N748 billion for the month of April.

    The NNPC Ltd. disclosed this in its Monthly Report Summary for April, released on Thursday.

    The report highlights key statistics, including crude oil and condensate production, natural gas output, revenue, profit after tax and strategic initiatives during the period.

    The report said that NNPC Ltd made statutory payments of N4.22 billion between January and March.

    According to the report, crude oil and gas figures are provisional and reflect only NNPC Limited’s data.

    It said that It excluded volumes of independent operators reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

    “Crude oil and condensate production averaged 1.606 million barrels per day (bpd) in April, while natural gas production was 7.354 million standard cubic feet daily.

    “Petrol availability at the NNPC Ltd. retail stations recorded 54 per cent during the month under review, while upstream pipeline reliability was 97 per cent,” it said.

    On its strategic efforts, it said that the company was collaborating with Venture Partners to accelerate Sustainable Production Enhancement.

    It said that it completed the implementation of relevant presidential directives and Executive Orders for its upstream operations.

    The report listed some Technical Interventions on Ajaokuta-Kaduna-Kano (AKK) pipeline and the Obiafu-Obrikom-Oben (OB3) gas pipelin to resolve challenges of River Niger crossings.

    It said that the OB3 gas pipeline project was 95 per cent completed in the month, while the AKK pipeline was 70 per cent completed.

    The report said that Turnaround Maintenance (TAM) was completed in several Oil Mining Leases (OML), including OML 18, OML 58, OML 118, and OML 133.

    On Refineries Status, it said that the Port Harcourt Refinery Company (PHRC), as well as the Warri and Kaduna refineries were currently under review.

    According to the report, all financial figures are provisional and unaudited, and all operational and financial data are for April unless indicated otherwise. (NAN)

    Latest articles

    Stakeholders Push for Inclusive Reforms at Lagos Constitution Hearing

      By Olufemi Oni, Ilorin Stakeholders from across the Southwest have converged on the Water Crest...

    TCN Launches Line Reconductoring in Kano, as Contractors Target Delivery In 12 Months

      The Transmission Company of Nigeria (TCN) has launched a line reconductoring project in Kano...

    PANA Holdings advocates data democracy, structured data to solve Nigeria’s challenges

        PANA Holdings has canvassed for the deployment of data technology to tackle the country's...

    Bayelsa Health Insurance Scheme says inflation is a major challenge

      The Bayelsa State Health Insurance Scheme (BHIS) at the weekend said the high inflation...

    More like this

    Stakeholders Push for Inclusive Reforms at Lagos Constitution Hearing

      By Olufemi Oni, Ilorin Stakeholders from across the Southwest have converged on the Water Crest...

    TCN Launches Line Reconductoring in Kano, as Contractors Target Delivery In 12 Months

      The Transmission Company of Nigeria (TCN) has launched a line reconductoring project in Kano...

    PANA Holdings advocates data democracy, structured data to solve Nigeria’s challenges

        PANA Holdings has canvassed for the deployment of data technology to tackle the country's...