NNPC Ltd. Records N5.8trn Revenue, N748bn PAT in April
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a revenue of N5.89 trillion 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 percent during the month under review, while upstream pipeline reliability was 97 percent,” 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 pipeline to resolve challenges of River Niger crossings.
It said that the OB3 gas pipeline project was 95 percent completed in the month, while the AKK pipeline was 70 percent 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. #NNPC Ltd. Records N5.8bn Revenue, N748bn PAT in April#
