Nigeria record export of crude oil receipt of $640.35 in Q3’18

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THE Nigerian National Petroleum Corporation, NNPC, yesterday, said the country earned $640.35 million from crude oil and gas export in the month of October, 2018.

The corporation disclosed this in its monthly Financial and Operation report for October 2018, released in Abuja yesterday.

The total export receipt of $640.35 million recorded in October 2018 was higher than the $527.70 million logged in September 2018. NNPC report added that the receipt showed $450.44 million accrued from crude oil sale with gas and miscellaneous receipts standing at $173.92 million and $15.99 million, respectively.

Oil In the downstream sector, the report revealed that the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of NNPC, posted a receipt of ?231.33 billion from sales of white products in the month of October 2018 compared with ?150.25 billion sold in September 2018.

“Total revenues generated from the sales of white products for the period October 2017 to October 2018 stand at ?2.684 trillion, where PMS contributed about 88.32 per cent of the total sales value of ?2.371 trillion.

“To ensure continuous increase of PMS supply and effective distribution across the country, a total of 1.66 billion litres of petrol, translating to 55.50 million liters/day, were supplied for the month under review’’ it said.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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