A statement on its monthly Financial and Operations Report for December 2018, signed by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu on Sunday in Abuja stated that the activities of the vandals pushed pipeline breaches across the country by 34 percentage point.
He explained that the Ibadan-Ilorin, Mosimi-Ibadan, and Atlas Cove-Mosimi network accounted for 90, 69 and 57 compromised points respectively or approximately 34 percent, 26 percent and 22 percent of the vandalized points respectively.
Ughamadu added that the Aba-Enugu pipeline link accounted for seven percent with other locations accounting for the remaining 11 percent of the pipeline breaks.
According to him, despite, the activities of the pipeline marauders, the NNPC continued to diligently monitor the daily stock of petrol to achieve smooth distribution of petroleum products and zero fuel queue across the nation.
He noted that in spite of these challenges, the Corporation was able to declare a trading surplus of N12.13 billion in its financials for December 2018.
Ughamadu attributed the positive swing to higher revenue numbers posted by the NNPC’s upstream subsidiary, the Nigerian Petroleum Development Company (NPDC), which was targeting a 500,000 barrels per day (BPD) of crude oil output by 2020.
He cited NPDC’s continuous revenue drive arising from recent average weekly production of 332,000 BPD as the main driver of the positive outlook.
Ughamadu further stated that 1.80 billion litres of petrol which translates to 58.17 million liters per day were supplied for the month.