The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018.
NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a statement, said this was part of the highlight of the corporation’s Monthly Financial and Operations Report for April, 2018.
The report, the 33rd edition since NNPC commenced the publication of its financial and operations report on a monthly basis as part of efforts to instill a culture of transparency and keep stakeholders and the general public informed of its activities, indicated a ₦5.43bn improvement representing 46.29 per cent on the trading surplus recorded in the previous month of March, 2018.
According to the report released today, in Abuja, the trading surplus was achieved through a combined higher performance by the upstream, midstream (refineries) and downstream sectors as well as a reduction in Corporate Headquarters’ operational expenditure.
“This enhanced performance is attributable to robust revenues from sales of crude oil and petroleum products by NPDC and PPMC as well as the upsurge in refineries’ performance, particularly in the Port Harcourt Refining Company (PHRC)”, the report stated.