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NNPC, reported that in July 2017 total export revenue was $ 471.90 million, compared to $ 219.34 million in June.
According to the Serbian issue of the Financial Report and Business Report of the Company published on Thursday, the contribution of crude oil amounted to $ 392.20 million, while gas and miscellaneous accounts amounted to $ 64.72 million, and $ 14.98 million. .
The report showed that $ 108.09 million export was exported to the Federation's account, while $ 363.81 million was allocated to finance the Loan Loan for July 2017 in order to guarantee current and future production.
By providing a broader perspective, the report noted that total exports of crude oil and gas for the period from July 2016 to July 2017 amounted to $ 2.77 billion. Of this, $ 2.31 billion was transferred to the JV cash register according to the budget, and a $ 0.46 billion balance was paid to the Federation.
NNPC, reported that in July 2017 total export revenue was $ 471.90 million, compared to $ 219.34 million in June.
According to the Serbian issue of the Financial Report and Business Report of the Company published on Thursday, the contribution of crude oil amounted to $ 392.20 million, while gas and miscellaneous accounts amounted to $ 64.72 million, and $ 14.98 million. .
The report showed that $ 108.09 million export was exported to the Federation's account, while $ 363.81 million was allocated to finance the Loan Loan for July 2017 in order to guarantee current and future production.
By providing a broader perspective, the report noted that total exports of crude oil and gas for the period from July 2016 to July 2017 amounted to $ 2.77 billion. Of this, $ 2.31 billion was transferred to the JV cash register according to the budget, and a $ 0.46 billion balance was paid to the Federation.
The NNPC observed that the low receipt was due to the twin effects of production disruption in Niger-Delta and low crude oil prices during the period.
On naira payments to the Federation Account, the NNPC announced that the Domestic Crude Oil and Gas receipt during the month amounted to N145.83 billion, consisting of N5.56 billion from Domestic Gas and the sum of N140.27 billion from Domestic Crude Oil. It was noted that out of the naira receipt, the sum of N56.30 billion was transferred to Joint Venture Cash Call (JVCC) being a first line charge and to guarantee continuous flow of revenue stream to Federation Account.
In all, the Federation Crude Oil and Gas liftings are broadly classified into Equity Export and Domestic. Both categories are lifted and marketed by NNPC and the proceeds remitted into the Federation Account.
Equity Export receipts, after revision for Joint Venture (JV) Cash Calls, are paid directly into Federation Account domiciled in Central Bank of Nigeria (CBN). Domestic crude oil of 445,000 barrels per day is allocated for refining to meet domestic products supply. Payments are effected to Federation Account by NNPC after adjusting crude & product losses and pipeline repairs & management cost incurred during the period.
The Corporation also lifts crude oil and gas, other than equity and domestic crude oil, on behalf of the Department of Petroleum Resources (DPR) and the Federal Inland Revenue Services (FIRS), proceeds of which are remitted into Federation Account.
The Third Party finance liftings are Crude Oil and Gas liftings from fields that are financed using alternative finance/loan facility which require the servicing of debt obligations before remitting the balance into the Federation Account. ❤ ❤ 2348050417551 available for a good time ... spill TEA.... Easy on Shade #jaiyeorie
On naira payments to the Federation Account, the NNPC announced that the Domestic Crude Oil and Gas receipt during the month amounted to N145.83 billion, consisting of N5.56 billion from Domestic Gas and the sum of N140.27 billion from Domestic Crude Oil. It was noted that out of the naira receipt, the sum of N56.30 billion was transferred to Joint Venture Cash Call (JVCC) being a first line charge and to guarantee continuous flow of revenue stream to Federation Account.
In all, the Federation Crude Oil and Gas liftings are broadly classified into Equity Export and Domestic. Both categories are lifted and marketed by NNPC and the proceeds remitted into the Federation Account.
Equity Export receipts, after revision for Joint Venture (JV) Cash Calls, are paid directly into Federation Account domiciled in Central Bank of Nigeria (CBN). Domestic crude oil of 445,000 barrels per day is allocated for refining to meet domestic products supply. Payments are effected to Federation Account by NNPC after adjusting crude & product losses and pipeline repairs & management cost incurred during the period.
The Corporation also lifts crude oil and gas, other than equity and domestic crude oil, on behalf of the Department of Petroleum Resources (DPR) and the Federal Inland Revenue Services (FIRS), proceeds of which are remitted into Federation Account.
The Third Party finance liftings are Crude Oil and Gas liftings from fields that are financed using alternative finance/loan facility which require the servicing of debt obligations before remitting the balance into the Federation Account. ❤ ❤ 2348050417551 available for a good time ... spill TEA.... Easy on Shade #jaiyeorie
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