The Nigerian National Petroleum Corporation (NNPC) has said that its crude oil and gas export sale in August 2018 was $470million, indicating an upsurge of about $78million when compared to July export figures of $391.91million.
The report indicated that crude oil export sales contributed $337.62 million which represents 71.83 percent of the dollar transactions compared with $283.43million contribution in the previous month.
The release said export gas sales during the period amounted to $132.38million, adding that the August 2017 to August 2018 crude oil and gas export was worth $5.26billion.
Contribution from crude oil during the period, it stated, amounted to $336.43 million, while gas and miscellaneous receipt stood at $101.33million and $12.48million respectively.
A further breakdown of the figures showed that out of the export receipts, $142.31million was remitted to the Federation Account, while $307.93 million was remitted to fund the JV cost recovery for the month of August, 2018 to guarantee current and future production.
Total export crude oil & gas receipt for the period August 2017 to August 2018 stood at $5.23billion out of which $3.74 billion was transferred to JV Cash Call as first line charge and the balance of $1.49 billion paid into the Federation Account.
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