Nigeria’s Crude Oil and Gas Exports Rise 32.45% in February

• Nigeria’s Crude Oil and Gas Exports Rise 32.45% in February

The Nigerian National Petroleum Corporation (NNPC) has said the total crude oil and gas exported in February stood at $490 million (N150 billion using N306.9 official rate).

This is 32.45 percent higher than the January sale.

In the monthly financial and operations report released for February 2019, crude oil export sales accounted for 71.48 or $350.29 million of the total amount, higher than the $240.23 million recorded in January. While gas sales contributed $139.74 million in the month.

On a yearly basis, Nigeria exported crude oil and gas valued at $5.94 billion.

The report noted a 40 percent drop in pipeline vandalism in the month under review when compared with the number of incidents reported in January 2019.

In February, only 137 pipeline points were vandalised, down from 230 points recorded in January 2019.