Connect with us

Other News

NNPC records $378.42million crude oil proceeds in June, posts $4.60billion export sale in one year

Published

on

Modupe ASUDO

ABUJA-THE Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export receipt of $378.42million in June 2020 as against $133.16million it posted in May 2020, signally a marked improvement in revenue earnings apparently following the ease of the COVID-19 pandemic global lockdown and the subsequent increased demand and firmer prices for the black gold in the international market.
The NNPC in a release by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that petroleum receipts for the month reflected crude oil earnings of $230.65million, with gas and miscellaneous proceeds standing at $75.97million and $71.80million, respectively. The release explained that details of the earnings were contained in the June 2020 Monthly Financial and Operations Report (MFOR) of NNPC, which it noted, is the 59th edition in the series.The report, which was released in Abuja today, put total crude oil & gas export receipts for the period: June 2019 to June 2020 at $4.60billion. In the Downstream Sector, the NNPC monthly report said in order to ensure continuous supply and effective distribution of petroleum products across the country in June, 2020, 1.34billion litres of white products were distributed and sold by NNPC’s Downstream subsidiary, the Petroleum Products Marketing Company (PPMC), saying the figure was significantly higher than the 950.67million litres of white products sold and distributed in May 2020, again an apparent reflection of  the gradual ease of the lockdown in the Country and the picking up of business activities. A breakdown of the June 2020 figures indicated that over 1.3billion litres of Premium Motor Spirit (PMS), 5.10million litres of Automotive Gas Oil (AGO) and 1.65million litres of Dual Purpose Kerosene (DPK) were sold and distributed during the period. White products sale for the period June 2019 to June 2020, the report disclosed, stood at over 19.104billion litres, with PMS accounting for over 18.9billion litres or 99.36 per cent In monetary value terms, the above volumes translated to a total sale of ₦134.22billion of white products by PPMC in June 2020, compared to ₦92.58billion sales in May, 2020. Total revenues recorded from the sales of white products for the period June 2019 to June 2020 stood at over ₦2.267trillion, where PMS contributed about 99.12 per cent of the total sales with a value of over ₦2.247trillion. During the month under review, 33 pipeline points were vandalized representing about 11 per cent decrease from the 37 points recorded in May 2020. Mosimi-Ibadan accounted for 33 per cent, while Atlas Cove-Mosimi and Warri-River Niger recorded 27 per cent of the breaks each; other locations made up for the remaining 13 per cent. The NNPC monthly Financial and Operations Report for June, 2020 explained that in collaboration with the local communities and other stakeholders, the corporation would continuously strive to rein in on the incidences of pipeline breaches across the Country. In the Gas sector, out of the 232.03billion Cubic Feet of gas (BCF) supplied in June 2020, 148.66BCF of gas was commercialized; consisting of 34.64BCF and 114.01BCF for the domestic and export market, respectively. This, the report explains, translates to a total supply of 1,154.78million Standard Cubic Feet of gas per day (mmscfd) to the domestic market and 3,800.45mmscfd of gas supplied to the export market for the month, implying 64.07 per cent of the average daily gas produced was commercialized, while the balance of 35.93 per cent was re-injected, used as Upstream fuel gas or flared. The NNPC report stated that gas flare rate for June 2020 stood at 6.11 per cent, that is: 472.94mmscfd, compared with average Gas flare rate of 7.84 per cent, equivalent of 611.73mmscfd for the period June 2019 to June 2020.

Other News

Music Icon Quincy Jones Passes Away At 91

Published

on

Quincy Jones, the legendary music producer, composer, and cultural icon whose career spanned over seven decades, has passed away at the age of 91.

Jones died peacefully on Sunday night at his Bel Air home, surrounded by family, according to his publicist, Arnold Robinson.

“Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing,” his family said in a statement. “And although this is an incredible loss for our family, we celebrate the great life that he lived and know there will never be another like him.”

Renowned for his unmatched versatility, Jones collaborated with some of the greatest musical talents of the 20th and 21st centuries, including Michael Jackson, Frank Sinatra, Aretha Franklin, and Will Smith. He played an integral role in producing Jackson’s groundbreaking albums Off the Wall, Thriller, and Bad, which catapulted the pop star to global superstardom and earned Jones worldwide acclaim.

READ MORE: JUST IN: Tinubu Swears In Seven Newly-Appointed Ministers

Born in Chicago in 1933, Jones’ journey into music began early. His childhood introduction came from a neighbor’s piano playing and his mother’s singing. After moving to Washington state following his parents’ divorce, he honed his skills in his high school band and began playing with a young Ray Charles in Seattle’s vibrant club scene.

Jones’ career took off in New York, where he played trumpet in Elvis Presley’s early TV performances and worked with bebop legends like Charlie Parker and Miles Davis. By 1958, he was working with Frank Sinatra, arranging for the singer’s band at the request of Princess Grace Kelly. Their partnership flourished, spanning several projects including Sinatra’s final album LA Is My Lady in 1984.

Throughout the 1960s and 70s, Jones’ talents extended into film and television scores, composing music for films such as The Italian Job, In the Heat of the Night, and the acclaimed The Color Purple, for which he earned three Oscar nominations. He also scored hit TV shows including The Bill Cosby Show and Roots.

In 1985, Jones produced and co-conducted the charity anthem “We Are the World” alongside Michael Jackson and Lionel Richie, raising millions for Ethiopian famine relief. Despite personal and professional challenges—including surviving a near-fatal brain aneurysm in 1974—Jones’s career continued to thrive.

Jones’ influence wasn’t limited to music. In 1990, he founded Quincy Jones Entertainment, the company behind the popular sitcom The Fresh Prince of Bel-Air, which launched the career of Will Smith. His media ventures also included the creation of Qwest TV, an on-demand music streaming service, and the magazine Vibe, which celebrated Black music and culture.

Over his career, Jones earned 80 Grammy nominations, winning 28—making him one of the most decorated artists in the award’s history. Tributes poured in following news of his death. Actor Michael Caine, who shared Jones’ birthdate, called him “a wonderful and unique human being.” Music artists such as LL Cool J expressed gratitude, saying, “You were a father and example at a time when I truly needed one. Music would not be music without you.”

Jones is survived by his seven children, leaving behind an indelible legacy that will resonate through generations to come. His life’s work transformed music, television, and culture, proving that there truly was no limit to what Quincy Jones could accomplish.

Continue Reading

Other News

Prayers Won’t Build Roads, Fund Children’s Education – Jesse Jagz To Nigerians

Published

on

Singer and rapper Jesse Jagz has called on Nigerians to rethink their approach to religion.

Jagz suggested that African traditional religious gods have become ineffective, attributing this to the excessive alcohol given to them during rituals, which, according to him, has made them obese, diabetic, and unable to aid their worshipers.

Speaking on the ‘Big Talk’ podcast, the rapper also criticized followers of foreign religions for relying solely on prayer and expecting miracles without putting in the necessary effort. He stressed that prayers alone cannot provide essential social services or infrastructure.

READ MORE: SERAP Issues Tinubu 48-Hour Ultimatum Over Detained Minors

“When you go to a shrine and you see the priest pouring gin on the gods, Google how much a bottle of gin was in slavery. 40 slaves.

“Our gods are drunk on alcohol and meat. They are obese and diabetic.

“They can’t help us do anything. Prayers do not build roads or buy books for children. We have forgotten humanity,” he said.

Continue Reading

Other News

Presidents Invite Me To Dinner Wherever I Go – Davido Boasts

Published

on

Renowned Nigerian singer, David Adeleke, known by his stage name Davido, has stated that he receives special treatment globally due to his celebrity status.

The Afrobeats sensation mentioned that he is frequently invited to presidential dinners in nearly every country he visits, with the exception of the United States and the United Kingdom.

In a recent interview with Kiss Fresh London, Davido confidently shared that his fanbase includes influential figures such as the World Bank president, presidents of powerful nations, and other notable personalities.

READ MORE: Sanwo-Olu, Dignitaries Set To Attend Lagos Social Media Hangout

“Every country we go to, the President invites us for dinner except London [United Kingdom] and the United States of America.

“It’s beautiful to see. I mean, leaving my country, Nigeria, and people welcoming me like the president in other countries, shows how well Nigeria is doing around the world in terms of music and cultural impacts,” he said.

Davido has expressed that he feels most respected in Africa, which is why he cherishes his African tours more than those in Europe and America, even though the latter bring him greater financial rewards.

He shared that his Jamaican collaborator, YG Marley, was astonished by the immense admiration from fans when he visited Nigeria for the video shoot of their joint hit, ‘Awuke.’

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.