NNPC Monthly Oil & Gas Report: August 2015

Crude Oil & Condensate Lifting and utilization

NIGERIAN GOVERNMENT
NNPC
LIFTING
MONTH FIRS (PSC) DPR (PSC)
Barrels

Barrels

Barrels

6,599,431
410,000
4,995,452
260,000
2,295,064 1,296,138
4,754,914
51,400
4,862,603 1,447,689
3,268,292
550,300
7,809,563
0
34,585,319 4,015,527

TOTAL

DOMESTIC
Barrels

6,647,330
6,539,228
6,071,583
5,119,906
3,940,965
5,022,429
1,918,716
35,260,157

Barrels

13,564,197 20,211,527
14,608,257 21,147,485
14,062,453 20,134,036
11,173,963 16,293,869
12,287,020 16,227,985
11,193,080 16,215,509
15,493,685 17,412,401
92,382,655 127,642,812

GRAND
TOTAL

Barrels

Barrels

Barrels

Barrels

27,220,958
26,402,937
23,725,238
21,100,183
22,538,277
20,034,101
25,221,964
166,243,658

38,250,075
36,991,819
35,552,081
40,410,853
36,123,485
37,004,226
37,243,405
261,575,944

1,291,873
1,054,215
1,210,000
2,297,199
2,388,624
1,775,030
1,263,140
11,280,081

66,762,906
64,448,971
60,487,319
63,808,235
61,050,386
58,813,357
63,728,509
439,099,683

NIGERIAN GOVERNMENT
NNPC
LIFTING
MONTH

SUB-TOTAL
FIRS (PSC)
DPR (PSC)
EXPORT
DOMESTIC
(NNPC)
USD
USD
USD
USD
USD
310,266,556
19,539,530
323,425,507
643,398,273
966,823,780
292,117,092
15,672,480
361,897,548
824,796,241 1,186,693,789
126,351,941
69,709,608
340,227,160
761,340,884 1,101,568,044
285,992,512
2,942,441
306,598,470
659,356,404
965,954,873
306,629,363
88,010,118
259,160,157
777,315,998 1,036,476,155
201,845,553
33,793,993
307,749,640
676,152,346
983,901,986
443,053,618
0
108,916,802
805,220,071
914,136,873
1,966,256,635 229,668,170 2,007,975,285 5,147,580,217 7,155,555,501

Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
TOTAL

66.76
50

64.45

63.81

60.49

61.05

58.81

63.73

38.3

37.0

35.6

40.4

36.1

37.0

6.6

5.0

2.3

20.21

21.15

20.13

4.8

4.9

16.29

16.23

3.3

16.22

17.41

Jan-15

Feb-15

Mar-15

Apr-15

May-15

Jun-15

Jul-15

FIRS (PSC)

DPR (PSC)

37.2

30
20
10

7.8

IOCs & INDEPENDENTS (INC. NPDC)

IOCs &
SUB-TOTAL INDEPENDENT
AF
GOVERNMENT S (INC. NPDC) (MCA/RDP)
USD
USD
USD
1,296,629,866 1,861,055,489 61,313,050
1,494,483,361 2,047,221,568 62,951,971
1,297,629,593 1,992,196,044 67,563,676
1,254,889,826 2,419,947,884 144,145,396
1,431,115,636 2,375,501,442 157,165,605
1,219,541,532 2,267,436,179 109,159,403
1,357,190,491 2,114,139,131 73,988,173
9,351,480,306 15,077,497,737 676,287,274

GRAND TOTAL
USD
3,218,998,405
3,604,656,901
3,357,389,313
3,818,983,106
3,963,782,684
3,596,137,115
3,545,317,795
25,105,265,317

Government Crude Oil Lifting & Utilisation: NNPC Account

20.2

21.1

6.6

6.5

13.6

14.6

Jan-15

Feb-15

20.1

6.1
14.1

16.3

16.2

16.2

5.1

3.9

5.0

11.2

12.3

11.2

17.4

1.9
15.5

AF (MCA/RDP)

Mar-15 Apr-15 May-15

DOMESTIC EXPORT

Jun-15

Jul-15

Operational Parameter
Crude Processed (M/tons)

Jul

WRPC
Aug

122,118

PHRC

140,778

Jul

Aug

Jul

KRPC
Aug

YTD
2015

122,141

263,537

12,058

48,837

919,889

6,997

10,726

6,119

10,069

3,232

19,341

79,658

Product Yields(M/tons)

115,121

130,052

116,022

253,468

8,826

29,496

840,231

Capacity Utilization

23.11%

26.64%

13.76%

29.68%

2.59%

10.50%

10.04%

Planned Yield (M/tons)

528,505

528,505

887,889

887,889

887,889

887,889

14,247,818

% Loss/Consumption

5.73%

7.62%

5.01%

3.82%

26.80%

39.60%

8.66%

Yields Efficiency (%)

94.27%

92.38%

94.99%

96.18%

73.20%

60.40%

91.34%

40

9.8

20

16.5

8.7

6.4

3.3

25.6

17.9

19.4

18.3

19.8

1.4

1.3

19.4

18.4

29.7%

26.6%

20%

13.8%

10.5%
2.6%

0%
WRPC

60

KRPC

Sales Revenue From PPMC Product Distribution Sales Volume

100
80

PHRC
July August
70.5

56.3

44.8

40

12

20

41.0

38.7

Jan-15

Feb-15

55.0

56.6

48.8

11

46.3

45.2

43.9

45.2

44.2

Apr-15

May-15

Jun-15

Jul-15

5
61.7

Jan-15

Feb-15

Mar-15
PMS

Apr-15
DPK

May-15

750

Jul-15

Mar-15
PMS

DPK

AGO

Gas Supply to Power plants & Generation

1,250
1,000

Jun-15

AGO

5,000 MW

3,002 MW

2,781 MW

2,885 MW

672

646

672

605

533

Jan-15

Feb-15

Mar-15

Apr-15

May-15

2,846 MW

2,675 MW

3,489 MW

2,219 MW

3,000 MW

500
250

4,000 MW

679

786

Jun-15

Jul-15

2,000 MW
1,000 MW

0 MW

Gas Supply To Gas-Fired Power Plants (mmscfd)

Generation

Power Generated from Gas-Fired Power Plants (MW)

Gas 2 Power

Gas

Downstream

10

Average Daily PPMC Product Distribution Sales Volume

30.7
27.5
26.4
21.9
21.2
4.0

23.1%

Power Generation

30

27.0

Refineries Capacity Utilization

40%

Billions Naira

Crude Loss/Consumed (M/tons)

Millions Liters Per Day

Midstream

Refineries Capacity Utilization

REFINERIES Products

SUB-TOTAL (NNPC)

Million Barrels

Monthly Lifting Entitlement (Million Barrels)

100

Gas Supply (mmscfd)

Up-stream

Crude Oil Lifting Values

Crude Oil Production & Lifting

Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15

EXPORT

IOCs &
SUB-TOTAL INDEPENDE
SUB-TOTAL GOVERNMEN NTS (INC.
AF
(NNPC)
T
NPDC)
(MCA/RDP)

NNPC Monthly Oil & Gas Report: August 2015

YEAR TO DATE (=N= MILLION)
2015 BUDGET
2015 ACTUAL
Expense Profit/
Profit/
Revenue Expense (Loss) Revenue
(Loss)
439,748

138,466

301,282

174,129

123,134

50,995

15,764

10,228

5,536

8,923

5,988

2,934

4,831

3,683

1,148

5,880

5,336

544

68,594

41,266

27,328

89,134

69,896

19,239

528,937

193,643

335,294

278,066

204,354

73,712

177,132

179,821

(2,689)

56

21,246

(21,190)

282,758

290,371

(7,613)

371

15,474

(15,103)

331,750

301,385

30,365

108

12,732

(12,624)

791,640

771,577

20,063

535

(48,917)

23,025

14,297

8,728

12,023

49,453
8,344

1,093,899 1,003,116

90,784

879,283

1,158,121 (278,837)

1,116,924 1,017,413

99,512

891,306

1,166,465 (275,159)

1,312

116,019 (114,707)

166

13,586
(13,420)
129,606 (128,127)

9,499

132,202 (122,703)

1,143

22,014

10,642

(20,871)

154,216 (143,574)

1,479

3,679

2,448,144 2,136,849 311,295 1,171,386 1,549,877 (378,491)

Billion Naira

NNPC Group Surplus/Deficit YTD 2015

200
100

51.0

19.2

3.7

2.9

0.5

12.6

13.4

15.1

21.2

100

Financial Performance

Group

ACTUAL (=N= MILLION)

MONTHLY BUDGET
(=N= MILLION)
JULY
AUGUST
SBU/CSU
Profit/
Profit/
Profit/
Revenue Expense (Loss) Revenue Expense (Loss) Revenue Expense (Loss)
NPDC
54,969
17,308
37,660 34,431 19,311 15,120 20,192 37,004 (16,812)
IDSL
1,970
1,279
692
1,562
792
771
302
691
(389)
NETCO
604
460
143
386
(921)
1,307
582
546
36
NGC
8,574
5,158
3,416
11,586
8,715
2,870
13,621
9,258
4,362
Sub-Total 66,117 24,205 41,912 47,965 27,111 20,068 34,697 47,500 (12,803)
KRPC
22,142
22,478
(336)
6
2,696
(2,690)
2
2,388
(2,386)
PHRC
35,345
36,296
(952)
34
2,048
(2,014)
15
2,024
(2,009)
WRPC
41,469
37,673
3,796
5
1,675
(1,670)
24
2,204
(2,180)
Sub-Total 98,955 96,447 2,508
46
6,420 (6,374)
41
6,616
(6,575)
RETAIL
2,878
1,787
1,091
1,451
970
481
1,730
1,150
580
PPMC
136,737 125,389 11,348 99,486 147,434 (47,947) 109,910 144,765 (34,855)
before
Subsidy
Sub-Total 139,616 127,177 12,439 100,937 148,404 (47,467) 111,640 145,915 (34,275)
CHQ
1,187
16,525 (15,338)
243
16,584 (16,341)
233
6,234
(6,001)
CSU
143
2,752
(2,609)
7
1,607
(1,600)
6
1,023
(1,017)
Sub-Total 1,330
19,277 (17,947)
250
18,191 (17,940)
239
7,256
(7,017)
Grand
Total
306,018 267,106 38,912 149,198 200,126 (51,714) 146,617 207,287 (60,669)

114

200
300
400

278.8

500
NPDC

NGC

RETAIL

IDSL

NETCO

WRPC

200
150

PHRC

KRPC

CHQ

PPMC before
Subsidy

Total

NNPC Group Revenue 2015 (Billion Naira)

153.5 157.3 163.2
148.8 149.2 146.6
141.3
111.4

100
50
0

Jan-15
NPDC

IDSL

Feb-15
NETCO

Mar-15
NGC

Apr-15

RETAIL

May-15

Refineries

Jun-15

Jul-15

PPMC before Subsidy

Revenue

Challenges

Key Challenges Facing NNPC:

Asset Integrity: Incessant pipelines breakages
nationwide has led to massive leakages and
huge accounting losses to NNPC
Crude Oil and Product losses resulting from theft
and vandalism
Sub-commercial contracts primarily legacy
problems
Low capacity utilisation of refineries

CSU

378.5

Aug-15

CHQ/CSU

20 FIXES

20 Fixes

Way Forward
Download full report on www.nnpcgroup.com

Solutions

Restructuring