crude oil Archives - Brand Spur

The Nigerian National Oil Organization (NNPC), on Sunday, said it made a sum of $4.60billion from raw petroleum and gas sent out between June 2019 and 2020. It said in June 2020, the export receipt was $378.42 million as against the $133.16million recorded in May 2020. This was contained in the NNPC's Month to month Money related and Activities Report (MFOR) for June 2020, delivered yesterday. The Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, NNPC, said the improvement in income profit was because of the simplicity of the COVID-19 pandemic worldwide lockdown and the resulting expanded interest and firmer costs for the dark gold in the universal market. READ ALSO: Nigeria’s GDP Shrinks by 6.10% in Q2 2020 – NBS In a breakdown, the report stated that the 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. Also, it said 1.34billion litres of white products were distributed and sold by NNPC's Downstream subsidiary, the Petroleum Products Marketing Company (PPMC), in the month under review. It said this was aimed at ensuring continuous supply and effective distribution of petroleum products across the country. According to the report, the figure was significantly higher than the 950.67million litres of white products sold and distributed in May 2020. It indicated that from the figure, 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, it stated. The report noted that the total revenues recorded from the sales of white products for the period stood at over $2.267trillion, where PMS contributed about 99.12 per cent of the total sales with a value of over $2.247trillion. Similarly, it said in the month under review, 33 pipeline points were vandalized representing about 11 per cent decrease from the 37 points recorded in May 2020. It said: "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. HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR The shape of disruption in the retail space: how it works, how to respond to it, and why it matters You won’t find too many jokes about ‘digital transformation’. It’s a serious business. And if you ask who is doing it, every corporate will raise their hands – but there’s little agreement around exactly what it is, the implications for the organisation, how to go about it. RMB’s recent retail client webinar, featuring Wits’ Prof Brian Armstrong, provided strong direction. Nigeria's GDP Shrinks by 6.10% in Q2 2020 - NBS Nigeria's Gross Domestic Product (GDP) decreased by -6.10% year-on-year) in real terms in the second quarter of 2020, ending the 3-year trend of low but positive real growth rates recorded since the 2016/17 recession. Market Cap of the World`s Five Largest Automobile Manufacturers Plunged by $63bn in 2020 The COVID-19 pandemic has had a severe impact on the global automotive industry, causing supply chain disruptions and factory closures. All of this placed intense pressure on the market already coping with a downshift in global demand. Digital Ticketing Sales to Grow 150% by 2022, as Passengers Return to Travel Hampshire, UK – 24th August 2020: A new study from Juniper Research has found that digital ticketing transaction volumes will exceed pre-COVID levels by 2022; rising from 12.7 billion in 2020 to 32 billion in 2022. It anticipates that continued easing of global travel restrictions will drive increased demand for mobile ticketing in the rail, metro and bus sectors, as commuters return to work. IITA empowers Ogoni youth on agribusiness for sustainable livelihoods The Federal Government of Nigeria, through the Ministry of Environment in partnership with IITA, under the Hydrocarbon Pollution Remediation Project (HYPREP), commissioned a cassava processing factory in Korokoro Community, Tai Local Government Area of Rivers State. Aruba Research: Network as A Service Adoption to Accelerate by 38% Within the Next Two Years as Businesses Adapt to COVID-19 74% of organizations reported moderate to significant impact to their employees due to the pandemic

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