Understanding Stock Management in Petroleum Depots
Explore the process of stock accounting in petroleum depots, including product receipts, pipelines, vessel movements, and daily truck-out reports. Gain insights into how products are managed and tracked within the Federal Government's depots.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
PDO OGHARA Staff Retreat 1 STOCK ACCOUNTING THEME: UNDERSTANDING STOCK(PRODUCT) MANAGEMENT BY ANOFIENEM AZUBUIKE (PDO OGHARA)
PDO OGHARA Staff Retreat 1 BRIEF OVERVIEW NNPC/PPMC Depots are established in various areas within the country. The various grades of petroleum products that are stocked in the Depots belong to the Federal Government. Therefore, Stock Accounting in PPMC can be defined as the process of keeping valid records of product(s) received, the volume trucked out and the balance left in the tankage.
PDO OGHARA Staff Retreat 1 PRODUCTS RECEIPTS There are two (2) ways by which products can be received into the Depot tanks Pipelines Vessel
PDO OGHARA Staff Retreat 1 PIPELINES All NNPC Depots nation-wide, with the exception of the one in Calabar are linked with a network of pipelines that are buried under the ground. It is through these pipelines that products are pumped from the Refineries to the Depots. However, these pipelines are not connected to the Private Depot Operations. The reason being that the Private Depots are not the facilities of the federal government, but most importantly by virtue of their Coastal locations, Pipeline could not have been an option.
PDO OGHARA Staff Retreat 1 VESSEL MOVEMENTS From the foregoing, it is obvious that the only means of taking petroleum products to the Private Depots is through vessel transportation. NNPC throughput products are brought by vessel which will berth at the private depots and discharge into their tankage. An account of the exact volume discharged is jointly recorded by some government agencies (such as DPR, Navy, Custom, etc) and the exact volume discharged is communicated to PPMC officials by our appointed Surveyors.
PDO OGHARA Staff Retreat 1 DAILY TRUCK-OUT REPORT On every loading daily operation, a staff records the number of trucks loaded and the total volume. The total volume trucked out for the day is communicated to the officer in- charge of Stock Account, who will in turn deduct it from the outstanding balance. This balance depreciates every day there is loading in the Depot. What is left after the deduction is called the Stock Balance.
PDO OGHARA Staff Retreat 1 CONCLUSION The number of trucks loaded and the total volume as well as the stock balances in all the active depots are compiled by the Supervisor Stock Account and forwarded to Headquarters on daily bases on behalf of the Coordinator.
