Nigeria recorded crude oil and gas export sale of $434.85 million in January, 2020, an increase of 94.30 per cent pitched against the December 2019 figures. This is according to the Nigerian National Petroleum Corporation, NNPC Monthly Financial and Operations Report, released Wednesday in Abuja, the nation’s capital.
In the statement by the Corporations Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, the month’s crude oil export sales contributed $336.65million, that is 77.42% of the dollar transactions for the period, compared to the $136.36million sales in the previous month.
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It added that export gas sales in January amounted to $98.20million, even as it noted that 2019 to January 2020 crude oil and gas transactions valued at $5.18billion was exported.
The January 2020 edition of the monthly report of the Corporation is the 54th edition of the series.
The statement said vandalism of NNPC pipelines across the country recorded a phenomenal spike of 50% increase in January. It sayd during the period,
60 pipeline points were vandalised, compared to the 40 incidents recorded in December last year.
Atlas Cove-Mosimi and Mosimi-Ibadan axis pipelines accounted for 50% and 17% of the breaks respectively, while all other routes accounted for the remaining 33 per cent, according to the report.
It however explained that NNPC, in collaboration with the local communities and other stakeholders ate working in harmony to curtail the menace of vandalism.
The report stated that to ensure steady supply and effective distribution of Premium Motor Spirit, PMS, popularly known as petrol across the Country, 1.20 billion litres of the white product, translating to 38.68mn liters per day, were supplied for the month, stressing that the Corporation has continued to diligently monitor the daily stock of fuel to achieve smooth distribution of petroleum products and zero fuel queue across the country.
In the Gas Sector, out of the 253.09 billion cubic feet, BCF of gas supplied in January 2020, a total of 151.16 BCF of gas was commercialised, consisting of 36.20 BCF and 114.96 BCF for the domestic and export market, respectively.
This translates to 1,167.80 million standard cubic Feet (mmscfd) of gas supply to the domestic market, with 3,708.23 mmscfd of gas supplied to the export market during the month.
It stated that 59.89% of the average daily gas produced was commercialised, while the balance of 40.11% was re-injected, used as Upstream fuel gas or flared. Gas flare rate was 7.90% for the month under review, that is 643.59 mmscfd , compared with average gas-flare rate of 8.46% which was 671.40 mmscfd, for the period January 2019 to January 2020.
Out of the 1,167.80 mmscfd of gas supplied to the domestic market in January 2020, about 639.70 mmscfd of gas, representing 54.78% was supplied to gas-fired power plants, while the balance of 528.10mmscfd or 45.22% was supplied to other industries.
The report said 640 mmscfd of gas delivered to gas fired-power plants in January 2020 generated an average power of about 2,683 MW, compared with December 2019 where an average of 596 mmscfd was supplied to generate 2,498 MW.
The report explained that for January 2019 to January 2020, an average of 1,203.93 mmscfd of gas was supplied to the domestic market, comprising an average of 693.73 mmscfd or 57.62% as gas supply to the power plants and 510.20mmscfd or 42.38% as gas supply to industries.
(Editor: Terverr Tyav)
