Adedapo Adesanya
By Adedapo Adesanya
The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria’s crude oil and gas export increased by 94.3 percent month-on-month in January 2020.
The national oil company, in its first Monthly Financial and Operations Report (MFOR) for the year released in Abuja, on Wednesday, stated further that the total revenue from oil and gas within the period amounted to $434.85 million
It also said that during the month under review, crude oil export sales contributed $336.65 million (77.42 percent) of the dollar transactions for the period, compared with the $136.36 million in the previous month, December 2019.
It added that export gas sales in January amounted to $98.20 million even as it noted that 2019 to January 2020 crude oil and gas transactions valued at $5.18 billion was exported.
The report added that vandalism of NNPC pipelines across the country recorded a phenomenal spike of 50 percentage increase in January.
“60 pipeline points were vandalized, compared to the 40 incidents recorded in December 2019.
“Atlas Cove-Mosimi and Mosimi-Ibadan axis pipelines accounted for 50 per cent and 17 per cent of the breaks respectively, while all other routes accounted for the remaining 33 per cent, according to the report,” it said.
It, however, explained that NNPC, in collaboration with the local communities and other stakeholders, were working in harmony to curtail this menace.
The report stated that to ensure steady supply and effective distribution of Premium Motor Spirit (PMS), otherwise called petrol, across the country, 1.20 billion litres of the white product, translating to 38.68mn liters/day, were supplied for the month.
It noted that the corporation had continued to diligently monitor the daily stock of fuel to achieve smooth distribution of petroleum products and zero fuel queue across the nation.
In the gas sector, it revealed that out of the 253.09 billion cubic feet (BCF) of gas supplied in January, 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, it said translated 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 report further stated that 59.89 percent of the average daily gas produced was commercialised, while the balance of 40.11 per cent was re-injected, used as Upstream fuel gas or flared. Gas flare rate was 7.90 percent for the month under review.
According to the report, it is 643.59 mmscfd, compared with average gas-flare rate of 8.46 percent i.e. 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 percent, was supplied to gas-fired power plants.
“The balance of 528.10 mmscfd or 45.22 percent was supplied to other industries,” it said
The report said 640 mmscfd of gas delivered to gas fired-power plants in January generated an average power of about 2,683 MW, compared with December 2019 where an average of 596mmscfd was supplied to generate 2,498 MW.
It 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 percent) as gas supply to the power plants and 510.20 mmscfd or (42.38 percent) as gas supply to industries.
