January Oil Exports Hit $434.85mn Despite Increasing Pipeline Vandalism
Despite the increasing vandalism on the pipeline network of the Nigerian National Petroleum Corporation (NNPC) across the country, Nigeria recorded crude oil and gas export sales of $434.85million in January 2020, representing 94.30 percent increase over last December record.
The corporation in its Monthly Financial and Operations Report for January released Wednesday in Abuja noted the month’s crude oil export sales contributed $336.65million (77.42 percent) of the dollar transactions for the period, compared to the $136.36million sales in the previous month.
For this period, 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 were exported.
For the month of January also, the vandalism of NNPC pipelines across the country recorded a phenomenal spike of 50 percent increase in January during which 60 pipeline points were vandalized, compared to the 40 incidents recorded in December last year.
Atlas Cove-Mosimi and Mosimi-Ibadan axis pipelines accounted for 50 percent and 17 percent of the breaks respectively, while all other routes accounted for the remaining 33 percent, according to the report which noted that NNPC, in collaboration with the local communities and other stakeholders, were working in harmony to curtail this menace.
For January also, 1.20 billion litres representing 38.68 million litres per day of Premium Motor Spirit (PMS), otherwise called petrol, were supplied across the Country in a measure by the corporation 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, out of the 253.09billion cubic feet (BCF) of gas supplied in January 2020, a total of 151.16BCF of gas was commercialized, consisting of 36.20BCF and 114.96BCF for the domestic and export market, respectively.
This translates to 1,167.80million standard cubic Feet (mmscfd) of gas supply to the domestic market, with 3,708.23mmscfd of gas supplied to the export market during the month.
It stated that 59.89 percent of the average daily gas produced was commercialized, while the balance of 40.11 per cent was re-injected, used as Upstream fuel gas or flared. Gas flare rate was 7.90 per cent for the month under review i.e. 643.59mmscfd, compared with the average gas flare rate of 8.46 per cent i.e. 671.40mmscfd, for the period January 2019 to January 2020.
Out of the 1,167.80mmscfd of gas supplied to the domestic market in January 2020, about 639.70mmscfd of gas, representing 54.78 percent, was supplied to gas-fired power plants, while the balance of 528.10mmscfd or 45.22 percent was supplied to other industries.
The report said 640mmscfd 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 596mmscfd was supplied to generate 2,498 MW.
The report explained that for January 2019 to January 2020, an average of 1,203.93mmscfd of gas was supplied to the domestic market, comprising an average of 693.73mmscfd or (57.62 per cent) as gas supply to the power plants and 510.20mmscfd or (42.38 per cent) as gas supply to industries.
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