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By TAYO ELEGBEDE
Nigerian National Petroleum Corporation (NNPC) says it remitted N219.16 billion to the Federation Account in April reflecting the Naira proceeds from the sale of domestic crude oil and gas.
This was in addition to the export receipt of $193.05 million for the same period according to the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, adding was recorded in April 2020.
The Corporation disclosing this in its April’s Financial and Operations Report (MFOR) also noted that it has increased its average daily natural gas supply to power plants to 788millon standard cubic feet (mmscfd), translates to a boost of 19.4 percent and equivalent to 2,873MW of power generation.in its efforts to deepen domestic consumption of natural gas the NNPC
The national oil company disclosed that a total of 226.51billion Cubic Feet (BCF) of natural gas was produced in April 2020, translating to an average daily production of 7,786.17million Standard Cubic Feet per Day (mmscfd).
The figure indicated an increase of 3.73 percent at 226.51BCF, compared to the output in March 2020, adding that out of this figure, a total of 136.44BCF of gas was commercialised, consisting of 36.99BCF and 99.45BCF for the domestic and export market, respectively.
Out of the 1,233.01mmscfd of gas supplied to the domestic market in April 2020, about 787.70mmscfd, representing 63.88 percent was supplied to gas-fired power plants, while the balance of 445.31mmscfd or 36.12 percent was supplied to other industries.
The report further noted that for the period of April 2019 to April 2020, an average of 1,184.29mmscfd of gas was supplied to the domestic market, comprising an average of 677.87mmscfd or (57.24 percent) as gas supply to the power plants and 506.42 mmscfd or (42.76 percent) as gas supply to industries.
“For the period of April 2019 to April 2020, a total of 3,082.91BCF of gas was produced, representing an average daily production of 7,857.18mmscfd during the period. Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs), and NPDC contributed about 69.57 percent, 21.46 percent, and 8.97 percent respectively to the total national gas production,” it added.
The MFOR also indicated that in the Downstream Sector, a total of 0.94billion litres of PMS, translating to 31.37mn liters/day, was supplied for the month, adding that the corporation has continued to diligently monitor the daily stock of petrol to achieve smooth distribution of petroleum products and zero fuel queue across the Nation.
Speaking of vandalism, the period under review saw 65 vandalised pipeline points, which is an increase by 19 points recorded as compared to March 2020,
The Atlas Cove-Mosimi stretch accounted for 55 percent, while Mosimi-Ore recorded 22 percent and other locations make up for the remaining 23 percent.
The release stated that it remained committed to sustaining effective communication with stakeholders through publication of its Monthly Financial and Operations reports on its website and in national dailies in line with the concept of Transparency, Accountability, and Performance Excellence (TAPE) agenda of NNPC Management.
ELEGBEDE TAYO OREDOLA , a journalist with five years professional experience is self motivated and a team player. Her experience came from diverse media, like The Guardian Newspaper, Radio Nigeria among others and now with the INSIDEBUSINESS in the bid to explore the new media.
Email: [email protected]
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