The Nigerian National Petroleum Corporation (NNPC) has disclosed that 19 pipeline points were vandalised in the month of March representing about 47 per cent decrease from the 32 points recorded in February 2020.
The corporation disclosed this on its Monthly Financial and Operations Report (MFOR)for the month of March released in Abuja, on Wednesday.
It said that of the pipelines attacked, Atlas Cove-Mosimi accounted for 53 per cent, while Mosimi-Ibadan recorded 21 per cent and Suleja-Minna accounted for the remaining 26 per cent.
The report assured that NNPC, in collaboration with the local communities and other stakeholders, would continuously strive to reduce the menace to the barest level.
It said that 218.37billion Cubic Feet (BCF) of natural gas was produced in March, translating to an average daily production of 7493.65million Standard Cubic Feet per day (mmscfd)
It added that 3,119.89BCF of gas was produced from the period of March 2019 to March 2020, representing an average daily production of 7,912.05mmscfd during the period.
It explained that period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.37 per cent, 21.67 per cent and 8.95 per cent, respectively, to the total national gas production.
“Out of the 218.37BCF of gas supplied in March, 120.73BCF of gas was commercialised, consisting of 33.45BCF and 87.28BCF for the domestic and export market respectively.
“This translates to 1,235.56mmscfd of gas to the domestic market and 3,817.40mmscfd of gas supplied to the export market for the month,” it added.
The report further said that 55.63 per cent of the average daily gas produced was commercialised, while the balance of 44.37 per cent was re-injected, used as Upstream fuel gas or flared.
“Gas flare rate was 9.08 per cent for the month under review i.e. 679.54mmscfd, compared with average gas flare rate of 8.43 per cent i.e. 666.90mmscfd for March 2019 to March 2020,” it said.
During the month under review, the report also noted a trading deficit of ₦9.53billion for March 2020 compared to the ₦3.95billion surplus posted in February 2020.
The report revealed that the over 300 per cent decline in March 2020 earnings was due primarily to the huge decrease of 181 per cent in the National Oil Company’s Upstream Subsidiary, Nigerian Petroleum Development Company’s (NPDC).
This, it added, was due to the decline in crude oil prices precipitated by the Coronavirus-induced global slowdown.
The pandemic, it said, led to a reduction in exports and dwindling world oil consumption; combined with deficits posted by the refineries, among others.
The NNPC MFOR further indicated a total crude oil & gas export sale of 256.19million dollars in March 2020, which decreased by 30.89 per cent, compared to last month’s.
” Of the total sales, crude oil export sales contributed 184.59million dollars (72.05 per cent) of the dollar transactions compared with 281.14million dollars contribution in the previous month; while the export gas sales amounted to 71.60million dollars in the month.
“March 2019 to March 2020 crude oil and gas transactions indicated that crude oil & gas worth 4.95billion dollars were exported,” it said.
In the Downstream, it noted that 1.73billion litres of Premium Motor Spirit (PMS) also known as petrol, translating to 59.72mn litres/day were supplied for the month.
The corporation in the report noted that it had continued to diligently monitor the daily stock of PMS to achieve smooth distribution of petroleum products and zero fuel queue across the Nation.
The March 2020 MFO report of the NNPC is the 56th edition in the series that began in 2016.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
No NEC Meeting Will Hold On Thursday ― Ajimobi-Led APC Faction
Senator Abiola Ajimobi-led faction of the All Progressives Congress (APC) on Tuesday dismissed reports that a meeting of the APC National Executive Committee (NEC) will hold at the Presidential Villa on Thursday… Read Full Story
Edo Poll: INEC Worried Over Conflicting Court Orders, Litigations
The Independent National Electoral Commission (INEC) has expressed worry at the spate of litigations, conflicting court orders ahead of the Edo State governorship poll, warning that such was harmful to the smooth conduct of primaries and the September 19 poll at large… Read Full Story
Ghanaian President Apologises Over Demolition Of Nigeria’s High Commission Building
President Nana Akufo-Addo of Ghana on Tuesday spoke with President Muhammadu Buhari, expressing his sincere apology for the demolition of a building on the premises of Nigerian High Commission in Accra… Read Full Story
APC, PDP Scramble For Yoruba Land
THERE is a gradual buildup to replicating the 2003 scenario that existed in the South-West. It will be recalled that the ruling Peoples Democratic Party (PDP) from May 29, 1999, had mustered all resources towards routing the Alliance for Democracy (AD), the main opposition party from Yoruba land. Leading the PDP forces … Read Full Story
If Igbo Don’t Get Presidency In 2023… —Ezeife
I want to restate my position clearly. Nobody will just dash anybody the presidency. As it is, there is a rotation for north/south. So far, the north has dominated the presidency. But it has come to the south too. The west from the south has produced president. The South-South from the south has produced president… Read Full Story
Alleged Pension Fraud: EFCC Opposes Maina’s Plea For Bail As Ndume Stands As Surety
The Economic and Financial Crimes Commission (EFCC), on Tuesday, opposed the application by the former chairman of the Pension Reformed Task Team (PRTT), Abdulrasheed Maina, for further variation of his bail terms granted him by the Federal High Court, Abuja… Read Full Story
Why It Is Difficult To Get Justice For Rape Victims
The business of getting justice and relief for rape victims is a collaborative one that requires the concerted of medical practitioners, psychologists, law enforcement officers, legal practitioners, social welfare department, media and non-governmental bodies who must be willing to work together on cases to ensure… Read Full Story
LAWMA Highway Sweepers Down Tools Over Unpaid Three Months Salary
The Lagos State Waste Management Authority (LAWMA) highway sweepers have embarked on strike over the non-payment of their three months salaries… Read Full Story
Reviewing Oil And Gas Industry Content Development Act (Amendment) Bill
On December 18, 2019, the Nigerian Oil and Gas Industry Content Development Act (Amendment Bill 2020) was read for the second time in the Senate. Leading the debate on the Bill on May 19, during its second reading, sponsor of the bill, Teslim Folarin, explained that it seeks to amend 38 sections of the extant Act while… Read Full Story
Police Rescue 300 Workers Locked Inside Kano Rice Factory
The Nigeria Police force has rescued 300 people they say we’re locked in a rice-processing factory and forced to work throughout a coronavirus lockdown BBC reports… Read Full Story
How To Be A Successful Young Woman
EVERY young woman wants to be a success in her personal and professional lives. But the path to success can be tricky and navigating it requires that you be proactive in several aspects of your life. But with some dedication and by following some key tips, you will pave the way to personal and professional success… Read Full Story