Nigeria’s January Crude Oil Export Sales Jump Despite Spike In Pipeline Vandalism
Latest report from the Nigerian National Petroleum Corporation (NNPC) shows that Nigeria recorded an increase in the export sale of crude oil and gas at $434.85 million in January 2020.
This is a phenomenal 94.30% increase when compared to the December 2019 figures, monthly Financial and Operations Report said on Wednesday.
A statement by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, while giving a breakdown from the report, said crude oil export sales for January contributed $336.65million, a 77.42% increase to the $136.36million sales in the previous month.
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 statement said vandalism of NNPC pipelines across the Country recorded a phenomenal spike of 50% increase in January, saying 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 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 however explained that NNPC, in collaboration with the local communities and other stakeholders, were working in harmony to curtail this menace.
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.
It stated that 59.89 per cent 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 flaring accounted for 7.90% when compared with average gas-flare rate of 8.46 per cent ifor 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 per cent, was supplied to gas-fired power plants, while the balance of 528.10mmscfd or 45.22 per cent was supplied to other industries.”
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.
