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 in its Monthly Financial and Operations Report (MFOR) for the month of March; released in Abuja, on Wednesday, June 24.
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 218.37 Billion 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 3,119.89 BCF 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,” NNPC 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.