NNPC records 39.13% increase in pipeline vandalism

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..Crude oil, gas sales of $219.75m in May

…posts N295.72bn from sale of petroleum products in May

…generates N2.345trn from sales of petroleum products in one year

The Nigerian National Petroleum Corporation (NNPC) on Monday said it recorded 39.13 per cent increase in pipeline vandalism in month.

The Corporation hinted that it is collaborating with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace.

NNPC said in May 2021 it recorded 64 pipeline points vandalized, representing 39.13per cent increase from the 46 points recorded in April 2021.

According to NNPC, Port Harcourt area accounted for 65per cent and Mosimi and Kaduna Areas accounted for 30per cent and five per cent respectively of the vandalized points.

NNPC in its Monthly Financial and Operations Report (MFOR) also disclosed that it recorded a total crude oil and gas export sales of $219.75million in May 2021, representing 180.29per cent increase on sales from the previous month of April 2021.

The Group General Manager, Group Public Affairs Division of the Corporation, Mr. Garba Deen Muhammad in statement in the report said  crude oil export sales contributed $181.19million  or 82.45per cent of the dollar transactions compared with $4.22 million contribution in the previous month, while the export gas sales component stood at $38.56million in May 2021.

The report also shows that between May 2020 and May 2021, the Corporation exported crude oil and gas worth $1.64billion.

In the gas sector, the report shows that natural gas production in the month under review increased by 6.19per cent at 222.23billion cubic feet (bcf) compared with output in the previous month, translating to an average production of 7,177.53million standard cubic feet (mmscf) of gas per day.

For the period May 2020 to May 2021, a total of 2,898.34bcf of gas was produced representing an average daily production of 7,322.94mmscf during the period.

Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 60.94per cent, 20.04per cent and 18.99per cent respectively.

Out of the 216.29bcf of gas produced in May 2021, a total of 133.56bcf was commercialized, consisting of 44.02bcf and 89.54bcf for the domestic and export markets respectively.

This translates to a total supply of 1,419.83mmscfd of gas to the domestic market and 2,893.66mmscfd to the export market for the month.

This implies that 61.75per cent of the average daily gas produced was commercialized while the balance of 38.25 per cent was either re-injected, used as upstream fuel or flared.

In the Downstream sector, the report indicates that the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, posted a total sum of N295.72billion from the sales of petroleum products in the month of May 2021 compared with N220.13billion sales in April 2021.

Furthermore, total revenues generated from the sales of petroleum products for the period of May 2020 to May 2021 stood at N2.345trillion where Premium Motor Spirit (PMS) contributed about 99.61per cent of the total sales with a value of N2.336trillion.

In terms of volume, the figure translates to a total of 2.241billion litres of white products sold and distributed by PPMC in the month of May 2021 compared with 1.673billion litres in the month of April 2021.

Total sales of petroleum products for the period May 2020 to May 2021 stood at 18.651billion litres and PMS accounted for 99.69% of total volume.

The 70th edition of the NNPC MFOR highlights the Corporation’s activities for the period of May 2020 to May 2021.