Oil and Gas

Rate Of Pipeline Vandalism Increased By 50% In January 2020 – NNPC

The Nigerian National Petroleum Corporation (NNPC) reported that vandalism of key assets (pipelines) in the nation’s hydrocarbon resources industry rose by 50 percent in January this year, thereby causing huge crude and gas losses to the country during the month.

The corporation, which disclosed this in its just published Monthly Financial and Operations Report (MFOR) released in Abuja, specifically stated that “60 pipeline points were vandalized, compared to the 40 incidents recorded in December 2019.

“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 added.

The NNPC, however, stated that it was working  in collaboration with the local communities and other stakeholders to curb the menace.

The corporation stated that to ensure steady supply and effective distribution of Premium Motor Spirit (petrol) nationwide, 1.20 billion litres of the white product, translating to 38.68mn liters/day, were supplied for the month.

On earnings from crude oil and exports during the month, the corporation stated that crude oil and gas export sales stood at $434.85 million, representing an an increase of 94.30 per cent over December 2019 accruals.

It said that the month’s crude oil export sales contributed $336.65 million (77.42 per cent) of the dollar transactions for the period, compared to the $136.36 million sales in the previous month.

The state-owned oil company reported 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 $5.18 billion was exported. In the Gas Sector, it revealed that out of the 253.09 billion cubic feet (BCF) of gas supplied in January, a total of 151.16BCF of gas was commercialised, consisting of 36.20BCF and 114.96BCF for the domestic and export market, respectively.

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