Home Oil & Gas Nigeria oil, gas export sales up to $416m

Nigeria oil, gas export sales up to $416m




The Nigerian National Petroleum Corporation (NNPC) says a total of crude oil and gas export sales of $416.07 million was realised in June, which is 35.78 per cent higher than the previous month.

The details of the figures was contained in the June 2018 edition of the Monthly NNPC Financial and Operations Reports, released in Abuja, on Thursday.

The corporation noted that the crude oil export sales contributed $274.95 million, which translated to 66.08 per cent of the dollar transactions compared to $244.72 million contribution in the previous month.

According to the report, the export gas sales for the month amounts to $141.12 million. The report noted that the corporation undertook the repairs of ruptured gas pipeline, which supplies gas to most thermal electricity generating plants in the country.

“In all, a total of 744 million standard cubic feet of gas per day (mmscfd) was delivered to the gas fired power plants in the month under review,” it said.

This, it said, generated an average power of about 2,970mw compared with the May figure where an average of 742mmscfd was supplied to generate 2,940mw.

“A total of 211.51 billion cubic feet (bcf) of natural gas was produced in the month of June translating to an average daily production of 7,056.22mmscfd.

“For the period between June 2017 and June 2018, a total of 3,080.90bcf of gas was produced, representing an average daily production of 7,826.41mmscfd.

“During the period under review, production from Joint Ventures (JVs), Production Sharing Contracts (PSC) and Nigerian Petroleum Development Company (NPDC) contributed about 69.35 per cent, 21.77 per cent and 8.88 per cent respectively, to the total national gas production,” it added.

Meanwhile the Federal Operations Unit (FOU), Zone ‘A’ of the Nigeria Customs Service (NCS) says it has intercepted various smuggled items with a Duty Paid Value (DPV) worth N2.24 billion in one month.

The Area Controller of the command, Comptroller Aliyu Mohammed, who disclosed this to newsmen in Lagos on Thursday, said the items were seized within 30 days.

According to him, the smuggled items include nine bullet-proof Sports Utility Vehicles (SUVs) and 11,000 bags of 50kg foreign parboiled rice, with an approximate DPV of N2.02 billion. He said that 28 suspects were arrested in connection with the total of 89 seizures between September 4 to October 3, while two bags of military uniforms were also intercepted.

“The gas flare rate was 10.33 per cent for the month under review, that is 721.83mmscfd, compared with the average gas flare rate of 10.4 per cent, that is, 813.37mmscfd for June 2017 to June 2018,” it said.

In the downstream sub-sector, 1,194.93 million litres of petrol were supplied into the country through the Direct-Sale-Direct-Purchase (DSDP) arrangements as against the 1,096.45 million litres of petrol supplied in May 2018.

It noted that the petroleum products (petrol, diesel and kerosene) production by the domestic refineries in the month under review amounted to 205.73 million litres compared to 161.91 million litres in May 2018.


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