The Nigerian National Petroleum Corporation (NNPC) has said that the nation’s natural gas total production is 253.09 Billion Cubic Feet (BCF).
The Federal Government agency announced this in its monthly report and disclosed natural gas was produced in January 2020.
The report maintained that the production translated to an average production of 8164.23 Million Standard Cubic Feet per Day (mmscfd).
The NNPC also noted that a total of 3,128.57 BCF of gas was produced showing an average daily production of 7,937.25mmscfd during the period under report.
The NNPC further hinted that the production was from Joint Ventures (JVs), Production Sharing Contracts (PSCs) while other contribution of about 69.17 per cent, 21.59 per cent and 9.24 per cent came from NPDC, which led to the total national gas production.
The report however, stated that the total gas supply for the period January 2019 to January 2020 stood at 3,117.29 BCF out of which 464.59 BCF and 1,372.33 BCF were transacted for the domestic and export market.
The report buttressed that gas re–injected, fuel gas and gas flared stood at 1,281.36 BCF.
“Out of the 253.09 BCF of gas supplied in January 2020, a total of 151.16 BCF of gas was commercialised consisting of 36.20 BCF and 114.96 BCF for the domestic and export market respectively.
“This translates to a total supply of 1,167.80 mmscfd of gas to the domestic market and 3,708.23 mmscfd of gas supplied to the export market for the month,” the report stated.
The organisation explained the report indicates that 59.89 per cent of the average daily gas produced was commercialised while the balance of 40.11 per cent was re-injected, used as upstream fuel gas or flared.
“Gas flare rate was 7.90 per cent for the month under review which is 643.59 mmscfd compared with average Gas flare rate of 8.46 per cent i.e. 671.40 mmscfd for the period January 2019 to January 2020,” the report said.
The report further hinted that in January 2020, 1,961.41 million litres of Premium Motor Spirit was supplied into Nigeria through the DSDP arrangement as against the 1,637.85 million litres of PMS supplied in the month of December 2019.
According to the report; “the reprint said a total export sale of $434.85 million was recorded in January 2020; increasing by 94.30 per cent compared to last month.
“Crude oil export sales contributed $336.65 million (77.42 per cent) of the dollar transactions compared with $136.36 million contribution in the previous month; while the export Gas sales amounted to $98.20 million in the month.
“The January 2019 to January 2020 Crude Oil and Gas transactions indicated that Crude Oil & Gas worth $5.18 Billion was exported”.
The corporation posited that the total export receipt of $626.80 million was recorded in January 2020 as against $305.41million in December 2019.
“Contribution from Crude oil, according to the document, amounted to $361.19 million while Gas and miscellaneous receipts stood at $91.12 million and $174.48 million respectively,” NNPC said.
It averred that of the export receipts, $242.07 million was remitted to the Federation Account while $384.72 million was remitted to fund the JV cost recovery for the month of January 2020 to guarantee current and future production.
The above mentioned the report pointed out that the total export crude oil and gas receipt for January 2019 to January 2020 stood at $5.48 billion.
“Out of which the sum of $3.81 billion was transferred to JV Cash Call as first line charge and the balance of $1.67 Billion was paid into Federation Account,” NNPC maintained.
According to the report; “in January 2020, NNPC remitted the sum of N138.57 Billion to the Federation Account Allocation Committee (FAAC). From January 2019 to January 2020, a total NNPC remittance to FAAC is N1, 710.63 Billion; out of which Federation and JV received the sum of N711.00 Billion and N999.63 Billion respectively”.
© 2020, https:. All rights reserved., Attribution and link to nigeriamaritime360.com is required if you wish to use any of the articles on this site