Nigeria Records 253.09BCF Of Natural Gas In January – NNPC
A total of 253.09 Billion Cubic Feet (BCF) of natural gas was produced in January 2020 translating to an average daily production of 8164.23 Million Standard Cubic Feet per Day (mmscfd).
The Nigerian National Petroleum Corporation (NNPC) made this disclosure in its monthly financial report for the period January 2020.
It also said a total of 3,128.57 BCF of gas was produced representing an average daily production of 7,937.25mmscfd during the period.
The report, which Economic Confidential sighted on Tuesday, said Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.17 per cent , 21.59 per cent and 9.24 per cent respectively to the total national gas production.
According to the document, 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 commercialised for the domestic and export market respectively.
Gas re–injected, Fuel gas and Gas flared stood at 1,281.36 BCF, it said.
On Natural Gas Off take, Commercialization & Utilization, the report said: “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.”
NNPC said this implies that 59.89 per cent of the average daily gas produced was commercialized 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.
Continuing, Petroleum Product Supply from Direct sales Direct Purchase (DSDP)
In January 2020, 1,961.41 million litres of PMS were supplied into the country through theDSDP arrangement as against the 1,637.85 million litres of PMS supplied in the month of December 2019.
The report said ” 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, said the report, 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.”
NNPC added that 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 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.
It added that total export crude Oil & Gas receipt for the period 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,” said NNPC.
The report recalled that “in January 2020, NNPC remitted the sum of N138.57 Billion to the Federation Account Allocation Committee (FAAC). From January 2019 to January 2020, total NNPC remittances 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.”
