106 Pipelines Vandalised in June –NNPC

  • 106 Pipelines Vandalised in June –NNPC

The Nigerian National Petroleum Corporation (NNPC) on Sunday said it has recorded 106 pipelines breaches in June 2019.

It added that the figure represents 77 per cent rise from the 60 points vandalized in May 2019.

In its Monthly and Financial and Operations Reports (MFOR), NNPC, gave a break-down of the loss. According to its Group General Manager, Group Public Affairs Division, Ndu Ughamdu, the Aba-Enugu axis in the system 2E pipeline corridor accounted for 25 per cent while the Lagos Atlas Cove-Mosimi axis of the system 2B represented 23 per cent.

He added that the Ibadan-Ilorin leg of the system accounted for 18 per cent of breached pipelines while the PHC-Aba section of the system 2E represented 13 per cent. Other areas across the country accounted for the remaining 21 per cent.

The report also revealed that regardless of the spate of vandalism on critical pipelines during the period, the corporation has unrelentingly ensured fuel supply and distribution across the country through a continuous monitoring of the reserve; adding that, in June 2019, the corporation effectively supplied 1.76 billion litres of petrol, which translate to 58.65 million litres per day.

The document also revealed that 223.98 billion cubic feet of natural gas were produced in the gas sub-sector, in the month under review. This translates to an average production of 7,466.09 million standard cubic feet per day; an increase of about 0.11 per cent over the production in May.

The report also revealed that the Nation, being an oil-rich country, still depends mainly on importation, considering the fact that oil facilities have only utilized 5.55 per cent of their combined capacity of about 445,000 barrels per day.

It should be recalled that the Federal government last week revealed that to achieve the 2023 targets, it had begun the overhaul of oil facilities, starting with the Port Harcourt refineries.

NNPC has however given itself a three-year deadline to assess the operations of the refineries, support condensation plants and open the midstream sector.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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