Nigeria’s Gas Flare Rate Increases to 12% – NNPC

OilA gas flare burns at the central processing plant for oil and gas in the Salym oilfields near Surgut, Russia. Photographer: Alexander Zemlianichenko Jr.
  • Nigeria’s Gas Flare Rate Increases to 12% – NNPC

The Nigerian National Petroleum Corporation on Wednesday announced an increase of 1.97 per cent in the country’s gas flare rate.

According to the national oil firm, in its latest monthly financial and operations report for August 2017, the country’s gas flare rate increased from 10.03 per cent in July to 12 per cent in August.

The report, which was released in Abuja, stated that the 12 per cent gas flare rate translated to 919.73 million standard cubic feet per day.

The corporation, however, stated that Nigeria was among countries with highest gas flare rates, but stressed that a number of Clean Development Mechanism projects aimed at appropriate gas utilisation had improved the country’s standing in this regard.

The report gave an average gas flare rate of 10.15 per cent, or 734.56mmscfd, for the period August 2016 to August 2017.

The NNPC said product pipeline breaches stood at 70 points for August 2017, out of which 62 pipelines were vandalised.

It said the Port Harcourt-Aba pipeline accounted for 46 vandalised points or 74 per cent of the total recorded cases.

To tackle the challenge, the corporation stated that it had continued to engage members of various host communities to stem incidences of pipeline infractions.

The report also listed security synergy with international oil companies as part of the steps taken to stem oil and gas sabotage, which involved the deployment of a structured security apparatus in operational areas.

The NNPC further stated that 950.67 million litres of white products were distributed and sold by the Petroleum Products Marketing Company in August this year.

“Although the figure was lower than the 1,121.92 million litres in the preceding month of July 2017, yet it was enough to ensure adequate supply of petroleum products,” it said.

About the Author

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

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