Nigeria recorded crude oil and gas export sale of $355.93 million in September 2019, the Nigerian National Petroleum Corporation (NNPC) has said.
This indicated a significant increase of 52.84 per cent, compared to the August, 2019 figure of $232.87 million.
A statement in Abuja by NNPC’s Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, announced the sales figures.
The NNPC Monthly Financial and Operations Report (MFOR), which bears the September 2019 crude oil and gas export sales information is the 50th edition in the series, which debuted in 2015.
A breakdown of the figures indicated that crude oil export sales contributed $267.97 million (75.29 per cent) of the dollar transactions, compared to $150.73 million contribution in the previous month; the export gas sales amounted to $87.96 million in the month.
The September 2018 to September 2019 crude oil and gas transactions indicated that crude oil and gas worth $5.63 billion was exported.
The streak of positive results, which have characterised the operations of the corporation, was sustained with the posting of a trading surplus of ?8.59 billion recorded in the month under review.
The report indicated a significant increase of 65 per cent, compared to the ?5.20 billion surplus posted in August 2019.
In turn, the August figure of ?5.20 billion surpassed the ?4.26 billion surplus posted in the previous month of July 2019, reflecting an increase of 22 per cent, according to the September edition of the report.
The improved surplus posted in the Upstream and Downstream sector transactions of NNPC’s subsidiary companies, Integrated Data Services Limited (IDSL), Nigerian Gas Company (NGC), Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC), Nigerian Pipeline and Storage Company (NPSC), and Duke Oil Incorporated, explained the significant increase of 65 per cent in the September trading of corporation, the report said.
The MFOR noted that the percentage increase in the performances of the NNPC subsidiaries cushioned the September sharp decline in the results posted by the Nigerian Petroleum Development Company (NPDC), compared to the company’s posting in August, 2019.
The report states that in the Gas sector, 235.12 billion cubic feet (BCF) of natural gas was produced in September 2019, translating to an average daily production of 7,837.42 million Standard Cubic Feet per Day (mmscfd).
For September 2018 to September 2019, a total of 3,106.80 BCF of gas was produced, representing an average daily production of 7,941.69 mmscfd during the period.
Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.43 per cent, 21.14 per cent and 9.43 per cent to the total national gas production, according to the report.
Regarding natural gas off-take Commercialisation and Utilisation, out of the 235.12 BCF of gas supplied in September 2019, 135.63BCF of gas was commercialised, consisting of 32.25 BCF and 103.38 BCF for the domestic and export markets.
This translates to the supply of 1,074.86 mmscfd of gas to the domestic market and 3,446.02 mmscfd of gas supplied to the export market for the month under review.
It implied that 57.68 per cent of the average daily gas produced was commercialised while the balance of 42.32 per cent was re-injected, used as upstream fuel gas or flared.
In the Downstream sector, the report said 186 pipeline points were vandalised, representing an increase of 18 per cent, from the 158 points breached in August 2019.
Out of the vandalised points, 30 failed to be welded while none was ruptured.
Aba-Enugu axis accounted for 77 per cent of the breaks, while the Port Harcourt-Aba, ATC-Mosimi and other routes accounted for eight per cent each.
To eliminate the menace, the report informed that NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate the scourge.
