Nigeria lose N32bn onto gas-flaring matter

Nigeria lose $198.775 million, about N31.8 billion, for one month onto gas flaring, as companies for the oil and gas sector flare 50.098 billion Standard Cubic Feet (SCF) of gas for February 2014   United States Energy Information Administration, EIA, put the price of natural gas for the international market for $3.89 per million British thermal unit, BTU, of gas. One SCF of gas equals to 1,020 BTU of gas.

According recent release data by Nigerian National Petroleum Corporation, NNPC, for activities for the Nigerian petroleum sector for the month of February, the amount of gas when dem flare na about 23.2 per cent of the total gas dem produce for the period.

According to NNPC, the total gas dem produce for the period na 215.93 billion SCF, dropping by 5.19 per cent or 11.81 billion SCF from 227.74 billion wen dem record for January 2014.

for the total amount of gas when dem produce, only 165.83 billion SCF of gas na him dem utilise, representing 76.8 per cent of the total amount of gas dem produce.

Sole Risks/Independent oil companies na the worst offenders, flaring 87.25 per cent of the total gas production.

Specifically, Sole risks/Independents oil companies produce 17.42 billion SCF of gas, utilise 2.22 billion SCF come flare 15.2 billion SCF.

Marginal fields’ operators follow, flare 55.49 per cent or 1.066 billion SCF of their total gas production of 1.92 billion SCF.

Production Sharing Companies, PSC, flare 22.79 per cent or 9.477 billion SCF of gas from the total production of 41.58 billion SCF, while Joint Venture, JV, operators produce 155.01 billion SCF of gas, utilise 130.65 billion SCF come flare 24.36 billion SCF of gas, representing 15.71 per cent for the total.

Six companies – Seplat, First Hydrocarbon, ND Western, Express Petroleum, Energia, and Midwestern Oil and Gas flare 100 per cent of the gas them produce, while Dubri Oil, Platform Petroleum, and Pillar Oil flare 98.76 per cent, 96.8 per cent and 88.97 per cent respectively, of their total gas production.

In General, the NNPC come state say only Shell Petroleum Development Company, SPDC, Mobil Producing Nigeria, MPN, and Addax Petroleum carry out exploration/drilling activities during the month under review, stating say the operation been dey carried out on eight wells.

Continuing, dem state, “Terminal (fiscalised) production total for the month na about 63.86 million barrels representing 2.28 million barrels per day, and lower by 10.19 per cent of January 2014 production of 71.11 million barrels or 2.29 million barrels per day.

“Total crude oil and condensates lifting for both domestic and export na about 69.57 million barrels. Oil companies lift about 38.78 million barrels, representing 51.79 per cent, while NNPC lift 30.79 million barrels, representing 48.21 per cent.

“Lifting by fiscal regime show say 33.73 million, 26.20 million, and 9.6 million barrels for JVC, PSC/SC, and others respectively. Out of NNPC’s lifting, 24.15 million barrels na for Federation Account, while 5.70 million barrels na for domestic use.

“The total Natural Gas Liquid, NGL, dem produce for the month of February 2014 na 118,096MT out of which Mobil been get about 51 per cent or 60,228MT and NNPC 49 per cent or 57,868MT.  total of 109,209MT na him dem lift for the month.”