Oil marketers to get N236bn
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Wed Apr 14 2021
The Nigerian National Petroleum Corporation (NNPC) has announced a 37.21 percent decrease in cases of pipeline vandalism across the country in the month of January 2021.
This is contained in the January 2021 (66th) edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release yesterday by the Group General Manager, Group Public Affairs Division of the Corporation, Dr Kennie Obateru
The report indicates that a total of 27 pipeline points were vandalized in January 2021 down from the 43 points recorded in December 2020.
The Mosimi Area accounted for 74 percent of the vandalized points while Kaduna Area and Port Harcourt accounted for the remaining 22% and 4% respectively.
By Emmanuel Addeh
The Organisation of Petroleum Exporting Countries (OPEC) has raised its forecast for crude oil demand growth this year on the back of an expected stronger economic recovery.
The cartel, in its April Monthly Oil Market Report (MOMR), a copy of which THISDAY obtained yesterday, said demand would rise by 5.95 million barrels per day (bpd) in 2021, or 6.6 per cent, up by 70,000 bpd from last month.
Also yesterday, the Nigerian National Petroleum Corporation (NNPC) reported an improvement in the supply of gas for power generation, saying that along with its Joint Venture (JV) partners, it produced a total of 223.55 Billion Cubic Feet (BCF) of natural gas in January 2021.
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The Nigerian National Petroleum Corporation (NNPC) has noted that natural gas production in Nigeria rose by 4.8 per cent to 223.6 billion cubic feet (BCF) in the month of January 2021.
This was contained in the 66th edition of the NNPC MFOR Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Mr Kennie Obateru.
It highlights NNPC’s activities for the period of January 2020 to January 2021.
It is published in line with the corporation’s commitment to the tenets of Transparency, Accountability and Performance Excellence (TAPE).
According to the data, this translates to an average daily production of 7,220.2 million standard cubic feet per day (mmscfd).
By Sebastine Obasi
There seems to be silver lining in the horizon as the Nigerian National Petroleum Corporation (NNPC) said it has recorded a 37.21 per cent decrease in cases of pipeline vandalism across the country in the month of January 2021.
This is contained in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR). The report indicates that a total of 27 pipeline points were vandalized in January 2021 down from the 43 points recorded in December 2020.
Specifically, the report noted that the Mosimi Area accounted for 74 per cent of the vandalized points while Kaduna Area and Port Harcourt accounted for the remaining 22 per cent and 4 per cent respectively.