Pipeline vandalism drops by 28%, NNPC says
The Nigerian National Petroleum Corporation (NNPC) says pipeline vandalism across the country had reduce by 28 per cent.
The corporation made this known in its 13th publication of Monthly Financial and Operations Report released on its website on Thursday.
According to the report, the spate of pipeline vandalism has reduced following the Federal Government and NNPC’s sustained engagements with Niger Delta militants.
“In August, 2016, there was 28.94 per cent drop in the number of pipelines vandalised points relative to July, 2016 which had up to 311 vandalised points,’’ the report stated.
On natural gas supply to power plants, the report stated that it edged up to 469 million standard cubic feet per day (mmscfd) which equalled about 2,083 megawatts of electricity generation in August, 2016.
On refineries’ operations, it report said that the combined value of output by the three refineries “at import parity price’’ for August, 2016 was N50.19 billion.
“Associated crude plus freight cost was N39.77 billion, giving a surplus of N709.21 million after an overhead of N9.71 billion,’’ it said.
The report said that this was made possible in spite of the challenges of irregular crude supply and pipeline vandalism to the refineries.
On naira payments to the Federation Account, NNPC said that it transferred N35.05 billion into the account in September from the net domestic crude oil receipt and another N1.80 billion from gas receipts.
It added that its instalment repayment of debt to the Federation Account was also done with N6.33 billion remitted as the 25th instance in the process.
“The domestic crude oil and gas receipt during the month amounted to N96.15 billion, consisting of N1.80 billion from domestic gas and the sum of N88.01 billion from domestic crude oil.
“Of the N88.01 billion receipt from crude oil, the sum of N52.96 billion (about 268.83 million dollars) was transferred to Joint Venture Cash Call (JVCC) being a first line charge.
“It also guarantees a continuous flow of revenue stream to Federation Account,” the report said.
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2 Comments
BUYCEMENT
DIRECT FROM THE FACTORY FOR 1000NAIRA PER BAG AND 300NAIRA PER BAG,INDIVIDUAL CAN ORDER A MINIMUM OF 100BAG,A TRAILER LOAD OF 600BAG,TRAILER LOAD OF 900BAGS AND ABOVE,CÒNTACT THE SÁLES MÁNAGER MR OARE OJEIKERE ON O7065383508 OR AŚSISTANT SÀLES MANÀGER MRS MARY ON O8132066217 FOR BOOKING
if the picture used in this article is accurate, that might be one of the major problem with our vandalism issues. This pipelines need to be bury underground with only knowledge and access to be known by the company and the government.
We will review and take appropriate action.