PASS AT ONCE IN 2019 NECO GCE @ Akahi Tutors, Ile-Ife. Call; 08038644328
Latest News

NNPC Raises The Alarm Over Pipeline Vandalism

Abuja – The Nigerian National Petroleum Corporation (NNPC) has raised the alarm on the increasing menace of oil pipeline vandalism which hit a record high of 228 pulverized points in July.

The corporation disclosed on its July Monthly Financial and Operations Report (MFOR) released in Abuja on Wednesday.

It noted that the breached lines represented an increase of 115 percent from the 106 vandalised points recorded in June 2019.

It noted that out of the vandalised points, 15 failed to be welded, while five points were ruptured.

The report noted that the Aba-Enugu axis accounted for 35 percent of the breaks, while Port Harcourt (PHC)-Aba route recorded 22 percent, with Ibadan-Ilorin layout hitting a 16-percent mark.

Similarly, the report revealed that the Lagos Atlas Cove-Mosimi zone logged 12 percent with other locations recording the remaining 15 percent of the breaks.

On supply of products, it said that a total of 1.73 billion litres of the premium motor spirit (PMP) also known as petrol, translating to 55.74m litres/day were supplied for the month under review.

It added that the corporation would continue to diligently monitor the daily stock of fuel to ensure smooth distribution of petroleum products and zero fuel queue across the nation.

On gas supply, a total of 730 million standard cubic feet of gas per day (mmscfd) was delivered to gas fired power plants in the month of July to generate an average power of about 2,864MW.

The report also noted that a total of crude oil and gas export receipt of $390.33 million was recorded in the month under review as against $312.93 million in June 2019.

It stated that contribution from crude oil amounted to $250.35 million, while gas and miscellaneous receipts stood at $76.28 million and $63.71 million, respectively.

The report, which is the 48th edition of the NNPC MFOR, indicated an improved trading surplus of N4.26 billion compared to the N3.92 billion surplus posted in June 2019.

“The increase of 3.62 percent in the month is due largely to the enhanced surplus posted by the Nigerian Gas Company (NGC), arising from half-year adjustments; coupled with increased surplus recorded by the Petroleum Products Marketing Company (PPMC),” it added.

The post NNPC Raises The Alarm Over Pipeline Vandalism appeared first on Independent Newspapers Nigeria.

Advertisements

Categories: Latest News

Tagged as: Independent

REGISTER and CRUSH 2019 OAU Pre-Degree @ Akahi Tutors, Ile-Ife. Call; 08038644328 or Click Here For Details