16 February 2017

Nigeria: As Consultations Continue, Nigeria Records 58 Per Cent Decrease in Pipeline Vandalism in Niger Delta

Photo: The Guardian

The Nigerian National Petroleum Corporation, NNPC, said on Thursday that it has recorded about 58 per cent reduction in cases of pipeline sabotage.

This was disclosed in the Corporation's monthly Financial and Operations Report for December 2016.

According to the report, only 18 cases of vandalized points on downstream pipelines were recorded in November 2016 as against 43 in the previous month.

The downward trend in the cases of pipeline sabotage, according to the report, was due to sustained engagement with stakeholders by the Federal Government and the NNPC.

The federal government has been engaging leaders and stakeholders in the Niger Delta to ensure security of oil and gas facilities as well as development of the region. Last year, President Muhammadu Buhari met with a delegation of leaders and public officials in the Niger Delta. The presidency, led by Vice President Yemi Osinbajo, has since followed that up with visits and consultations with stakeholders in the oil producing region.

The NNPC report also indicated a 13.4 per cent rise in oil and gas sales in December 2016 over sales in November 2016.

A total export sale of $195.40 million was recorded for crude oil and gas in the month under review as against the sum of $166.18 million recorded in November 2016.

"This is $20.22 million higher than the preceding month's performance. Crude oil export sales contributed $100.37 million (or 51.36 per cent) of the dollar transactions compared with $96.31 contribution in the previous month", the report stated.

The report put the total export sales of crude oil and gas from January to December 2016 at $2,445,451,363 (over $2.4 billion).

The report also indicated that the total export proceeds of $175.04 million for the month of December 2016 was "remitted to fund the JV cash call for the month of December 2016 to guarantee current and future production".

In the downstream, a total of 1,392,154,486 (1.39 billion) litres of white products was distributed and sold by the Pipelines and Products Marketing Company (PPMC) in December 2016 compared to 1,248,831,982 (1.25 billion) litres in November 2016.

According to the report, of the total volume of 12.67 billion litres of white products distributed in 2016, petrol accounted for 88.07 per cent.

The report also revealed that about 9,493,640 barrels of crude oil were processed under the Direct-Sales-Direct-Purchase, DSDP, scheme in November 2016.

Nigeria

Economic Council Approves U.S.$1 Billion to Fight Boko Haram

The National Economic Council, yesterday, gave the federal government the go ahead to spend $1billion from the Excess… Read more »

Copyright © 2017 Premium Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.