NNPCL Flares 100% Gas Output  Earns Zero Revenue In Sept

In spite of the Federal Government’s gas monetisation policy and pledge to the United Nations to attain net zero by 2060, the Nigerian National Petroleum Company Ltd. flared 100 per cent of their gas output in September and earned no revenue from it during this period.
The NNPCL gas production and utilisation data for September 2022, obtained by The Tide’s source described its subsidiary, Nigerian Petroleum Development Company as one of the worst offenders in gas flaring in September.
The firm and its Joint Venture partners, Seplat Petroleum Development Company and NPDC-Chevron Nigeria, flared 100 per cent of their entire gas output of 106 million standard cubic feet of gas and 7 million standard cubic feet of gas, respectively.
The firm further noted that Newcross Exploration and Production Ltd and Belema Oil flared about 96 per cent and 75 per cent of their 112 million standard cubic feet of gas and 21 million standard cubic feet of gas, respectively.
Also, about 8 billion SCF of gas was flared in September, representing 5 per cent of the total gas output for the month, compared with 10 billion SCF of gas flared in the month, of August, according to the report.
This is coming at a time the country is battling a cash crunch due to a drop in its oil revenue on the back of a significant decline in oil production which dipped to below 1million barrels per day, the lowest in 32 years.
The government has been relying heavily on borrowing to finance its activities, as its debt reached an all-time high of N42.84 trillion in June.
The NNPCL gas production and utilisation data did not state why the firm had flared the whole of its gas production for the month. The firm’s spokesperson, Garba Deen, did not also respond to both phone calls and messages sent to him.
Mobil emerged as the highest gas producer in the month under review with a total output of about 25 BSCF of gas, out of which it utilised 23 BSCF of gas and flared 1.6 BSCF of gas.
Shell Nigeria followed with a total gas output of about 25 BSCF of gas, utilising 24 BSCF and flaring 0.5 BSCF; Chevron Nigeria produced about 24 BSCF of gas, out of which it utilised 23 BSCF and flared 0.2 BSCF of gas and Total Energies Nigeria produced about 23 BSCF of gas, out of which it utilised 22 BSCF and flared 0.6 BSCF of gas.