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NNPC distributes over 1.3 billion Litres of fuel…Supplies over 252 billion Cubic Feet of Gas

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The Nigerian National Petroleum Corporation (NNPC) through its Downstream subsidiary, the Petroleum Products Marketing Company (PPMC), sold and distributed a total of 1.352.86 billion (one billion three hundred and fifty-two million and eight six thousand) litres of white products across the country in October, 2017.

Details of the transactions contained in the October 2017 edition of the Monthly NNPC Operations and Financial Report also indicated that 252.83 billion cubic feet of gas was supplied in the country within the period.

A breakdown of the volume of white products injected into the system shows that the 1.352.86 billion litres of products sold and distributed by PPMC within the period is slightly higher than the 1.282.61 billion litres for September 2017.

This comprised of 1.119.79 billion litres of petrol, 95.72 million litres of kerosene and 137.34 million litres of Diesel.  Total sale of white products for the period October 2016 to October 2017 stood at 16.18 billion litres, petrol amounted to 14.11 billion litres and accounts for 87.22%. While total special products for October 2017 was 114.49 million litres, comprising of 63.82 million litres of Low Pour Fuel Oil (LPFO) and other special products totaling 50.67 million litres.

The report also indicated that within the same period, 1.512.02 billion litres of petrol was supplied into the country through the Direct-Sale-Direct-Purchase (DSDP) arrangements as against the 886.46million litres supplied in September 2017.

It also noted that the petroleum products (petrol & kerosene only) production by the domestic refineries in October 2017 amounted to 204.31 million litres compared to 87.47 million litres in September 2017.

In terms of gas supply and production, the report which is the 27th in the series noted that out of the 252.83 BCF of gas supplied in October 2017, a total of 145.03 BCF of gas was commercialized, comprising of 35.41 BCF and 109.62 BCF for the domestic and export market respectively. This translates to an average daily supply of 1,142.15 million standard cubic feet of gas per day (mmscfd) to the domestic market and 3,536.11 mmscfd of gas supplied to the export market.

About 3,136.19 mmscfd or 88.69 per cent of the export gas was sent to Nigerian Liquefied Natural Gas Company (NLNG) Bonny for October 2017 compared with the period (October 2016 to October 2017) average of 3,066.29 mmscfd or 91.90% of the export gas.

Also, out of the 1,142.15 mmscfd of gas supplied to the domestic market in October 2017, about 716.28 mmscfd of gas, representing 62.71 per cent was used for Gas-Fired power plants while the balance of 425.87 mmscfd or 37.29 per cent was supplied to other industries. This implies that 57.36 per cent of the average daily gas produced was commercialized while the balance of 42.64 per cent was re-injected, used as upstream fuel gas or flared.

Gas flare rate was 9.59 per cent within the period i.e. 781.77 mmscfd compared with average Gas flare rate of 10.03 per cent i.e. 752.45 mmscfd for the period October 2016 to October 2017.

 

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#NNPC: You Are Likely To Spend Up To 8 Hours Buying Fuel Today

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#NNPC

#NNPC: You Are Likely To Spend Up To 8 Hours Buying Fuel Today—-According to Independent research carried out by Newsmen last week and over the weekend has revealed that the average motorist in cities like Lagos and Abuja will likely spend up to 8 hours to get fuel today.

Peak periods: As observed by Newsmen, between the hours of 4 am and 7:30 pm from Monday to Sunday, the peak periods, which signify longer hours at filling stations across several locations in Lagos and Abuja are:

Mondays:

4:30 am to 9:00 am

12 noon to 2 pm

4 pm to 7 pm

Tuesdays:

5 am to 10 am

12 noon to 2 pm

4 pm to 7 pm

Wednesdays:

5 am to 9:30 am

11:30 am to 2 pm

3:30 pm to 7 pm

Thursdays:

4 am to 10:30 am

12 noon to 3 pm

3 pm to 7 pm

Fridays:

4 am to 12 noon

1 pm to 7 pm

Saturdays:

4 am to 12 noon

1 pm to 7:30 pm

Sundays:

8 am to 12 noon

2 pm to 7:30 pm

Growing trends

Motorists favor NNPC filling stations in Abuja: Newsmen research showed that filling stations owned by the Nigerian National Petroleum Company (NNPC) in suburbs like Kubwa, Karu, and Wuse in Abuja usually sell fuel from morning till nightfall, giving motorists the chance to buy fuel at N180 per liter.

Auwal Mohammed, a Lagos-based civil servant told Newsmen that he only buys fuel from NNPC because their fuel prices are less than what other stations are selling, but he suffers a lot for it because NNPC queues are longer. But in the end, he can fill up his tank at the rate they are selling.

As noticed by Newsmen, customers spend up to 8 hours in never-ending queues at NNPC stations, which impacts productivity. Some motorists have on occasion, had to sacrifice work hours just to get fuel directly from filling stations.

Nigerians are leaving their cars at home: Some have left their cars at home and tried to use the public transportation system, where they encounter exorbitant prices due to fuel scarcity. Tunde O, an Abuja-based motorist who spoke to Newsmen said he had abandoned his car at home in favour of the public transportation system for his work commute from Mararaba to Garki Area 8. He said he pays an average of N1000 for his daily commute now and that the drivers of the Hiace buses he uses are uncompromising when it comes to fare charges. He said:

  • “That’s how I know that fuel scarcity is a big challenge for them. There is no fuel and some filling stations have started locking up even before nightfall, so some of these bus drivers have to patronise the black-market traders and from what I hear, some of them sell as high as N600 per liter, depending on the location.”

Adapting to the situation: Jonathan Useni, an Abuja-based contractor told Nairametrics that the population is larger in areas like Nyanya, Mararaba and One-man Village compared to places like Asokoro, Wuse, Garki and Maitama. So, he and some other motorists, who live in Nyanya have worked out a system.

  • “Around 6 pm on weekdays, when we are sure that many people have closed from work and are on their way home and a lot of vehicles are locked in traffic, we drive from our areas in Nyanya to places like Wuse, Maitama, and surrounding areas to buy fuel. This is because those stations usually do not have long queues like you would see in the areas I mentioned, especially in the evenings. We can encounter queues or even locked stations, but, in the end, we must buy fuel.

Some filling stations are not serving motorists: Newsmen also noticed that some filling stations usually lock up during supposed work hours. It was revealed that owners/managers of these stations restrict sales due to the exorbitant prices they have to pay to private depot owners to get fuel. Nairametrics had earlier reported that private depot owners sell fuel to independent marketers at N195 to N210 per liter, as opposed to N148 per liter. Private depot owners are complaining about the cost of transportation from the mother vessel to their private depots because of the escalation of the cost of the dollar, as they buy their dollars at the black-market rate.

Nigerians are desensitized: Nigerians are stressed out from the fuel scarcity challenge, however, there are scarce complaints across the board. Chukwudi Nelson, a commercial driver in Lagos told Nairametrics that Nigerians are no longer complaining because they know that the powers that be do not care, so they just tighten their belts and move on.

For the record: November 23 data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that the country had over 388 million liters of land-based stock of fuel as of November 22, 2022.

 

CREDIT: NAIRAMETRICS

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Sylva: FG To Grow Oil Reserves To 40Billion Barrels By 2025

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FG To Grow Oil Reserves To 40Billion Barrels By 2025

Sylva: FG To Grow Oil Reserves To 40Billion Barrels By 2025—-Chief Timipre Silva, Minister of Petroleum Resources, says one of the key mandates of the ministry is to grow oil reserves from the current 37 billion barrels to 40 billion barrels by 2025.

Sylva said this on Tuesday at the official ground-breaking of the Oil Prospecting Licenses (OPLs) 809 and 810 at the Kolmani River II well located at a border community between Bauchi and Gombe states.
The Kolmani Integrated Development Project was inaugurated by President Muhammadu Buhari with some top government officials including governors, cabinet members, captains of industry and Nigerian National Petroleum Company Ltd. (NNPCL) officials, among others in attendance.
He said he was particularly excited at the partnership between NNPCL, Sterling Global Oil, and New Nigeria Development Commission (NNDC), to carry out the drilling campaign.
“This is a testimony of the fact that the hydrocarbons sector still holds promise of returns on investment, highlighting the role that this resource will continue to play in the global energy mix,” Sylva said.
He recalled that in 2019 when the NNPC announced that it had encountered oil in ‘commercial quantities’ at the Kolmani River well II, the nation celebrated the news as a fitting outcome for years of geological investigations.
“In spite of the enormity of challenges that NNPC was confronted with, the day has come when we can collectively witness and celebrate drilling for hydrocarbons in the North of our dear country,” he said.
He said the ministry was committed to finding and developing ways to end energy poverty, create shared prosperity and enthrone sustainable development.
Sylva said the Petroleum Industry Act (PIA) provided regulatory support and framework for achieving this mandate by providing Frontier Exploration Fund which the NNPC could utilise to deploy world-class cutting-edge technologies to de-risk exploration in frontier basins.
“The commencement of drilling of Kolmani fields which could hold as much as one billion barrels crude oil reserve, will significantly contribute in boosting our oil reserves and ensuring our continuous energy sufficiency,” he said.
He thanked the President for demonstrating his commitment to the uninhibited development of the petroleum industry.
In a remark, the  Group Chief Executive Officer, NNPCL, Malam Mele Kyari, said the discovery of commercial oil and gas deposit at Kolmani oil field in 2019 was further appraised and validated by Kolmani team.
Kyari, while thanking the Bauchi and Gombe states governments and their partners  said development of framework was put in place to guarrantee financing and technology required to deliver the integrated project.
He assured the President that it would leverage every mechanism including asset based financing framework for delivery of the project for it to stand out as the administration’s lasting legacies.
Dr Ahmad Lawan, the Senate President, also lauded the President for achieving a landmark feat, adding that the Petroleum Industry Act (PIA) provided in section nine, five and four 30 per cent of profit from oil exploration.
Lawan said that Bauchi and Gombe states would soon be benefiting from the 13 per cent derivation and the host community development fund which would have serious impact on the lives of the host community dwellers.
He urged the government to use revenue generated from oil to improve livelihood of the dwellers and also to ensure deployment of  technology as well as ensure safe environment.
The senate president,  while decrying the worrisome sight of Niger-Delter region, especially Ogoni Land advised operators of the oil fields to avoid contaminating the environment.
In an address, the Group Managing Director, NNDC, Shehu Mai-Borno, pledged commitment toward the realisation of the integrated development project.
Also speaking, the Managing Director,  Sterling Oil Exploration and Energy Production Company Ltd., Mr Mohit Barot,  presented a short video indicating the project overview.
Barot, while thanking the Federal Government for finding the company as a reliable partner for achieving energy security said it had secured requisite financing required for the project.
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JUST IN: #NNPC And #DAEWOO Group Sign MoU For Rehabilitation Of Kaduna Refinery

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#NNPC And #DAEWOO Group

JUST IN: #NNPC And #DAEWOO Group Sign MoU For Rehabilitation Of Kaduna Refinery—President Muhammadu Buhari has expressed delight as he witnessed signing of the Memorandum of Understanding (MoU) between Nigerian National Petroleum Company Ltd and Daewoo Group for the rehabilitation of the Kaduna refinery.

Mr Femi Adesina, the President’s Special Adviser on Media and Publicity, confirmed this development in a statement on Thursday in Abuja.

Adesina said the president was particularly excited as the signing came against the back of ongoing rehabilitation works at Warri refinery by same Daewoo Group of South.

According to the presidential aide, the Warri refinery rehabilitation works, when completed, will at the first instance, deliver fuels production before the first half of 2023.

Adesina quoted the Nigerian leader as saying: “Daewoo Group has massive investments in the automobile, maritime and other sectors of our economy.

”I am also aware that Daewoo is currently engaged in the execution of the NLNG train seven project and also constructing sea-going LPG vessels for NNPC and her partners.”

The president said he looked forward to the delivery of ongoing projects, especially at the Warri and Kaduna refineries, and the NLNG Train Seven.

”This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria.

“I thank you for your faith in Nigeria,” Buhari told the Korean conglomerate at the end of the significant ceremony on the last day of his visit to the Asian country to attend the First World Bio Summit.

The News Agency of Nigeria (NAN) reports that President Buhari is expected back to Abuja from Seoul, South Korea, on Thursday night. (NAN)

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