The Nigerian National Petroleum Corporation, NNPC, increased gas supply to power stations in the country by 8.6 percent in October 2020, according to the NNPC’s latest Monthly Financial and Operations Reports, MFOR.
The NNPC said in the Monthly Financial and Operations Reports for the month of October that a total of 214.07 Billion Cubic Feet. bcf, of natural gas was produced in the month, translating to an average daily production of 6,908.34 Million Standard Cubic Feet, mmscfd, per day.
The daily average natural gas supply to power plants increased by 8.6% to 745mmscfd, equivalent to power generation of 2,801 megawatts, the report said.
For the period of October 2019 to October 2020, a total of 3,018 bcf of gas was produced, representing an average daily production of 7,658.88mmscfd during the period.
The October 2020 MFOR also indicated that period-to-date gas production from Joint Ventures, JVs; Production Sharing Contracts, PSCs, and Nigerian Petroleum Development Company, NPDC, contributed about 68.18%, 20.12% and 11.70% respectively to the total national gas production.
In terms of natural gas off take, commercialisation and utilisation, out of the 208.96bcf of gas supplied in October 2020, a total of 118.40bcf of gas was commercialised, consisting of 38.07bcf and 88.90bcf for the domestic and export market respectively.
This translates to a total supply of 1,269.03mmscfd of gas to the domestic market and 2,870.57mmscfd of gas supplied to the export market for the month.
The NNPC, also in the report, disclosed that its downstream subsidiary, the Pipelines and Products Marketing Company, PPMC, recorded a total of ₦158.04 billion from the sales of the white products in the month of October 2020, representing 92 percent increase over the ₦80.15 billion sales in September 2020.
This 63rd edition of the MFOR highlights NNPC’s activities for the period of October 2019 to October 2020.
In line with the corporation’s commitment of becoming more accountable, transparent and driven by performance excellence, NNPC has continued to sustain effective communication with stakeholders through this report via publications on its website and in national dailies.
SOURCE: sweetcrudereports.com