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Nigeria Loses N32bn To Gas Flaring In One Month

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Nigeria lost $198.775 million, about N31.8 billion, in one month to gas flaring, as companies in the oil and gas sector flared 50.098 billion Standard Cubic Feet (SCF) of gas in February 2014.

The United States Energy Information Administration, EIA, put the price of natural gas in the international market at $3.89 per million British thermal unit, BTU, of gas. One SCF of gas is equal to 1,020 BTU of gas.

According to recently released data by the Nigerian National Petroleum Corporation, NNPC, on activities in the Nigerian petroleum sector in the month of February, the amount of gas flared is about 23.2 per cent of the total gas produced in the period.

According to the NNPC, total gas produced in the period was 215.93 billion SCF, dropping by 5.19 per cent or 11.81 billion SCF from 227.74 billion recorded in January 2014.

Of the total amount of gas produced, only 165.83 billion SCF of gas was utilised, representing 76.8 per cent of the total amount of gas produced.

Sole Risks/Independent oil companies were the worst offenders, flaring 87.25 per cent of their total gas production.

Specifically, Sole risks/Independents oil companies produced 17.42 billion SCF of gas, utilised 2.22 billion SCF and flared 15.2 billion SCF.

Marginal fields’ operators followed, flaring 55.49 per cent or 1.066 billion SCF of their total gas production of 1.92 billion SCF.

Production Sharing Companies, PSC, flared 22.79 per cent or 9.477 billion SCF of gas from their total production of 41.58 billion SCF, while Joint Venture, JV, operators produced 155.01 billion SCF of gas, utilised 130.65 billion SCF and flared 24.36 billion SCF of gas, representing 15.71 per cent of the total.

Six companies – Seplat, First Hydrocarbon, ND Western, Express Petroleum, Energia, and Midwestern Oil and Gas flared 100 per cent of the gas they produced, while Dubri Oil, Platform Petroleum, and Pillar Oil flared 98.76 per cent, 96.8 per cent and 88.97 per cent respectively, of their total gas production.

In General, the NNPC further stated that only Shell Petroleum Development Company, SPDC, Mobil Producing Nigeria, MPN, and Addax Petroleum carried out exploration/drilling activities during the month under review, stating that the operation was carried out on eight wells.

Continuing, it stated, “Terminal (fiscalised) production total for the month was about 63.86 million barrels representing 2.28 million barrels per day, and lower by 10.19 per cent of January 2014 production of 71.11 million barrels or 2.29 million barrels per day.

“Total crude oil and condensates lifting for both domestic and export were about 69.57 million barrels. Oil companies lifted about 38.78 million barrels, representing 51.79 per cent, while NNPC lifted 30.79 million barrels, representing 48.21 per cent.

“Lifting by fiscal regime shows 33.73 million, 26.20 million, and 9.6 million barrels for JVC, PSC/SC, and others respectively. Out of NNPC’s liftings, 24.15 million barrels was for Federation Account, while 5.70 million barrels was for domestic use.

“The total Natural Gas Liquid, NGL, produced for the month of February 2014 was 118,096MT out of which Mobil had about 51 per cent or 60,228MT and NNPC 49 per cent or 57,868MT. A total of 109,209MT was lifted for the month.” [Vanguard]

Metro News

Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff

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 Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff

Ondo on map

Kidnappers on Friday abducted the wife of Olugbenga Ale, Chief of Staff to Ondo State Governor, Rotimi Akeredolu.

According to reports, she was kidnapped around Owena after the Joseph Ayo Babalola University while on her way back to Ondo from Lagos State.

Also Read: Unknown Gunmen Kill Ondo Traditional Ruler, Olufon Of Ifon

The police spokesman in the state, ASP Tee-Leo Ikoro, confirmed the news to Channels Television on Friday.

This development is coming about twenty-four hours after a first-class traditional ruler in Ondo State, the Olufon of Ifon in Ose local government, Oba Isreal Adeusi, was murdered by suspected kidnappers.

 

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TECNO Stormed Computer Village with BBNaija’s OZO to Wrap up its Black Friday Sales Activities

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The month of November is always known for its intense sales activities because the best deals of the year come
during the Black Friday Period. For TECNO, Africa Number One mobile brand, it was the time to reward its
customers with massive discounts and various gift items while also unveiling some of its new devices.

The brand in collaboration with SLOT stormed computer village as part of the events to wrap up its black Friday
sale activities, hosted BBNaija’s Ozoemena Chukwu to a hangout at SLOT Ikeja.

Fans and customers had a fun time interacting with the handsome celebrity while enjoying discount offers on
TECNO devices. Different deals and gift items were up for grabs as customers who made purchases at the store
enjoyed 50% discounts on Spark 5, Camon 16 Series and 100% cashback on the Spark 5 Pro.

The major highlight of the event was the presentation prizes to lucky winners. Customers who participated in
the spin the wheel game won gifts items such as Bluetooth Speaker; Power Bank and kettle while those who
participated in the Scratch and Win Promo won for themselves different deals ranging from 50% to 100%
cashback.

TECNO also introduced two latest devices-the Spark GO 2020-powered by Google Android 10 Go Edition and a
TECNO POVA. POVA means ‘Powering Optimal Value and Ambitions’ is a rebrand of the popular battery series
formerly known as Pouvoir was inspired by the zeal to deliver budget-friendly smartphones with superior
gaming experience.

The first of its kind 6.8-inch TECNO POVA, is powered by Mediatek Helio G80 octa-core processor and hyper-
engine game technology that transforms gameplay experience giving ultimate stability and a high refresh rate.
Additionally, users will benefit from the “Game Space,” “Game Mode,” and “Game Assistant 2.0” features,
allowing them to switch to the “do not disturb” function, a much-anticipated experience all gamers will
absolutely enjoy.

The TECNO POVA is also equipped with a power-packed multitasking effect ramped up by 6GB RAM and 128GB
of internal memory. The device also has a 6000mAh super big battery, 18W Dual IC Flash charger, a standby
time of 30 days and the ability to play music for 8 days straight, on just a single charge. It’s the perfect
smartphone offering a way to worry less about low battery.

The new devices are available for purchase this November and for the rest of November, customers will enjoy
amazing discounts, instant and mega prizes on TECNO devices.

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Metro News

BREAKING: Court Jails Rep Member For Lying

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BREAKING: Court Jails Rep Member For Lying

Court

A member of the House of Representatives, Victor Mela has been sentenced to one-month imprisonment by a Magistrate Court in Wuse, Zone 6.

The lawmaker who represents Billiri/Balanga federal constituency was, however, given an option of fine.

Also Read: North Is The Worst Place To Live In Nigeria -Sultan of Sokoto

Recall that on November 10 that a magistrate court found the lawmaker guilty of lying under oath while filling the CD001 INEC form prior to the 2019 elections.

The magistrate had, however, set a different date for sentencing of the lawmaker after his lawyer pleaded for leniency.

Mr Mela swore to an affidavit thrice, denying citizenship of another country whereas he has a British passport.

 

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