The Nigerian National Petroleum Corporation (NNPC) has disclosed that it recorded 43 per cent drop in cases of vandalism and damage of its oil pipeline infrastructure by suspected oil thieves across the country in May, 2020.
It explained that the development meant that 37 pipeline points were vandalized representing about 43 per cent decrease during the period under review as against the the 65 points recorded in April 2020.
The NNPC Group Public Affairs General Manager, Dr. Kennie Obateru, said that despite the drops in vandalism set-backs, plans had been put in place to curb future incidences with aim to secure the corporation’s assets across the nation.
Obateru, through a statement released newsmen which contained report of the May 2020 version of the NNPC Monthly Financial and Operations Report (MFOR), said that the encouraging 43 per cent drop in cases of willful damage of its oil pipeline infrastructure showed the corporation’s commitment in protecting the nation’s asset for efficient service delivery.
“A breakdown showed that Mosimi-Ibadan pipeline axis accounted for 38 per cent of the vandalized points while Atlas Cove—Mosimi axis recorded 19 per cent of the breaks. Suleja-Kaduna logged 16 per cent of the breaks, while other locations make up for the remaining 27 per cent.
“In collaboration with the local communities and other stakeholders, the corporation would continuously strive to bring the malaise under control,” the statement read.
Also, the report revealed that the corporation had continued to monitor the daily stock of Premium Motor Spirit (PMS), otherwise called petrol, to achieve smooth distribution of the products and ensure zero fuel queue across the nation.
It added that 950.67million litres of white products were sold and distributed by the corporation’s Downstream subsidiary, the Petroleum Products Marketing Company (PPMC) in May, 2020, stressing that the sale comprised 950.67million litres of PMS only with no Automotive Gas Oil (AGO) or Dual Purpose Kerosene (DPK), adding that there was no sale of special product in the month.
“Total sale of white products for the period May 2019 to May 2020 stood at 19,865.80million litres and PMS accounted for 19,704.49million litres or 99.19 per cent. ₦92.58billion was made on the sale of white products by PPMC in May 2020.
“Total revenue generated from the sales of white products for the period May 2019 to May 2020 stood at ₦2,393.88billion, where PMS contributed about 98.84 per cent of the total sales with a value of ₦2,366.15billion.
“In the gas sector, natural gas production in May 2020 increased by 2.38 per cent at 226.51Billion Cubic Feet (BCF) compared to output in April 2020; translating to an average daily production of 7,480.36million Standard Cubic Feet of gas per day (mmscfd). Likewise, the daily average natural gas supply to gas power plants increased by 5.87 per cent to 834mmscfd, equivalent to power generation of 3,128MW,”
The report revealed that recorded 15.33 per cent or N31.68billion to stand at N238.33billion increase in operating revenue while expenditure for the month decreased by 0.76 per cent or N1.81Billion, to stand at N235.66billion as against the one recorded in April.
The May 2020 report also indicated a trading surplus of ₦2.68billion compared to the ₦30.81billion deficit posted in April 2020 when the effect of COVID-19 was at the peak, leading to reduced demand with fluctuating prices.