19 October 2014, Sweetcrude, Lagos – Nigeria recorded an income of $7.192 billion, about N1.151 trillion from crude oil and condensates for both export and domestic consumption in the month of June 2014.
Particularly, data obtained from the website of the Nigerian National Corporation, NNPC, said total crude oil and condensates lifting for both domestic and export in 2013, was about 65.38 million barrels.
The report disclosed that oil companies lifted about 39.14 million barrels, representing 59.87 per cent of the total, while NNPC lifted 26.23 million barrels, representing 40.13 per cent of the total.
The NNPC said, “Lifting by fiscal regime shows 31.83, 25.47, and 8.08 million barrels for Joint Venture Companies (JVC), Production Sharing Companies/Sharing Companies (PSC/SC, and others respectively.
“Out of NNPC’s total lifting of 26.23 million barrels, 20.88 million barrels was for Federation Account. This includes, Federal Inland Revenue Service (FIRS), Department of Petroleum Resources (DPR), Pipeline Products Marketing Company (PPMC) Offshore, PPMC Crude Exchange & Modified Carry Agreement (MCA) while 5.35 million barrels was for domestic use.
Alternative Funding lifting was about 7.38 million barrels. NNPC lifted 4.22 million barrels, representing 57 per cent while JVC companies — Mobil, Total Exploration and Production and Chevron — lifted 3.15 million barrels, representing 43 per cent.
Alternative Funding lifting’s by Companies are part of the JVCs export while that of NNPC is included in the Federation account lifting.
Also, data from the NNPC disclosed that the country lost $1.705 billion, approximately N272.8 billion, following the flaring of 409.311 billion Standard Cubic Feet (SCF) of gas by oil and gas firms between January and December 2013.
The NNPC said oil and gas firms produced 2.325 trillion SCF of gas in the 2013, utilised 1.917 trillion SCF and flared 409.311 billion SCF, representing 17.6 per cent of the total gas produced.
Shell Petroleum Development Company, SPDC, recorded the highest gas production in 2013, with 599.4 billion SCF of gas; followed by Mobil, with gas production of 442.28 billion SCF, while Nigerian Agip Oil Company Plc produced 317.176 billion SCF of gas.
Chevron produced 238.51 billion SCF of gas; Total Exploration and Production Company produced 212.99 billion SCF of gas, while Esso Exploration and Production Nigeria Limited produced 112.227 billion SCF.
Also, Star Deep Water Petroleum produced 93.07 billion SCF, followed by South Atlantic Petroleum with a gas production of 80.5 billion SCF; Nigerian Petroleum development Company, NPDC, produced 63.63 billion SCF, while Addax Petroleum produced 46.212 billion SCF.
The Service Contract sector, comprising only Agip Energy and Natural Resources Limited, AENR, was the worst offender in the month under review, flaring 99.54 per cent of its total gas production.
Specifically, AENR produced 2.518 billion SCF of gas, utilised 11.6 million SCF and flared 2.507 billion SCF.
Sole Risks/Independent oil companies followed, flaring 86.72 per cent of their total gas production, with 108.749 billion SCF of gas produced; utilising 14.435 billion SCF, flaring 94.314 billion SCF of gas.
Marginal fields’ operators produced 12.155 billion SCGF of gas, utilised 2.821 billion SCF and flared 9.335 billion SCF, representing 76.8 per cent of the total gas produced in the sector.
Production Sharing Contract companies produced 385.9 billion SCF, utilized 317.175 billion SCF and flared 68.716 billion SCF, representing 17.81 per cent of their total gas production, while Joint Venture companies produced 1.816 trillion SCF, utilized 1.582 trillion SCF and flared 234.441 billion SCF, representing 12 per cent of total production in the sector.