Abuja — Nigeria lost $849.5 million, about N259.947 billion to gas flaring as oil and gas firms operating in the country flared 154.4 million metric Standard Cubic Feet, SCF of gas, between January and April 2019, according to data obtained from the National Oil Spill Detection and Response Agency, NOSDRA.
Giving a breakdown of the figures, NOSDRA noted that $540.6 million was the equivalent of the volume of gas flared by the oil firms, while $308.9 million was for penalties.
According to NOSDRA, the flaring occurred in 157 oil and gas producing sites across the country, adding that the 154.4 million SCF of gas flared translated to a loss of $540.6 million to the country.
Using an average exchange rate of N306 to one dollar, $540.4 million translated to an equivalent of N165.42 billion over the four months period.
The tracker further stated that for flaring the stated volume of gas the companies are liable to pay $308.9 million, an equivalent of N94.52 billion.
The tracker added that the volume of gas flared within the four months period was capable of generating 15,400 megawatts of electricity.
Furthermore, NOSDRA’s oil spill monitor indicted Shell Petroleum Development Company, SPDC, for spilling 276 barrels, about 43,000 litres of crude.
The report noted that the spill incident occurred February 19 and was reported February 20, 2019, while it disclosed that the spill arose as a result of equipment failure at the 36-inch Nkpolu-Bomu pipeline, Rumuochiolu, Eneka.
Another spill incident was also recorded by SPDC on the 20-inch Kolocreek-Rumuekpe pipeline, Odau Rivers State.
The monitor noted that 2,150 barrels, about 341,000 litres of crude oil was spilled due to sabotage and theft.
The NOSDRA oil spill monitor disclosed that the incident happened August 20, 2018, and was reported September 2, 2018.
The monitor further stated that the affected area was 20,400 square meter, while in its description of the impact, it explained that a three-inch ball valve was installed at 12’o clock position by unknown persons.
It noted that Heritage Oil recorded oil spillage of 400 barrels, about 63,000 litres of crude oil, due to sabotage at its eight-inches Oroni-Evwreni delivery line at Okpolo (Enhwe), at Isoko South Local Government Area of Delta State.
According to the report, the incident which occurred, March 18, 2019, impacted vegetation, adding that the spill was within and outside the company’s right of way.
It added that out of the 400 barrels of crude oil spilled from the delivery line, 390 barrels of oil was recovered.