The Minister of State for Petroleum Resources, Timiprey Sylvia has announced that Federal Government is investigating the companies that imported adulterated fuel into the country.
Answering reporters’ questions shortly after the Federal Executive Council (FEC) meeting today, February 9, at the Presidential villa, Abuja, the Minister said that the government would not rush to conclusion yet.
“I don’t expect you to rush to any conclusions. You know, there will be a major investigation to unravel everything and then let’s really get to the bottom of it before we can come back and tell you what is going to happen to the corporates.”
Asked to give the identities of those involved in the importation, the Minister refused, saying: “I will not.
“I’m not in a position to disclose the identities of the companies. But there are some issues and we are actively tackling them.
“NNPC is very much up to the task. And I will also convey your question to NNPC, and maybe the midstream and downstream regulatory authority.
“But we are actively handling it. And I want to assure you that the problem will be a thing of the past very soon.”
Sylvia said that the government is aware that some people’s vehicles got damaged as a result of the bad fuel, saying: “that is also going to be taken into consideration in dealing with the situation.”
The Minister of Aviation, Senator Had I Sirika, on his part, said that he was not aware if the adulterated fuel affects aviation industry.
“There is none to my knowledge, as of now.”
Meanwhile, the Nigerian National Petroleum Company (NNPC) Limited has announced $224.29 million profit from crude oil and gas export in August 2021 as against $191.26million in July 2021.
A statement today, February 9, by the Group General Manager, Group Public Affairs Division of the NNPC Limited, Garba Deen Muhammad said that the breakdown of the figures, captured in the August 2021 NNPC Monthly Financial and Operations Report (MFOR) indicates that export of crude oil amounted to $7.77million while gas and miscellaneous receipts stood at $65.26 million and $151.26million respectively.
He said that the total crude oil and gas export receipt for the period of August 2020 to August 2021 stood at $1.84billion.
According to Garbadeed, in the Gas Sector, a total of 233.57billion cubic feet (bcf) of natural gas was produced in the month of August 2021 translating to an average daily production of 7,534.67million standard cubic feet per day (mmscfd).
“For the period of August 2020 to August 2021, a total of 2,890.67bcf of gas was produced representing an average daily production of 7,303.61mmscfd during the period.
“Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and the Nigerian Petroleum Development Company (NPDC) contributed about 57.51%, 20.88% and 21.62% respectively to the total national gas production.
The report also indicates that out of the 208.64bcf of gas supplied in August 2021, a total of 131.35bcf was commercialized, consisting of 40.22bcf and 91.13bcf for the domestic and export markets respectively.
This translates to an average total supply of 1,297.54mmscfd to the domestic market and 2,939.31mmscfd of gas to the export market for the month.
He said that the total gas supply for the period of August 2020 to August 2021 stood at 2,792.28bcf out of which 537.51bcf and 1,245.93bcf were commercialized for the domestic and export markets respectively.
“In the Downstream Sector, a total of 1.532billion litres of white products were sold and distributed by the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, in the month of August 2021.
“A breakdown of the figure indicates that petrol accounted for 99% of total sales, while Automotive Gas Oil (AGO), also known as diesel, accounted for the rest.
“Total sale of white products for the period of August 2020 to August 2021 stood at 20.032billion with petrol accounting for 99.81%.
“In terms of value, a total sum of ₦203.43billion was made on the sale of white products by PPMC in the month of August 2021.
“Total revenues generated from the sales of white products for the period of August 2020 to August 2021 stood at ₦2.619trillion with petrol contributing about 99.76% of the total sales with a value of ₦2.613trillion.
“In August 2021, 21 pipeline points were vandalized representing 50% decrease from the 42 points recorded in July 2021.”
According to the report, Port Harcourt area accounted for 10%, while Mosimi Area accounted for 90% of the vandalized points.
The August 2021 MFOR, the 73rd in the series, highlights NNPC’s activities for the period of August 2020 to August 2021.
In line with the Company’s commitment to the principles of accountability, transparency and performance excellence, the NNPC Ltd. has continued to sustain effective communication with stakeholders through the publication of the MFOR on its website, in national dailies, and on independent online news platforms.
