(4 minutes read)
· The Nigerian National Petroleum Corporation (NNPC) in May recorded s drop in the oil pilferages by suspected thieves.
· The drop estimated at 43% indicates that the willful damage of its oil pipeline infrastructure by anti-social elements have come down significantly
· The check on vandalism has given financial gains to the company
The Nigerian National Petroleum Corporation (NNPC) in May recorded a drop in the oil pilferages by suspected thieves. The drop estimated at 43% indicates that the willful damage of its oil pipeline infrastructure by anti-social elements have come down significantly.
According to the report released by NNPC only 37 pipeline points were vandalized by miscreants. In April this year, points vandalized were 65, indicating a sharp fall in numbers. The vandalized points have come down mostly with the assistance of the local communities and other stakeholders. The company is making every effort to eliminate the pilferages by increasingly motivating the local community how such losses would beef up national losses.
The check on vandalism has given financial gains to the company. In the gas sector, the natural gas production in May 2020 increased by 2.38% at 226.51 billion cubic feet, compared to the output in April. The average daily natural gas supply to gas power plants increased by 5.87% to 834 mmscfd, which is equivalent to power generation of 3128 MW.
The group’s operating revenue increased by 15.33% or N31.68 billion to peak at N238.33 billion. The expenditure for the month came down by 0.76% or N1.81 billion at N235.66 billion.
