By Thompson ABISOLA
The Nigerian National Petroleum Corporation (NNPC) said it has recorded a 48.21 per cent reduction in the rate of pipeline vandalism in the month of April 2018.
The corporation disclosed this in its monthly Financial Report, released in Abuja, on Thursday. It said vandalism fell to 166 from 224 vandalised points in the previous month.
According to the report, the Aba-Enugu pipeline segment accounted for 78 vandalised points, representing 84.78 per cent of total vandalized points on the nation’s network of products pipelines.
The report, which is the 33rd edition since NNPC commenced the monthly publication was part of efforts to instill a culture of transparency and keep stakeholders and the general public informed of its activities.
It noted that the NNPC had consolidated on its operational performance with a trading surplus of ₦17.16 billion in the month under review.
The report noted that the surplus indicated a ₦5.43 billion improvement representing 46.29 per cent on the trading surplus recorded in the previous month of March, 2018.
“The trading surplus was achieved through a combined higher performance by the upstream, midstream (refineries) and downstream sectors as well as a reduction in Corporate Headquarters’ operational expenditure.
“This enhanced performance is attributable to robust revenues from sales of crude oil and petroleum products by NPDC and PPMC as well as the upsurge in refineries’ performance, particularly in the Port Harcourt Refining Company (PHRC)”, the report said.
On the gas production and supply front, the report indicated that the average daily production for April stood at 8,054.46 billion cubic feet (bcf), out of which an average of 835.27 million metric standard cubic feet (mmscf), equivalent of 3,283 megawatts of electricity, was supplied to the power sector daily during the period under review.
“The result when compared with that of April, 2017, implies an increase of 496mw of power generated relative to same period last year,” it added.
It further showed that in the period under review, a total of 1.61 billion litres of Premium Motor Spirit (petrol) was supplied by NNPC in furtherance of the zero fuel queue policy of the Federal Government.
