Nigeria FG Sanctions Oil and Gas Companies N127bn for Oil Pollution.

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In order to penalize oil and gas companies operating in the nation for gas flaring, the Federal Government levied a $294 million punishment on them. According to The National Oil Spill Detection and Response Agency, NOSDRA, this is gas flared between January and August 2022.

The EPA reported that during the review period, flares totalled 147billion standard cubic feet at a cost of N222 billion. The amount of gas flared at that time was 13% less than the 169 billion SCF of gas; valued over N255 billion, that was flared during that same time in 2021.

According to NOSDRA, the quantity of gas released in 2022 was equal to 8 million pounds of carbon dioxide emissions. In contrast, the 168. 9 billion SCF of gas flared in the same period in 2021 resulted in fines of about N146 billion; despite the fact that it was capable of producing 16,900 gigawatt hours of power; and was comparable to 9 million tonnes of carbon dioxide emissions.

In particular, the NOSDRA claimed that businesses operating offshore flared 11 billion SCF, 13 billion SCF, 6 billion SCF, and 15 billion SCF of gas in each of the months of January, February, March, and April 2022.

Punch.

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