NNPCL flares all of its gas output in September, making no money.
Nigerian National Petroleum Company Ltd, the country’s state oil company, flared 100% of its gas output in September and received no money from it during this time, despite the federal government’s policy on gas monetisation and its commitment to the United Nations to achieve net zero emissions by 2060.
According to the report, 10 billion SCF of gas was flared in the month of August, compared to 8 billion SCF in the month under review, or 5% of the total gas output for the month. He declared, “NNPCL should be punished in accordance with the law.”
Further examination of the report revealed that the nation’s oil and gas companies’ combined output of gas increased by roughly 2 percent.
The corporation noted that 140 BSCF of gas, representing 94 per cent of the total gas output, was utilised in the month under review, compared with 136 BSCF, representing 93 per cent of total gas, produced in August 2022.