NNPC recduced cash call arrears owed to IOCs

The Nigerian National Petroleum Corporation says it has reduced cash call arrears owed to international oil companies , its Joint Venture partners , by $ 1 . 5 bn .

The corporation has cash call arrears of $ 5 . 1 bn .

Group Managing Director of NNPC , Dr Maikanti Baru , said this at the 12 th National Conference of the Nigerian Association for Energy Economics /International Association for Energy Economics , in Abuja on Monday .

He also disclosed that 783 million Standard Cubic Feet of gas per day was flared in 2018.

Baru said that 2018 marked the second year without the corporation incurring any cash call arrears .

Baru said , “ So far, we have repaid over $ 1 . 5 bn out of the $ 5 . 1 bn cash call arrears to date , a development that has not only restored the confidence of international oil companies , IOC , JV partners , but has also led to improved reserves growth and crude oil production .

“ It was quite fulfilling that in 2018 , that is for the second year in a row , we concluded the fiscal year without any cash call arrears . ”

He said that the average of 783 million SCF of gas per day was flared in 2018 was 2 . 9 per cent higher than 761 mmscfd supplied to the power sector within the same period .

According to him , in 2018 the national average daily gas production stood at 7 . 90bn Standard Cubic Feet , representing an increase of three per cent above 2017 average daily gas production of 7 . 67bn SCF.

He said , “ Of the 7 . 9 bn SCF per day produced in 2018 , an average of 3 . 32bn SCF per day (42 per cent ) was supplied to the export market , 2 . 5 bn SCF per day (32 per cent ) for re -injection/ fuel gas, 1 . 3 bn SCF per day (16 per cent ) was supplied to the domestic market and about 783 million SCF per day (10 per cent ) was flared .

“ Domestic gas supply capacity was marginally stable at about 1700 million SCF per day , with an average of 1 . 3 bn SCF per day actually supplied to the domestic market .

This is due to power evacuation challenges resulting from frequency management caused by rejection of allocated load by distribution companies as well as transmission line constraints .

“However , of the 1 . 3 bn SCF per day supplied to the domestic market , an average of 761 m SCF per day was supplied to the power sector while 470 million SCF per day was supplied to the industries and the balance of 69m SCF per day was delivered to the West African Market through the West African Gas Pipeline . ”

He added that the automation of its crude oil marketing operations had helped remove the opacity in the management and sale of Nigeria ’ s crude oil grades .

414 thoughts on “NNPC recduced cash call arrears owed to IOCs

  1. chloroquine tablets amazon
    [url=https://chloroquineorigin.com/#]chloroquine diphosphate[/url]
    is erectile dysfunction a disease
    [url=https://erectiledysfunctionsxag.com/#]fix erectile dysfunction without drugs[/url]
    erectile function paralysis
    [url=https://plaquenilx.com/#]plaquenil alcohol[/url]
    tadalafil softsules tuf 20
    [url=https://tadalisxs.com/#]buy tadalafil us[/url]
    [url=https://zithromaxes.com/#]generic zithromax azithromycin[/url]

  2. There are definitely a whole lot of particulars like that to take into consideration. That could be a great level to convey up. I provide the thoughts above as basic inspiration however clearly there are questions like the one you convey up the place a very powerful thing will probably be working in trustworthy good faith. I don?t know if finest practices have emerged around things like that, but I am sure that your job is clearly recognized as a fair game. Each boys and girls really feel the influence of only a secondís pleasure, for the rest of their lives.

  3. We discovered your weblog on the internet and appearance some of the earlier articles. Preserve in the superb run. I simply extra up your Feed in order to my MSN Information Reader. Seeking forward to studying further from you afterwards!?-

  4. I must point out my love for your kindness giving support to those people who need help on in this idea. Your real dedication to passing the solution up and down has been amazingly significant and has continuously made professionals just like me to attain their ambitions. Your entire warm and helpful facts can mean much to me and further more to my mates. Regards; from each one of us.

  5. Hey, you used to write great, but the last several posts have been kinda boring… I miss your great writings. Past several posts are just a little bit out of track! come on!

  6. Thanks for a marvelous posting! I certainly enjoyed reading it, you can be a great author.I will ensure that I bookmark your blog and will eventually come back someday. I want to encourage you to definitely continue your great writing, have a nice day!

Leave a Reply to dimplex marana Birmingham, MI website here Cancel reply

Your email address will not be published. Required fields are marked *

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/loudspea/public_html/wp-includes/functions.php on line 5107