By Michael Eboh
Gas flaring by some oil and gas companies operating in Nigeria, cost the country $25.66 million, an equivalent of N9.24 billion, in one month, as they flared 7.33 billion standard cubic feet, SCF, of gas in the month of May, according to data obtained Monday, from the Nigerian National Petroleum Corporation, NNPC.
The companies, according to the NNPC, are Shell Nigeria, ExxonMobil, Nigerian Agip Oil Company, NAOC and Production and Total Exploration and Production Nigeria, TEPNG, among others.
The Gas Production and Utilisation Data for May 2020 obtained from the NNPC, revealed that the joint venture companies flared the most quantity of gas in the month under review, noting that combined, they produced 138.95 billion SCF and flared 7.33 billion SCF, representing 5.27 percent of their total production.
In general, the NNPC report disclosed that of the 211.96 billion SCF of gas produced in May, 11 billion SCF was utilised, while 11.851 billion SCF was flared. This meant that gas worth $41.48 million was flared in May, an equivalent of N14.93 billion.
According to the report, these companies accounted for 65.56 percent of the 211.96 billion SCF of gas produced in the Nigerian petroleum industry in May, while they also accounted for 61.86 percent of the 11.85 billion SCF of gas flared in the entire country in the month under review.
Total flared 5.6 percent of the 21.026 billion SCF of gas it produced in the month under review; while Mobil, NAOC and Shell flared 4.65 percent, 4.16 percent and 4.02 percent of the 31.94 billion SCF, 30.37 billion SCF and 53.897 billion SCF of gas they produced in the month.