The Nigerian National Petroleum Corporation (NNPC) Monthly Financial and Operations Report for August reveals that The Gas flare rate in Nigeria now stands at 12.00 percent.
The monthly report which was released today in Abuja said that the 12.00 per cent gas flare rate which translates to 919.73mmscfd was at August 2017 compared to 10.03 per cent for the preceding month of July 2017.
Nigeria was among countries with highest gas flare rates, but a number of Clean Development Mechanism (CDM) projects aimed at appropriate gas utilization have improved the country’s standing in this the regard.
The report gave an average gas flare rate of 10.15 per cent, which is 734.56mmscfd, for the period August 2016 to August 2017.
The monthly report also showed that despite enormous challenges facing the downstream sub-sector of the Petroleum Industry, the NNPC has continued to maintain adequate products supply nationwide.
It attributed the success story to strategic interventions by the Corporation in respect of Automotive Gas Oil (AGO) supply, revamp and re-commissioning of critical pipelines and depots across the country, as well as robust engagement with critical Downstream stakeholders, among which are Major Oil Marketers Association of Nigeria, (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers Association of Nigeria (PTDAN) as well as the Independent Petroleum Marketers (IPMAN).
The August 2017 NNPC Financial and Operations Report is the 25th edition of the series.