Reps Begin Probe Into $2.5 Billion Annual Loss To Gas Flaring

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Green Energy International Limited, Millenium Of and Gas Company Limited, Folawiyo Energy Eroton Exploration and Production Nigeria Limited and Niger Delta Petroleum Resources LTD.

NAN reports that the Nigerian Oil Spill Detection and Response Agency (NOSDRA) said Nigeria lost N891bn to gas flaring in 18 months.

Aaccording to data from NOSDRA on Aug. 8, 2022 Nigeria lost a total of N707bn in 2021 and N184bn in the first half of 2022, totaling N891bn.

According to the NOSDRA report, oil and gas companies operating in the country flared a total of 126 billion standard cubic feet, SCF, of gas in the first half of 2022, leading to a loss of $441.2 million, (about N183.54 bn) in the six-month period.

On the other hand, the agency said, in 2021, about 23,862.271 barrels of oil (3,770,238.864 litres/119 tanker trucks) were spilled.

Giving a breakdown of the gas flared in the country in the first six months of 2022, the agency disclosed that while companies operating in the offshore oilfields flared 62.2 billion SCF of gas, companies operating onshore flared 63.9 billion SCF of gas, valued at $223.6 million.

In 2021, there were around 382 publicly available oil spill records. Out of the 382 occurrences, a total of 33 of these oil spill sites were not visited by a joint investigation team, and 122 of these had no estimated quantity of oil spilled provided by the companies involved.

Two major oil spills were recorded in 2021, with over 250 barrels spilled into inland waters, or over 2,500 barrels spilled on land, swamp, shoreline and open sea, the report said.

A total of seven medium oil spills incidents were recorded in 2021, with 25-250 barrels spilled into inland waters, or 250-2,500 barrels spilled on land, swamp, shoreline and open sea.

In terms of minor oil spills, about 239 cases were recorded as up to 25 barrels spilled into inland waters, or 250 barrels on land, swamp, shoreline and open sea.  (NAN)

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