Nigeria’s Oil and Gas Companies Flare 92.3 Million Cubic Feet of Gas Worth N150.8 Billion in Four Months – NOSDRA Report
According to a recent report by the National Oil Spill Detection and Response Agency (NOSDRA), oil and gas companies operating in Nigeria flared an astounding 92.3 million standard cubic feet of gas (mscf) between January and April 2023. This amount is estimated to be worth N150.8 billion.
The figure represents a significant 79.5% increase compared to the 50.3 mscf of gas flared in 2022. As a result of this alarming trend, the responsible oil-producing firms are expected to face penalties of $184.6 million (equivalent to N85.7 billion) for violating gas flaring regulations during this four-month period.
The report also highlights the environmental impact of this excessive gas flaring, noting that the volume of gas flared is equivalent to 4.9 million tonnes of carbon dioxide emissions. Furthermore, it reveals that the flared gas could have generated a substantial 9,200 gigawatts of electricity per hour.
Analyzing the data on a monthly basis, the report reveals that in January, February, March, and April, 23.2 mscf, 27.1 mscf, 25.9 mscf, and 16.1 mscf of gas were flared, respectively.
Also read: https://inschoolboard.com/singer-mercy-chinwo-will-charge-n10m-if-invited-to-sing-fr-oluoma-speak/