Saturday, May 18, 2024
spot_imgspot_imgspot_imgspot_img
HomeBusinessNigeria loses N150bn to gas flaring – NOSDRA

Nigeria loses N150bn to gas flaring – NOSDRA

Oil and gas companies operating in Nigeria flared 92.3 million standard cubic feet of gas, mscf, worth an estimated N150.8 billion, between January and April 2023.

The figure was contained in a recent National Oil Spill Detection and Response Agency (NOSDRA) report.

ALSO READ; Download the Procyon Radio & TV App

It represents a 79.5 per cent increase against 50.3mscf of gas flared in 2022 in Nigeria.

Consequently, the oil-producing firms responsible for this flaring are expected to pay penalties of $184.6 million (an equivalent of N85.7 billion) for breaching the gas flaring laws in the four months.

The report also noted that the volume of gas flared in the four months is equivalent to 4.9 million tonnes of carbon dioxide emission and has a power generation potential of 9,200 gigawatts of electricity per hour.

On a month-on-month basis, the report noted that in January, February, March and April, 23.2 mscf, 27.1 mscf, 25.9 mscf and 16.1 mscf of gas were flared in Nigeria, respectively.

culled from Daily Post

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

sildenafil generic australia on Abandoned IDP Camp Discovered In Kaduna
Daniel Grace on WORLD DOWN SYNDROME DAY
Danjuma Saddiq on THE CONSPIRACY IN SOKOTO
Yakkon Damaryam on The War against Glaucoma
Shehu Danbaki on IMG-20181125-WA0070
Seth Yamusa on Hon Danjuma Peter Averik
Ibraheem Awowole on MEET OUR PATHFINDER FOR OSUN 2018
Amb. Hoom'Suk. on Sarauniya Beauty Pageant 2017