Guardian

NIGERIA’S crude oil production, including condensates decreased to 2.09 million barrels per day (bpd) in the first half of 2012, compared with the 2.14 mbd recorded in the first half of 2011.

This figure was however lower than the 2.4mpd production level earlier announced by the Nigerian National Petroleum Corporation (NNPC) during the period under review.

This was contained in the Central Bank of Nigeria (CBN) half yearly report released last week.

According to the CBN, the development was attributed to the increased vandalisation of oil pipelines and crude oil theft in the Niger Delta region.

The report puts aggregate crude oil export for the period under review at 1.64 mbd compared with 1.69 mbd recorded in the corresponding half of 2011.

Total associated gas produced during the period was estimated at 34.10 million cubic metres (MMm3), indicating an increase of 24.82 per cent from the level in the corresponding period of 2011.

CBN noted that the total volume of gas utilized was 28.08 MMm3, while total gas flared was estimated at 6.02 MMm3 indicating a decrease of 7.38 per cent from the level in the first half of 2011.

The apex bank noted that Nigeria imported  3,288.10 million litres of Premium Motor Spirit (PMS), 366.69 million litres kerosene (DPK) and 454,26 petroleum products distributed during the period under review.

It stated: “Solid minerals production increased by 27.8 per cent to 12.9 million tonnes in the first half of 2012 relative to the level in the corresponding period of 2011. Increased output of some principal minerals such as marble aggregates, limestone, clay, shale, columbite and iron ore accounted for the growth.”

On electricity generation, CBN disclosed that at 3,262.9 megawatts per hour (Mw/h), average total electricity generation rose by 14.2 per cent above the 2,800.0 Mw/h attained in the same period of 2011.

It attributed the  improvement  to the commissioning of three newly- completed power stations in Sapele, Olorunsogo and Omotosho with a combined capacity of 1,025 Mw/h.

“The completion of maintenance works in some stations and increased gas supply to the thermal plants also contributed to the increase in power generation.

“Provisional data showed that at 2,202.08 Mw/h, average total electricity consumption in the country fell by 21.4 per cent below the level in the first half of 2011”, it said.

The decline in electricity consumption was attributed to inefficiencies in transmission and distribution infrastructure, which culminated in energy loss along the transmission and distribution channels.