"FUEL" STRAIGHT FROM THE BARREL

"FUEL" STRAIGHT FROM THE BARREL

The unfolding spectacle in the Nigerian Oil and Gas Industry is indeed interesting. While the gladiators trade time buying blames and throw punches in all directions it is the industry and the people that  suffer. 

Take for instance the basic/standard measurements such as One Barrel of Crude Oil makes 19.5 gallons of Gasoline, which converts to 73.8 liters of petrol/gasoline, this fair and lay understanding of liquids will suffice. it is fair enough to conclude therefore, that the 445,000 barrels of crude allocated daily to NNPC will among other by-products have a total of 73.8 x 445,000 which amounts to 32.8 million litres daily of Petrol otherwise Premium Motor Spirit, 34.8 x 445,000 which comes to a total of 15.5 Million litres of Diesel, 15.52 x 445,000 summing up to 6.9 Million litres of Kerosene + jet A1. 

Against this background when the above data is logged against daily consumption of 34 Million Litres of PMS in Nigeria it leaves the nation with a deficit of about 1.2 Million litres which could be defrayed by the excess output from other products such as kerosene/jet A1, Diesel, Lubricants, etc.

These revelations were probably responsible for the recent House of Representative committee probe of the fuel subsidy regime (oil and gas industry) in Nigeria leading to the eventual adoption of 61 resolution proposed by the sub-committee as headed by Hon. Farouk Lawan. At the moment the resolutions have been submitted to the Presidency for necessary Executive actions.

Now if you were a Nigerian what would you do?