Abuja - Gas flaring has caused the nation to lose a total of N99 billion in monetary terms in the last six months, Businessday reports.
According to the Nigerian National Petroleum Corporation (NNPC) in its quarterly petroleum information bulletin, the nation flared 222.8 million standard cubic feet (mscf) of gas, during the period under review.
A breakdown of the report showed that Chevron, ExxonMobil and Shell, accounted for 67 percent of total gas flared in the first six months of year 2012. This is equivalent to N67 billion ($424) in monetary terms, using the current international price of $2.83.
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