History of oil and gas in nigeria pdf files

Since oil operations began, 546 million gallons of oil have spilled into nigerias niger delta. Examples like nigeria show how oil can hurt an economy and undermine a countrys strife for democracy. Connectivity has shown the potential to empower millions of people, while providing businesses with unparalleled opportunities for value creation and capture. According to the oil and gas journal, nigeria had an estimated 37. Pdf origin and occurrence of crude oil in the niger.

Laws of the federation of nigeria petroleum act 1990. Crude oil was first discovered in commercial quantities in nigeria in 1956, while actual production started in 1958. The sharp decline in oil prices beginning in 2014 posed major. Introduction multinational corporations mnc, especially those involved with the oil and gas sector, have carried out business in the niger delta region of nigeria for decades. Nigerian oil and gas industry lcd policy is to gain a better understanding of the stakeholders involved and, in particular, the extent of the actual involvement in policy making and implementation of nonstate actors in such process.

Oil exploration and exploitation in nigeria have evolved through a long history. Nigeria joined the ranks of oil producers in 1958 when its first oil field came on stream producing 5,100 bpd. Insights from new company disclosures analyzing nigerias oil and gas sector ptg reports provide citizens with unprecedented levels of relevant and timely projectlevel payment data that can be used to inform public debate on the management of nigerias natural resources. Nigerian oil and gas industry content development act, 2010 the act provides a comprehensive legal framework for local content synopsis a local content policy was issued in the early 2000s and is the basis for the act. Hyprops nigeria limited corporatepresentation march2018. The history of oil exploration in nigeria dates back to 1903 when nigerian bitumen. Oil exploration licences, oil prospecting licences and oil mining leases 3. Since the first oil price shock in 1974, oil has annually produced over 90 percent of nigerias export income. Nigerias proven oil reserves are estimated to be 35 billion barrels, natural gas reserves are trillion feet and her crude oil production is around 2. The paradox of the black gold article pdf available in research in social problems and public policy 18.

Transport ships will collect the oil from the fpso every 7 to 10 days and ship it to worldwide refineries. The african banks, chiefly nigerian and south african, are also playing an increasing role. In the light of this, the paper appraises the implications of oil exploration and. Akinbuwa 2008 paradoxically, the niger delta remains the poorest region as earlier stated, due to the ecologically unfriendly exploitation of. This study examines the history, current strategies and future prospects of the nigerian. However, none of these products would exist without the. Pdf petroleum exploration and production in the nigerias niger delta region and export of oil and gas resources by the. The west african offshore oil and gas industry has a history of exploration of more than 50 years, with international majors and smaller firms having held, and relinquished, licences all along the. As a member of opec, nigerias oil productionfluctuates in line with the cartels response to world oil supply. Oil and gas resources account for over 85% of nigerias gross domestic product gdp, over 95% of the national budget and over 80% of the nations wealth. The changing role of natural gas in nigeria econstor. Evidence of corruption and the influence of social norms. Oil is used to power our vehicles, to create medicines that keep us healthy, and to make the plastics, cosmetics, and other personal products that enhance our daily lives.

Thats the equivalent of an exxon valdez disaster happening every year for nearly 50 years. The majority of reserves are found along the countrys niger river delta and offshore in the bight of benin, the gulf of guinea, and the bight of bonny. In section 4, implications of oil and gas sector reform for economic development are presented. Oil and gas resources in the federal republic of nigeria wumi iledare1 and rotimi suberu2 1. The literature on corruption in nigeria nigeria is the most populous country in africa and a very important oil producer. Major events in the history of the nigerian oil and gas. Nigerian content policy in the oil and gas industry. Our founders and directors enjoy an unrivalled influence in. Petroleum geology is the study of the origin, occurrence, movement, accumulation and exploration of hydrocarbon fuels. Nigeria has been described as a gas province with a little bit of oil. Nigeria energy data, statistics and analysis oil, gas.

Findings in spite of the large profits made by oil companies operating in the niger delta. Current daily production is typically limited by opec quota reductions. Overview nigeria, with an estimated population of 140 million, ranks among the top 10 nations in proved oil and natural gas reserves. Framework paperi oil and gas resources in the federal.

Though predominantly on oil and gas law, this is nonetheless a veritable reference book on the oil and gas industry in nigeria. Oil and gas industry 3 contents foreword digital transformation is emerging as a driver of sweeping change in the world around us. Documents in econstor may be saved and copied for your. Nigerias total petroleum refining capacity is 445,000 barrels per day 70,700 md. Gabrich global is pleased to bring to you the history of the nigerian petroleum industry this week. Our affiliates are involved in the exploration and production of crude oil and natural gas, and operate several joint venture concessions and deepwater production sharing contracts which. Osai gives us insights about the oil and gas sector of. Odularu 2008 also reported that in the year 2000, crude oil and gas accounted for more than 98% of nigerias export and about 83% of federal government revenue.

Natural gas, petroleum, tin1 total natural resource rents as % of gdp 2015. The discovery was made by shellbp, at the time the sole concessionaire. For years it has been struggling to decrease unemployment, income inequality and its dependence on oil. A policy outlook for energy security and sustainable development. To gain a clearer understanding of the various players in the oil market, it is helpful to make an initial. The nigerian economy before the discovery of crude oil. The most controversial spills come from pipeline blasts. Baker iii institute for public policy, rice university. History of the nigerian petroleum industry oil was discovered in nigeria in 1956 at oloibiri in the niger delta after half a century of exploration. However, they have left trail of woes in their path with so much damage to the ecosystem and problems to human life in the exploration region. The national elections held in 2015 marked the first time in nigerias history that it saw a peaceful transfer of power. Nigeria directory plans to list all nigerian businesses and organisations. However, evidence from leaked us state department documents have proven that.

Paradoxically, ghanas hailed oil discoveries have the potential of causing major economic crisis. Section 5 concludes the paper with recommendations. It is estimated that nigeria has proven oil reserves totaling 35. Public regulation of the oil and gas industry in nigeria.

Public regulation of the oil and gas industry in nigeria ggu law. Nigerian oil and gas industry local content development. The majority of nigerias natural gas is flared off and it is estimated that nigeria loses 18. White paper digital transformation initiative oil and gas. Eghosa osa ekhator abstract nigeria operates a command and control regulatory framework in the oil and gas sector. National participation in the nigeria oil and gas industry. While the focus of this paper is to be the international integrated oil and gas companies operating in the us, it is important to recognize the broader context of the market. This is the region that is responsible for more than 95% of the oil and gas assets. Historical and sectoral overview of the nigerian oil industry. Over the past two decades, at least a dozen pipeline disasters have killed thousands in nigeria.

Exxonmobil upstream affiliates operating in nigeria are mobil producing nigeria unlimited mpn and esso exploration and production nigeria ltd. The crisis has also encouraged more cooperation among different types of oil companies. The nigerian national petroleum corporation and the development of the nigerian oil and gas industry. The northern part of nigeria has joined the league of oilproducing regions, as the nigerian national petroleum corporation, nnpc, friday, announced that it has discovered crude oil, gas and. The oil market can only be understood as international in scope. Origin and occurrence of crude oil in the niger delta, nigeria article pdf available in journal of petroleum science and engineering 612. Most of these byproducts will be pumped back through the injection wells.

Oil was discovered in nigeria in 1956 at oloibiri in the niger delta after half a century of. The adverse impacts of oil pollution on the environment and wellbeing of a local indigenous community. The nigerian economy and the oil and gas industry the nigerian oil and gas sector plays a very dominant role in the nations economy with over 90 per cent of the nations foreign exchange earnings coming from the sale of crude oil. Nigeria is the largest oil and gas producer in africa. Oil revenues account for about 95% of nigerias foreign exchange earnings. Piper alpha piper alpha is considered one of the worst offshore oil disasters in history. Oil exploration and production in africa since 2014. The experience of the ogoni people of nigeria paper by legborsi saro pyagbara movement for the survival of the ogoni people mosop of nigeria introduction crude oil has had profound impact on the world civilization than any single natural resource in. The role of oil and gas in nigerias economy and governance it would be difficult to exaggerate the role of oil in the nigerian economy. The oil platform accounted for roughly 10 percent of the north seas oil and gas production. The oil majors view any compulsory acquisition of portions of their omls as an act of expropriation and in breach of the terms under which the leases were granted. Nigeria is africas most populous, resource rich country with a.