Tag: Nigeria
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Production Losses in Nigeria
April, 2022 Nigeria’s oil sector, one of the most critical pillars of its economy, continues to struggle with significant production losses. As Africa’s largest oil producer, Nigeria’s economy is heavily reliant on its hydrocarbons industry, with oil and gas accounting for 65% of government revenue and 88% of foreign exchange earnings. However, production losses continue…
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What’s Next for Africa?
October, 2021 Africa’s oil and gas industry is on the brink of transformative growth, with an estimated $213 billion investment in 40 projects over the next five years. This investment will be funneled towards infrastructure development, increase in production capacity, and improved energy access across the continent. Countries like Nigeria, Angola, Algeria, and Mozambique are…
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Petroleum Industry Bill
July, 2021 The oil and gas industry is the backbone of revenue for Nigeria’seconomy, yet, the oil and gas reserves in Nigeria have remainedstagnant for decades, and this stagnancy has cast a dark shadow on theentire industry. Even in stagnancy, the current level of activities beingcarried out in the industry has grossly failed in retaining…
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Industry Review: Impact of Covid-19 on Oil and Gas Players
December, 2020 It is said every scar tells a tale. The novel coronavirus pandemic will undoubtedly leave lasting scars on the Nigerian oil and gas industry. Scars that will tell tales of struggle and survival, scars that will tell tales of transformation and adaptability and most importantly, scars that will tell tales of opportunities, both…
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Big Oil, Big Problems?
December, 2021 The performance and strategic directions of major international oil companies (IOCs) in Nigeria reveal a mixture of exit strategies, long-term investment plans, and asset divestments. The analysis provides insights into Chevron, ExxonMobil, Shell, TotalEnergies, and Eni’s distinct approaches within Nigeria’s oil and gas industry. Chevron has signaled a gradual exit strategy marked by…
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Nigerian Content Act: Impact on Oil and Gas Players
March, 2021 In 2018, the Egina FPSO was commended for having the highest amount of local content completed for any oil and gas project in Nigeria. One of the major concerns of the Nigerian government which led to the establishment of the Nigerian Local Content Act in 2010, was capital flight occasioned by repatriation of…