The Essence of Oil Portal
What will Nigeria look like without Oil? How has such a wonderful resource turned into a curse for its people?
For decades, this resource has been mismanaged. Nigeria has plummeted in its economic strategies as it has tended towards a mono-commodity economy. The reality of the global trend of finding renewable sources of energy, stares us in the face, but we do not see it. Hence the question. What is the essence of oil?
TIMELINE OF OIL RELATED NEWS
The Essence of Oil portal is an online repository where people can easily find articles, news stories & other resources related to the petroleum industry. The timeline below allows researchers to surf titles, read short abstracts in order to quickly identify the right materials for their research, scrolling left or right along it grants you access to recorded content over the course of time since the launch of the portal.
- Advocacy
- Capacity Building
- Christopher Kolade Lecture Series
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- Consulting
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- Effect of Oil on Nigeria's Resources
- Effect of Oil on the People
- Effect of Oil on the Planet
- Elite Economics and Commonsense
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- Governance
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- Institutions and Key Organisation
- Integrity Articles
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- laws and Regulations
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- Sustainability Issues around Nigerian Oil
- The Essence of Oil
- The Petroleum Industry
- The Quest for Change and Reforms
- The Slippery Path to Oil Production in Nigeria
- The Spirit of Egunje
- The Spirit of Egunje1
- Uncategorized
Chinese Bargain Hunters Are Stocking Up On Ultra Cheap Crude Oil
Emerging from the coronavirus lockdown, China’s oil refiners are buying ultra-cheap spot cargoes from Alaska, Canada, and Brazil, taking advantage of the deep discounts at which many crude grades are being offered to China with non-existent demand elsewhere. The discounts of spot cargoes of Canada’s Cold Lake blend, Alaska North Slope, and Brazil’s Lula grades […]
$62bn Controversy: Why Nigeria could not amend contracts with IOCs — NNPC COO
NNPC Upstream COO, Bello Rabiu, explains why it has been difficult for the government to renegotiate the PSC with the IOCs.
Buhari Promises Reforms And New Policies In Oil And Gas Sector
The Nigerian President, Muhammadu Buhari, has promised that his administration will undertake appropriate reforms and implement fresh policies to boost national income from oil and gas production. Read more
National Assembly urged to review Petroleum Industry Bill
Some experts in the Nigerian oil and gas industry on Monday called on the leadership of the new National Assembly to review the Petroleum Industry Bill (PIB) passed by the 7th House of Representatives. Read more
Oil Glut: Crude Differential Hits 10-year Low
As the nagging oversupply of physical oil takes its toll, official prices for Nigerian crude have hit their lowest in at least a decade. The Nigerian National Petroleum Corp (NNPC) lowered the official selling price for its largest crude oil stream Read more
Court rejects Agip’s objection in gas plant case against Arco
A Federal High Court in Port Harcourt, Rivers State, has rejected an argument by oil firm, Agip, questioning the court’s powers to hear a gas plant maintenance contracts suit, brought by a local company, Arco. Read more
Oil Consumption to Rise to 400 000 BPD By 2023 – BMI
BUSINESS Monitor International has said the prices of oil consumption in Nigeria is expected to increase from 311 000 bpd last year to 400 000 bpd by the end of 2023. Business Monitor International risk analysis and forecasts, market research on leading industries, and multinational company research is relied upon by corporate bodies, banks, government […]
Bonga Oil Spill: Fishermen seek Buhari’s help
Some fishermen in the Niger Delta have urged president-elect Muhammadu Buhari to ensure the payment of recommended compensation to victims of Bonga oil spill when he assumes office. Read more
Nigeria Yet to Endorse New Global Initiative to End Gas Flaring by 2030
Chief executives from major oil companies and senior government officials from several oil-producing countries met in the United States of America at the weekend and demonstrated a commitment to end the practice of routine gas flaring at oil production sites globally latest by 2030. Read more
Declining Oil Price: Nigeria’s Debt Repayment Is Challenged – IMF
The International Monetary Fund (IMF) has said that the impact of the oil price fall has had a negative effect on a number of countries and also raised the risks to global financial stability. Read more
Shell sues EFCC over $1.2m debt collection
Shell Nigeria Gas Limited has asked a Federal High Court in Lagos to declare that the Economic and Financial Crimes Commission, EFCC, lacks constitutional empowerment to collect debt on behalf of anyone. Read more
Buhari’s Oil Policy To Focus First On Reform
President-elect Muhammadu Buhari plans to focus on ending corruption and reforming the Nigerian National Petroleum Corporation (NNPC) before looking into other reforms in the oil sector, it has emerged. Read more
How Merger, Acquisition Options Strengthen Nigerian Content in Oil, Gas Sector
BARELY five years after passing the Nigerian content bill into law, the indigenous oil and gas firms across the value chain may have exhibited strong commitment to the sector via several prevailing investment strategies. As many independent operators gather momentum to hold enviable stakes in the nation’s hydrocarbon wells, Read more
Poor Funding Poses Threat To NNPC’s Joint Ventures
The need to discard with the Nigerian National Petroleum Corporation, (NNPC) Joint Venture arrangement has been brought to the fore following poor funding that has threatened NNPC’s ability to meet its cash call responsibility to joint venture partners, now worsened by the significant fall in oil revenue. Read more
Nigeria earned $30.3bn from oil, gas export in 2012
The nation earned $30.3 billion from crude oil, gas sales in 2012, according to NEITI oil and gas audit report. “Nigeria earned a total of $62.9 billion from oil and gas in the year 2012. This is made up of $30.3 billion from crude oil and gas sales, $26.9 Billion from taxes, royalties, rents and […]
Dwindling Oil Revenues: PPPRA union demands introduction of fuel tax
The Petroleum Products Pricing Regulatory Agency, PPPRA, branch of the Petroleum and Natural Gas Senior Staff Association of Nigeria, has called for the adjustment of the current fuel pump price to accommodate fuel tax. Consequently, the association has proposed the adjustment of the cost component of the pricing template to accommodate a N1.50 fuel tax. […]
FG Says Oil And Gas Park Scheme Will Increase Job Creators
The Federal Government said that the implementation of Nigeria Oil and Gas Park Scheme (NOGaPS) would facilitate local manufacturing of goods for the oil and gas industry. The Head of Civil Service of the Federation, Mr Danladi Kifasi, said this on Thursday in Abuja at the 15th Nigerian Oil and Gas Conference and Exhibition. Read […]
IOCs Seek Fresh Negotiations with FG on Funding for Oil and Gas Projects
In a bid to address the shortfall in funding arising from the drop in the price of crude oil, the joint venture partners of the Nigerian National Petroleum Corporation (NNPC) have called for fresh negotiations with the federal government on the implementation of projects in the sector. Read more
Dangote Group Hopeful U.S.$9 Billion Refinery Kicks Off By 2017
A new $9 billion oil refinery producing 500,000 barrels per day being developed by Africa’s richest man, Aliko Dangote, is expected to come on stream in Nigeria by 2017, a senior Dangote Group official said yesterday. The refinery, to be located in Lagos, will cut Nigeria reliance on international markets for refined petroleum products, which […]
Nigeria: Oil Slide – Chevron U.S Asset Sales to U.S.$15 Billion
Chevron Corporation is planning to increase its asset sales by 50 percent to $15 billion and curtail new investment for the next two years after plunging oil prices squeezed cash flow for the second-biggest U.S. energy producer.
