Articles

Growth Of Indigenous Technology In The Petroleum Sector In Nigeria

May 11, 2014

Technology can have a substantial impact on an industry’s performance. Consider the effect of genetic engineering on pharmaceuticals, of transistors on telecommunications and of plastics on metals. Identification of the commercial potential of technological developments has dramatically accelerated world-wide, and the lag between ideas, invention and commercialization has decreased. In the past ten to 12…

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Maximizing The Use Of Natural Gas In Nigeria: Prospects, Constraints and Potential Solutions

May 7, 2014

Nigeria is one of the top ten nations in the world with huge natural gas reserves. Nigeria’s gas reserves was estimated at 187 trillion standard cubic feet of gas (tscf), with current production estimated at 8.24 billion standard cubic feet of gas per day (scfd) as of 2012. This is made up of 98 tscf…

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LNG Projects: Are They Still a Reality?

May 7, 2014

The rate of development of various LNG projects, namely the Olokola LNG, Brass LNG and Nigeria LNG Train 7 projects have been a particular source of concern among various experts and stakeholders in the oil and gas industry. This piece reviews the current state of these projects which appear to have stalled over the course…

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Privatisation of Refineries: The Panacea to Nigeria’s Refining Problems?

Apr 9, 2014

Nigeria has the third largest refinery capacity in Africa. The country boasts of an installed capacity of 445,000 barrels per day (bpd) only trailing behind South Africa with 540,000 bpd and Egypt with about 774,900 bpd. Unfortunately, Nigeria with its four refineries does not produce anywhere near this installed capacity, in fact the country’s refineries…

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PHCN Assets Sale: The Arduous Journey Ahead

Jan 1, 2014

In view of the physical transfer of the privatised Power Holding Company of Nigeria’s (PHCN) successor companies by the Federal Government in November, there has been cautious optimism amongst many Nigerians, analysts and stakeholders alike. Indeed, as the Chairman, Technical Committee of the National Council on Privatisation, Atedo Peterside aptly put it in his paper…

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Challenges Facing The LPG Sector In Nigeria

Dec 16, 2013

Apart from the continuous subsidising of domestic kerosene due to some political reasons which has remained a huge hindrance to the growth of Liquefied Petroleum Gas (LPG) also known as cooking gas in the country, Federal Government policies seem to have created a bottle neck situation for operators and stake holders in the sector alike.…

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Minister’s Consent and Assigning Interest In An Oil And Gas Asset

Sep 29, 2013

Acquiring an Oil and Gas asset in Nigeria is subject to a variety of rigorous rules, the main purpose of which is to prevent fraud and general malpractice. A potential investor in the oil and gas industry, intending to acquire an oil and gas asset within Nigeria would be granted an interest in either an…

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Acquisition Of Upstream Oil & Gas Assets In Nigeria: Legal Issues To Consider

Aug 25, 2013

With the gradual shift away from Nigeria’s shallow waters to deep offshore fields by the oil majors, as has been further highlighted by recent press reports of the potential divestments of assets by Shell and Chevron, it is safe to say that there will be an increase in the activities of energy lawyers who are…

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Oil Theft In Nigeria: Which Way Is Forward?

Aug 11, 2013

Concern is currently at an all time high as the country’s revenue continues to dwindle due to the relentless activities of oil thieves who steal up to 400,000 barrels per day according to some reports. Such concern is particularly well founded as this is coming at a time when multinationals are divesting due to the…

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An Overview of the Nigerian Oil and Gas Industry Local Content Initiative

Jul 29, 2013

The Nigerian Oil and Gas Industry has developed, focusing on increasing indigenous participation in the industry. This is reflected through the Nigerian government initiative of increasing Local Content and ensuring that indigenous companies have a greater part in developing oil and gas assets. The current climate of the industry has largely been influenced by the…

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