Oil Production In Nigeria Essay

In 1900, Oil was discovered in Texas, USA, and the Hamill brothers orchestrated the drilling of the wells. The Hamills used a steam engine to drill the well. At 11000, they reached the oil reservoirs. Initially, the oil reservoirs were projected to produce 50 gallons a day but surpassed to 80,000 gallons, making the USA the largest oil producer in the world. This reflection paper seeks to discuss how the discovery of oil in Texas enhanced the economic growth in the country.

April 20, 2010 was the beginning of the end for British Petroleum. BP was started in 1901 by William Knox D’Arcy. Their mission is to operate oil and natural gas exploration, while marketing and distributing all over the globe. The primary issues the company faces are rebuilding their business after the tragic oil spill, their low oil prices and internal leadership promotions. Following the 2010 oil spill, all of BP’s top executives were fired, and the company has continued to promote internally, as recent as February of 2016. The company has been trying to rebrand itself and fix its disastrous public image that resulted from the poorly handled oil spill. Due to these internal promotions, no new ideas have been introduced into the company and their efforts in recreating themselves have since stalled, leading to unmotivated employees and decreased profits. Although British Petroleum has solid production sites in Gulf of Mexico, Alaska, and various areas of the U.S, the brand’s name remains so tainted from past violations. The declining price of oil, along with that environmental factors that affect the company, both nationally and globally, have exacerbated this stall and caused the company a major issue in recovering their public image, reputation, brand name, stock prices, and overall prosperity. These factors have certainly not been beneficial to the company in recovering from the sixty-one billion dollars BP has had to pay as result of

A good and successful article is an article that is logically organized and does not disrupt the flow of thought and content that is provided in the piece of work as well as a good writing style which keeps the reader engaged throughout their read. The author Andrew Nikiforuk has created a nice and logical structure within his article. He starts by stating how Europeans felt towards Canada before and continues by explaining what has changed their stance towards Canada. He then leads on by describing oil and the specifics of the oil Canada is refining while noting its problems along the way while recounting how Canada changed, explaining why those changes transpired. Towards the end

Crude oil is a naturally occurring substance,it is primarily composed of hydrocarbon deposits and other organic matter.Crude oil was first discovered and developed during the Industrial Revolution, and its industrial uses were first developed in the 19th century. Newly invented machines and mechanisms dramatically transformed the way in which we work, and they relied heavily, on these resources to function.Today, the world's economy is largely dependent on nonrenewable resources such as crude oil, and the demand for these resources often initiate political unrest, since a limited number of countries control and maintain the largest reservoirs. Like any industry, supply and demand heavily affects the prices and profitability of crude oil. The

British Petroleum is among the largest producers of oil and gas in the world. Headquartered in London, England it is one of only seven “supermajors” in the production of petroleum, in fact its performance in 2012 made it the sixth largest producer in its field and by market capitalization. It is also considered a vertically integrated company which operates in all areas of oil production including exploration, refining, distribution, and marketing. It has also recently expanded into biofuels and wind power. [2]

My name is John Doe. I am writing this letter to inform you about the negative effects in Nigeria oil spills have on its people and the environment around them. Oil spills pollute the water, killing animals and plant life that inhabit the area around the spill. It is important that this problem is to be looked at and solved.

Nigeria is considered to be one of the most corrupt countries in the world. Many different forms of corruption are familiar to Nigeria including political corruption, bureaucratic corruption, electoral corruption, embezzlement, and bribery. Corruption has even been said to be a viable enterprise in Nigeria due to the involvement of citizens, government officials, and private corporations alike. Two main factors help explain why corruption and bribery are so high in Nigeria, these factors include Nigeria’s complete dependence on the petroleum industry and profit-focused companies taking advantage of a less developed,

gas pumped up with crude oil in Nigeria is burned off compared to 0.6% in the United

The Shale gas revolution has demonstrated a quantum leap from almost nothing in 2000 to over 30 billion cubic metres in 2011. This caused a crash of natural gas prices in the United States, significantly changing the country’s natural gas future outlook (Mangeri, 2012). The US oil and gas fracking revolution is a new paradigm which has made the country a game changer in the oil and gas scheme of things, and has immense implications for economics, energy and geopolitics. It is projected that in a few years, the US will surpass Saudi Arabia as the number one oil producer worldwide, having overtaken Russia as the number one natural gas producer in 2012 (Birol, 2013). This would exert a negative pressure on global oil prices,

Nigeria consumes about 30-33 million liters of petrol per day, although it was exceeded on the 12th of August 2016 to 41million liters of petrol (NNPC news update, 12th August 2016); gasoline is the single most important distillate of oil, accounting about 45% of petroleum products (EIA 2006). Although it was projected by the EIA (2006) that oil consumption will increase to 26 million barrels per day in the USA by 2025 (with share of imports almost constant), they(EIA) predict oil use relative to GDP will fall by around 30%, because of improvements continuously made in efficiency in energy and overall growth in the economy.

The Nigerian oil production has been an issue that has become a cruse to the people for so many years. According to reports, the oil production has lubricated to Nigeria’s failure because it has damaged the economy as well as the environment and democracy. Anyone would think that a country that has an enormous resource of petroleum would be economically stable but this is not the case in Nigeria. For many years Nigeria has suffered effects directly as well indirectly from the oil industry. For my research I am drawing from two sets of sources. I will be referring to the books that I have researched as my A-sources. The newspaper articles will be referred as my B-sources in this paper. Through out my paper, I will show you how and explain why the media today only reports one side of the story while the books on my geopolitical topic will tell the background to the events occurring.

1. Crude oil, also known as Petroleum, is a liquid that is found and pumped from the rock formations in the ground. Crude Oil is in the not refined form, and refined into gasoline, heating oil, diesel, kerosene and various products. It is usually found in Saudi Arabia, Nigeria, America, and in Russia.

Handover is where a project, commonly its facilities, are transferred or ‘handed over’ to the operator – which can be a third-party, government agency, another oil & gas company, or another division within the same company. Project turnover can be very difficult in not properly managed due to its vast complexity. Hundreds, often thousands, of documents must be finalized and prepared for handover with the facility, and this is sometimes the last thing that is on the project team and/or contractor’s agenda. A project can be fully commissioned and in operation but it cannot, and likely will not, be accepted by the operator if all required documentation is incomplete in the final handover package.

It is estimated that more than 2 million barrels of oil a day are extracted in the Niger delta, making Nigeria the biggest West Africa’s producer of petroleum. Its first operations begun in 1950s and were carried out by multinational corporations. The biggest gas flaring company was Shell Petroleum Development company of Nigeria Ltd, of which many of its shareholders were the Royal Dutch from Britain. Despite of legal regulation

Before Spain relinquished control of Equatorial Guinea in the late 1960s, they tried unsuccessfully to discovery an area suitable for the extraction of oil. During the reign of Francisco Marcias Nguema from his election in 1968 until his execution in 1979, the dominant economic export for Equatorial Guinea, cocoa (which used to accumulate close to seventy-five percent of the Gross Domestic Product) steadily plunged to yielding only a seventh of the Gross Domestic Product (GDP) in comparison with what used to be demanded in the past.(Frynas 2004,528) The economy of Equatorial Guinea was severely suffering before the discovery of an oil reserve. The first successful oil reservoir was in 1985 in an Alba field drilled by Guineo-Española de Petroleos S.A. (GEPSA); GEPSA is the Equatoguinean branch of a Spanish oil company called Hispanoil.(Frynas 2004, 528) However, little was done to establish a proper progressive plan for the marketing of the oil; which led to Hispanoil abandoning the partnership and this action allowed the Equatoguineans the ability to develop their own plans for profiting from the recent discovery.(Frynas 2004, 529) With Hispanoil out of the picture, Equatoguinean officials found another partner for the extraction of oil. “Equatoguinean government immediately…signed with Walter International, an affiliate of Walter Oil & Gas…by December 1991, the Alba field had started producing gas liguids” (Frynas 529). This newly developed Alba