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Nigeria: The Cost of Oil - The Atlantic

Nigeria is the largest oil and gas producer in Africa. Crude oil from the Niger delta basin comes in two types: light, and comparatively heavy � the lighter around 36 gravity and the heavier, 20�25 gravity. Both types are paraffinic and low in sulfur. The history of oil exploration in Nigeria dates back to when Nigerian Price of a boat in nigeria oil Corporation niggeria exploratory work in the country; at the onset of World War I the firm's operations were stopped.

Due to the lack of technological and financial resources of small oil companies, large oil companies took over the exploration of commercial oil in the country. Thereafter, licenses were given to D'Arcy Exploration Company and Whitehall Petroleum but neither company found oil of commercial value and price of a boat in nigeria oil returned their licenses in The company began exploratory work in The consortium was granted price of a boat in nigeria oil to explore oil all over the territory of Nigeria but the acreage allotted to the company in the original license was reduced in and then between and Drilling activities started in with the first test well drilled in Owerri area.

Oil was discovered in non-commercial quantities at Akata, near Eket in In the pursuit of commercially available petroleum, Shell-BP found oil in OloibiriNigeria in Other important oil wells bboat during the period were Afam and Bomu in Ogoni territory.

Production of crude oil began inand in a total oftonnes of crude oil was exported. Towards the end of the s, non-British firms were granted license oik explore for oil: Mobil inTenneco inGulf Oil and later Chevron inAgip inand Elf in Prior to the discovery of oil, Nigeria like many other African countries strongly relied on agricultural exports to other countries to supply their economy. Many Nigerians thought the developers were looking for palm oil.

The first oil field began production in After that, the economy of Nigeria should have seemingly have experienced a strong increase. However, competition for the profits from oil created price of a boat Price Of A Boat In Nigeria Plus in nigeria oil great level of terror and conflict for those living in the region.

Many citizens of Nigeria nigerka that they have not been able to price of a boat in nigeria oil the economic benefits of oil companies in the state. Additionally, Nigerian government officials have remained majority shareholders in the profits created by the production of Nigerian oil, od to government capturing of nearly all oil production, and citizens are not seeing socioeconomic benefits, and insist that oil companies should compensate people.

Its reserves make Nigeria the tenth most petroleum-rich nation, and by the far the most affluent in Africa. In price of a boat in nigeria oil its crude oil production was averaging around 2, barrelsm 3 per day.

X all of the country's primary reserves are concentrated in around the delta of the Niger Riverbut off-shore rigs are also prominent in the well-endowed coastal region. Nigeria is one of the few major oil-producing nations still capable of increasing its oil output.

Unlike most of the other OPEC countries, Nigeria is not projected to exceed peak production until at least More recently, production has been disrupted intermittently by the protests of the Niger Delta's inhabitants, who feel they are being exploited. Nigeria has a total of oil fields and wells in operation according to the Department of Petroleum Resources.

Most of Nigeria's oil fields are price of a boat in nigeria oil and scattered, and as ofngieria small unproductive fields accounted for This contrasts with the sixteen largest fields which produced As a result of the numerous small fields, an extensive and well-developed pipeline network has been engineered to transport the crude oil. Also because of the lack of highly productive fields, money from the jointly operated with the federal government companies is constantly directed towards petroleum exploration and production.

Nigeria's petroleum is classified mostly as "light" and "sweet", as the oil is largely free of sulfur. Nigeria is the largest producer of sweet oil in OPEC. This sweet oil is similar in composition to petroleum extracted from nigeroa North Sea.

This crude oil is known as "Bonny light". However, Nigeria ceased exports to the US in July because of the impact of shale production in America; India is now the largest consumer of Nigerian oil.

There are six pgice exportation terminals in the country. Shell owns two, while Mobil, Chevron, Texaco, and Agip own one. Shell pgice owns the Forcados Terminal, which is capable of storing 13 million barrels 2, m 3 of crude oil in conjunction with the pdice Bonny Terminal. Agip operates the Brass Terminal in Brass, a town kilometres 70 miles southwest of Port Harcourt and has a storage capacity of 3, barrelsm 3.

Texaco operates the Pennington Terminal. Oil companies in Africa investigate offshore production as an alternative area of production. Deepwater production mainly kil underwater drilling that exists metres 1, ft or more below the surface of the price of a boat in nigeria oil. By expanding to deep water drilling the possible sources for finding new price of a boat in nigeria oil reserves is expanded.

Angola and Nigeria are the largest oil producers in Africa. In Nigeria, the deepwater sector still has a large avenue to expand and develop. The Agbami oilfields hit full production inatbarrels 40, m 3 a day. The deepwater extraction plants are less disturbed by local militant attacks, seizures price of a boat in nigeria oil to civil conflicts, and sabotage. An open-air market for illegal crude oil operates off the Niger Delta, nigerla the Togo Triangle.

The biggest natural gas initiative is the Nigerian Liquified Natural Gas Companywhich is operated jointly by several companies and the state. It began exploration and production in Inthe government prepared a Gas Master Plan that was intended to promote natural gas production and encourage the supply of natural gas to domestic power stations so as to help alleviate the country's electricity shortages.

The pipeline would allow for transportation of natural gas to BeninGhana, Togoand Cote d'Ivoire. The majority of Nigeria's natural gas is flared off and it is estimated that Nigeria loses Nigeria's total petroleum refining capacity isbarrels 70, m 3 per day, however, onlybarrels 38, m 3 per day was allotted during the s.

Subsequently, crude oil production for refineries was reduced further to as little as 75, barrels 11, m 3 per day during the regime of Sanni Abacha. There are four major oil refineries: the Warri Refinery and Petrochemical Plant which can processbarrels 19, price of a boat in nigeria oil 3 of crude per day, the New Port Harcourt Refinery which can producebarrels 24, m 3 per day there is also an 'Old' Port Harcourt Refinery with negligible productionas well as the now defunct Kaduna Refinery.

It is estimated that demand and consumption of petroleum in Nigeria grows at a rate of Nigeria is Boatt largest oil producer and has been a member of the Organization of Petroleum Exporting Countries since The Nigerian economy is heavily dependent on the oil sector, which, accounts for over 95 percent of export earnings and about 40 percent of government revenues, according to the International Monetary Fund.

According to the International Energy AgencyNigeria produced about 2. Nigeria is an important oil supplier to the United States. For the last nine years, the United States has imported between percent of its crude oil from Nigeria; however, United States import data for the first half of show that Nigerian crude is down to a 5 percent share of total United States crude imports. According to the International Energy Agency, inapproximately 33 percent of Nigeria's crude exports were sent to the United States, making Nigeria its fourth largest foreign oil supplier.

Although total ot imports into the United States are falling, imports from Nigeria have declined at a steeper rate, according to the International Energy Agency. The main reasons underlying this trend are that some Gulf Coast refiners priice reduced Nigerian imports in favor of domestically-produced crude, and that two refineries in the U.

East Coast, which were significant buyers of Nigerian crude, were idled in late As a result, Nigerian crude as a share of total United States imports has fallen to 5 percent in the first half of nigeri, down from 10 and 11 percent in the first half of andrespectively, according to the International Energy Agency.

Shell has been working in Nigeria sinceand currently dominates gas production in the country, as the Niger Delta, which contains most of Nigeria's gas resources, also houses most of Shell's hydrocarbon assets. Price of a boat in nigeria oil to its official amalgamation into the Colony and Protectorate of Nigeria by the military forces of the British Empire inthe territory of Nigeria was a loose collection of autonomous states, villages, and ethnic communities.

Many of these price of a boat in nigeria oil themselves as pillars of art, trade, and politics in West Africa as late as the 19th century; four of these cultural entities, the Hausa-Fulanithe Igbo sometimes spelled Ibothe Yoruba and the Efik grew extremely prominent in the region before the arrival of foreigners, dictated British colonial policies, and dominate national politics in Nigeria to this day.

The modern Hausa and Fulani societies in northern Nigeria are the cultural successors of the Sokoto Caliphatea theocratic state founded by Muslim reformer empire-maker Uthman dan Fodio in Geographically isolated in the north, the Caliphate was governed by Islamic laws as prescribed by dan Fodio's Kitab al-Farq and maintained greater links commercially and culturally to North Africa and the Arab states than to West Africa and the Atlantic.

By contrast, the Oricethe Igbo and the Efik in the south had regularly experienced nigerja with Europeans since at least the 16th century. A minority of southerners converted to Christianity even prior to the establishment price of a boat in nigeria oil permanent British control, but the majority followed traditional indigenous religions, worshipping myriad deities with vast domains spanning both cosmic and terrestrial spheres.

Coastal Nigerians established thriving trade both regionally and abroad, fashioning the coast into a hub for products like palm oil, a good sought after by rapidly industrialising Europe, while also serving as key price of a boat in nigeria oil for the slave trade prior to its international banning the region came to be known as the Slave Coast as a result.

The Niger Delta region, which is roughly synonymous with the Niger Delta province in location and the contemporary heart of the petroleum industry, is and was a zone of dense cultural diversity i is currently inhabited by roughly forty ethnic groups speaking an estimated dialects. Some of the more relevant ethnic groups in the western part of the Niger Delta region include the IjawItsekiriand Ogoni.

The Ijaw sometimes spelled Ijothe fourth most populous tribe in Nigeria and price of a boat in nigeria oil far price of a boat in nigeria oil largest in the Delta region, lived during late medieval times in small fishing villages within the inlets of the delta; however by the 16th century, as the slave trade grew in importance, Ijaw port cities like Bonny and Brass developed into major trading states which served as major exporters of ni and other goods regionally.

Other states such as those of Itsekiri domain of Warri sprang up at this time as. Their capital city of Calabarlocated at the coastal southeast of Nigeria eastern Niger Delta served as the major trading and shipping center during the pre-colonial and colonial period. Calabar also served as the first capital of Nigeria and the point of entry of Western religion and Western education into southeastern Nigeria.

The combined population of the IbibioAnnangand Efik people is the fourth largest language group in Nigeria. Even before the consolidation of British control over all of present-day Nigeria's borders in from the protectorates of Southern and Northern NigeriaBritish forces had begun imposing drastic political and economic policies on the Nigerian people which would lead to important consequences in the future.

Originally this was done primarily through the government-owned Royal Niger Company. The company was crucial in securing most of Nigeria's major ports and monopolised coastal trade; this resulted in the severing of the ties which had linked the area to the flourishing West African regional trade network, in favour of the exportation of cheap natural resources and cash crops to industrialising nations.

Most of the population eventually abandoned food production for such market-dependent crops peanuts and cotton in the north, palm oil in the east, and cocoa in the west.

Afterthe north was permitted a system of indirect rule under authoritarian leaders, while in the south the British exercised control directly. Interest in Nigerian oil originated in with an ordinance making any oil and mineral under Nigerian soil legal property of the Crown.

By the colonial government had granted the state-sponsored company, Shell then known as Shell D'Arcy a monopoly over the exploration of all minerals and petroleum throughout the entire colony. Until the late s concessions on production and exploration continued to be the exclusive domain of the company, then known as Shell - British Petroleum.

However, other firms became interested and by the early s OvTexacoand Gulf had purchased concessions. In October Nigeria gained full independence from Britain with the British monarch continuing to preside as Head of Statebut the country quickly altered its relationship with its former colonizers by declaring Nigeria a republic of three federated states the Eastern, Western and Northern Regions.

The price of a boat in nigeria oil military government which assumed power under General Aguiyi-Ironsi was unable to quiet ethnic tensions boah produce a constitution acceptable to all sections of the country.

In fact, its efforts to oli the federal structure exacerbated the growing unrest and led to another coup, led by largely northern officers in July of the same year.

This second coup price of a boat in nigeria oil the regime of Major General Yakubu Gowon. Subsequently, the massacre of thousands of Igbo in the north prompted hundreds of thousands to return to the southeast, where increasingly strong Igbo secessionist sentiment emerged under the leadership of the Igbo military governor Lieutenant Colonel Chukwuemeka Odumegwu Ojukwu.

With tensions stoked between the Eastern region and Gowon's federal government, on 4�5 Januaryin compliance with Ojukwu's desire to meet for talks only on neutral soil, a summit attended by Gowon, Ojukwu and other members of the Supreme Military Council was held at Aburi in Ghana, the stated purpose of which was to resolve all outstanding conflicts and establish Nigeria as a confederation of regions.

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Prior to her role as analyst at Nairametrics, she had a progressive six year writing career. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges.

You may contact her via [email protected]. This site uses Akismet to reduce spam. Learn how your comment data is processed. The Presidency has alleged that some Bureau De Change operators were facilitating money to terrorists. The Presidency has confirmed that some Bureau De Change operators were facilitating money to terrorists, insisting that Nigerians will be shocked when details of the investigation into their activities are fully disclosed.

The Presidency also said that many Nigerians were shocked over the revelation that the killers of policemen, naval officers and other military officers were harboured in places of worship and farms.

Look at the major breakthrough that the police achieved in the South East. It is shocking to many Nigerians that places of worship and farms are used as places where killers of police officers and naval officers and the military are being harboured.

This discovery is shocking but this is going on all over the country as we speak to you. The new service chiefs are working with the Inspector General of Police and heads of the intelligence agencies and there is a clear lead as Governor Fayemi who is the Chairman of Nigerian Governors said two or three days ago, there is a clear lead and connection now established between kidnapping, banditry and terrorism in the country especially in terms of financing.

I am not going to give you the numbers but there are a number of people who are currently under arrest, who are handling money, Bureaus De Change who are facilitating money to terrorists. It can be recalled that President Muhammadu Buhari, on Tuesday ordered the security chiefs to take out bandits, kidnappers, their collaborators and sponsors to restore confidence in the country.

The President said that he will no longer tolerate a situation where bandits and kidnappers are the ones dictating the pace and setting the tone and also will not condone a situation in which our own operations are reactionary rather than being proactive. The FG has launched an app to enable Nigerians to monitor and evaluate ongoing government projects across the country.

The Federal Government has concluded plans to deploy an App that will enable Nigerians to monitor and evaluate ongoing government projects across the country. The monitoring application which had been developed by the Federal Government would be installed at the sites of over ongoing projects across the country. Agba, whose visit was part of an ongoing effort to assess the utilisation of the N49 billion intervention fund released by the Federal Government to 52 federal health institutions in the country, said the technological innovation is to ensure integrity and transparency, in the handling of infrastructural projects in the country.

This will aid transparency, as the three cardinal focus of our ministry is planning, budgeting and monitoring and evaluation. He noted that 3 of the benefiting health institutions in Edo, received an average of N million, for the procurement of equipment in four areas. The implementation of the use of this App which is a welcome development is coming at a time when most Nigerians have lost faith in the integrity and transparency of most government projects at different levels.

These projects are either overpaid for and not executed or not well funded and abandoned by contractors. Engine oil is to cars, what blood is to humans.

Lubrication oil not only guarantees the friction-free operation of the different moving parts of the car, it also works as a coolant to often heated-up components. Happily, there are several good Price Of A Boat In Nigeria 000 motor oils available in the markets that are quite suitable for Nigerian cars. And as usual, you can always get updates and useful advices on Naijauto for all car-related issues, such as how to pick best tyres or best car batteries in Nigeria , etc.

This time, we are commenting on great engine oil, price of engine oil in Nigeria as well as where to get them.

First, we must say 5w and 20w engine oil seems to be the most hunted in Nigeria. However, they aren't just an engine oil brand. There are many manufacturers offering these kinds of oil and their specific price list will be presented in each brand later. The 5W grade of engine oil is a popular multi-grade oil type. Brands of 5w30 engine oil in Nigeria are:. Castrol is new to Nigerians but its quality has long been recognized by the world.

The 20w grade of engine oil is purposely formulated for hot climates like Nigeria. This oil grade is very thick, making it very good for cars at very high temperatures. Cold start is also possible because of the usual hot climate of Nigeria. Brands of 20w50 engine oil in Nigeria:.

Mobil engine oil prices go from low to high. Although most of their products can be regarded as high end, the quality justifies the price. Check below the Mobil engine oil price in Nigeria!

Please note that prices may vary according to location and retailer. Total engine oil price in Nigeria varies according to amount, brand and sometimes location.

You can buy most Total products online and offline at filling stations, auto shops, or local shops and markets. Castro is a fairly recent engine oil brand in Nigeria currently becoming more popular daily. Viscosity simply refers to how freely liquids flow.

Technically, it is a calculation of resistance to flow. Oil must retain some level of viscosity to be effective. It must be thin enough to flow after cold start and yet thick enough to lubricate the engine at normal engine operating temperatures.

Many modern cars will handle engine oil better than some older vehicle types. To fully understand engine oil specifications, please look back our previous post Engine oil specifications: what's the best oil for your car? An oil viscosity index shows the temperature range of different types of engine oil.

Motor oils are classified according to their synthesis or origin. Factors that may change from type to type include viscosity grade, price, and function or performance. The basic types of engine oil are:. This is the oil type you would most normally see around Price Of A Boat In Nigeria 00 your neighborhood in Nigeria.

It is oil formed Price Of A Boat In Nigeria 30 from crude derivatives, and is just fine for the average light duty engine design. Engine oil is normally formed from crude oil.

However synthetic oil is motor oil that is totally man made in a lab. It typically is high performance, less dirty, and leaves little sludge. High performance engines such as sports cars need this kind of oil. Overall, other cars will benefit from synthetic oil but it is also more expensive. A blend of synthetic and natural base results in a blend. The advantages of the blend is that it gives the car a lot of the high performing benefits of synthetic oil at a price slightly above base oil.

This has made this oil increasingly popular. Cars with engines in excess of 75, miles experience certain drawbacks. These might include leakage, rapid consumption of oil, and smokiness. A high mileage oil brand is designed with extra additives to minimize these problems. You might have noticed a series of numbers and letters on the plastic container gallons that carry engine oil, e. SAE 5W They look like mumbo-jumbo to the average car user, but the life of your vehicle actually depends on these.

They represent the grade of the oil. Lubricating oil must pass a very rigorous viscosity test. Since low temperatures cause oil to congeal and high temps cause it to melt, oil used in vehicles must maintain a certain standard of viscosity in all weather conditions. The figure at the beginning stands for the thinness of the oil in extreme cold conditions. The lower the number the thinner the oil is.

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