Growing indigenous technology for Nigeria’s petroleum industry

CSR,Fuel Pricing, Marginal Oil Fields, Technology,Alternative Fuel, oil revenue, Refining business

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 years, […]

Marginal oil fields development in Nigeria: Way forward

CSR,Fuel Pricing, Marginal Oil Fields, Technology,Alternative Fuel, oil revenue, Refining business

Marginal Oil fields development in Nigeria represents an opportunity to increase indigenous participation in petroleum upstream activities. It is also anticipated that the additional production from these stranded / satellite fields will boost the nation’s daily crude production output and government revenue. The term ‘marginality of a field’ is subjective but, whether it is untapped, […]

On forging ECOWAS regional cooperation in petroleum marketing and distribution

CSR,Fuel Pricing, Marginal Oil Fields, Technology,Alternative Fuel, oil revenue, Refining business

Prospects for economic growth are driven by energy consumption, which is dependent on or smuggling by their oil availability, accessibility and affordability of the energy sources/resources. Statistics have shown that Sub-Saharan Africa countries are projected to grow in number at an average rate of 1.2%, leading to a population estimate of about 500 million in […]

Endowments, CSR can facilitate R&D in petroleum sector

CSR,Fuel Pricing, Marginal Oil Fields, Technology,Alternative Fuel, oil revenue, Refining business

The terms ‘Endowment’ and corporate social responsibility are sometimes used interchangeably, but they are not synonymous, hence the need to make the distinction between them from the get-go. Endowments refer to assets and/or funds that are invested in perpetuity by individuals, associations, or corporate bodies without a direct profit motive, unlike expendable funds that typically […]

The new impetus on financing modular refineries in Niger Delta

CSR,Fuel Pricing, Marginal Oil Fields, Technology,Alternative Fuel, oil revenue, Refining business

A publication on the 22nd February 2018 by SweetCrude Reports, Abuja, stated that the Federal Government of Nigeria has initiated talks with potential financiers to contribute finance to investors in modular refineries in the Niger Delta region. Such financiers include Central Bank of Nigeria (CBN), International Finance Corporation (IFC), the Nigerian Sovereign Investment Authority (NSIA), the […]

Beware OPEC member states! Use of fossil fuels threatened

CSR,Fuel Pricing, Marginal Oil Fields, Technology,Alternative Fuel, oil revenue, Refining business

Most OPEC member states have annual budgets that are still based on revenues from crude oil exports. The evolution of the global energy sector provides opportunities as well as challenges for countries whose economies are largely dependent on fossil fuels revenue. Monoproduct economies are exposed to the fluctuations in the prices of these fuels in […]