On economic implications for governance, business, development of fluctuating oil revenues
CHIJIOKE NWAOZUZU
September 10, 2018
Oil revenue has been and still is the mainstay of the national economy and is likely to remain so for a long time to come, as it currently provides the bulk of government revenue and most of the foreign exchange earnings. At present, crude oil exports account for about 90 percent of foreign exchange earnings […]
Developing Nigeria’s gas pipeline infrastructure
CHIJIOKE NWAOZUZUSeptember 3, 2018
Environmental concerns have made the use of natural gas very attractive. Surging electricity demand is also one of the major drivers of increased consumption of natural gas (Gas-toPower). Globally, natural gas utilization for electric power generation is expected to increase more than 25% faster than fuel use of all types over the next 10 years. […]
Developing an African regional market for natural gas
CHIJIOKE NWAOZUZUAugust 28, 2018
The key to extensive international trade in natural gas lies in developing global integrated/substantial pipeline grids, and increasing Liquefied Natural Gas (LNG) fleet, where navigable water access is available. Integrated pipeline facilities do not presently exist in much of the world, but are being built rapidly. By 1991, international gas trade was focused in North […]
Sustainable transportation and case for alternative fuel for vehicles
CHIJIOKE NWAOZUZUAugust 20, 2018
The Nigerian economy has borne the huge burden of subsidy payments on petroleum products. Massive importation of light petroleum products (petrol, diesel, and kerosene) continues unabated because the national refineries are working sub-optimally and new ones are yet to be constructed. Recently, government announced its plan to privatize the old and mismanaged refineries, which was […]
Growing indigenous technology for Nigeria’s petroleum industry
CHIJIOKE NWAOZUZUAugust 13, 2018
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
CHIJIOKE NWAOZUZUAugust 6, 2018
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
CHIJIOKE NWAOZUZUJuly 30, 2018
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 […]
Fuel pricing in rural/remote areas in a liberalized downstream petroleum regime
CHIJIOKE NWAOZUZUJuly 23, 2018
Fuel pricing in rural areas follow a slightly different pattern when compared to fuels pricing in urban locations. The reason is because the retail outlets are fewer compared to urban areas; and so the fuel retailers can afford to charge higher prices, due to lesser competition, or engage in outright collusion. This can result in […]
Endowments, CSR can facilitate R&D in petroleum sector
CHIJIOKE NWAOZUZUJuly 16, 2018
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 […]
Critical success factors for locating proposed modular refineries in the Niger Delta region
CHIJIOKE NWAOZUZUJuly 9, 2018
With the recent government impetus and incentives for the construction of modular refineries in the Niger Delta Region, it becomes imperative for potential investors to consider key success factors in regard to the location of these refineries. Typically, a refinery should be located near demand source. This mainly applies to the medium to large scale […]