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Petroleum Industry In Nigeria
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 crude has API gravity of approximately 36 while the heavier crude has API gravity range 20 -25. Both types are paraffinic and low in Sulphur. Nigeria's economy and budget have been largely supported from income and revenues generated from the petroleum industry since 1960. Statistics as at February 2021 show that the Nigerian oil sector contributes to about 9% of the GDP of the nation. The need for holistic reforms in the petroleum industry, ease of doing business, and encouragement of local content in the industry birthed the Petroleum Industry Bill by the Goodluck Jonathan administration on 18 July 2008. History of oil exploration The history of oil exploration in Nigeria goes back to 1903, when the Nigerian Bitumen Corporation conducted exploratory work in the country. At the onset of World War I, the firm's op ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigeria
Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. It covers an area of . With Demographics of Nigeria, a population of more than 230 million, it is the List of African countries by population, most populous country in Africa, and the List of countries and dependencies by population, world's sixth-most populous country. Nigeria borders Niger in Niger–Nigeria border, the north, Chad in Chad–Nigeria border, the northeast, Cameroon in Cameroon–Nigeria border, the east, and Benin in Benin–Nigeria border, the west. Nigeria is a Federation, federal republic comprising 36 States of Nigeria, states and the Federal Capital Territory, Nigeria, Federal Capital Territory, where its capital, Abuja, is located. The List of Nigerian cities by population, largest city in Nigeria by population is Lagos, one of the largest List of largest cities, metr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eket
Eket is one of the 31 local government areas in Akwa Ibom State, Nigeria. The name ''Eket'' or Ekid also refers to the indigenous people of the region who are the Ibibio people of the southern part of Ibibioland and to their dialect which is Ekid . The Eket people use the endonym ''Ekid'' for themselves and their language, but Europeans spell and pronounce the name as "Eket". Apart from being a local government area in Akwa Ibom State, Eket is one of the three geopolitical zones in the state. The geopolitical zones are Uyo senatorial district, Ikot Ekpene senatorial district and Eket senatorial district. The town itself is an industrial city that in recent years has become a conurbation joining together separate villages. The Office of the Surveyor-General of Akwa Ibom State estimates the area of the Eket Local Government Area to be approximately 176.000 square Km while the 2006 National Census gives the population of the Local Government Area as 172,856. However, the Akwa I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privatization
Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management. Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an enterprise's previous natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bola Tinubu
Asiwaju Bola Ahmed Adekunle Tinubu (born 29 March 1952) is a Nigerian politician serving as the 16th and current president of Nigeria since 2023. He previously served as the governor of Lagos State from 1999 to 2007, and senator for Lagos West in the Third Republic. Tinubu spent his early life in southwestern Nigeria and later moved to the United States where he studied accounting at Chicago State University. He returned to Nigeria in the 1980s and was employed by Mobil Nigeria as an accountant, before entering politics as a Lagos West senatorial candidate in 1992 under the banner of the Social Democratic Party. After the military dictator Sani Abacha dissolved the Senate in 1993, Tinubu went into exile and became an activist campaigning for the return of democracy as a part of the National Democratic Coalition movement. In the first post-transition Lagos State gubernatorial election, Tinubu won by a wide margin as a member of the Alliance for Democracy. Four years ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of Nigeria
The president of Nigeria, officially the president of the Federal Republic of Nigeria, is the head of state and head of government of the Federal Republic of Nigeria. The president directs the executive branch of the Federal Government and is the commander-in-chief of the Nigerian Armed Forces. The offices, powers, and titles of the head of state and the head of government were officially merged into the office of the presidency under the 1979 Constitution of Nigeria. Executive power is vested in the president. The power includes the execution and enforcement of federal law and the responsibility to appoint federal executive, diplomatic, regulatory, and judicial officers. Based on constitutional provisions empowering the president to appoint and receive ambassadors and conclude treaties with foreign powers, and on subsequent laws enacted by the House, the presidency has primary responsibility for conducting foreign policy. The president also plays a leading role in fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oloibiri
Oloibiri is a small community in Ogbia LGA located in Bayelsa State, in the eastern Niger Delta region of Nigeria. The inhabitants of Oloibiri community are mainly fishermen and farmers. It is the first place that oil was discovered in Nigeria. Oloibiri is a historic town to the oil and gas industry in Nigeria. Nigeria's first commercial oil discovery in Oloibiri town by Shell Darcy on January 15, 1956. The discovery of oil in Oloibiri hasn't helped most Nigerians and only has led to destruction of the environment and the way of life of indigenous people of the Niger Delta. And with an initial production of 5,000 barrels of oil per day (which would later become as much as 2,000,000), Nigeria became the 6th largest oil producer on the chart of the Organisation of petroleum Exporting Countries OPEC. Oloibiri well was the first commercial oil well in Nigeria. Oloibiri Oilfield was the first commercial oil field in Nigeria as well as West Africa. Nigeria exported its first crude o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elf Aquitaine
Elf Aquitaine is a French brand of oils and other motor products (such as brake fluids) for automobiles and trucks. Elf is a former petroleum company which merged with TotalFina to form "TotalFinaElf". The new company changed its name to Total in 2003 and TotalEnergies in 2021. Elf has been as a major brand of TotalEnergies since then. History Founding and mergers (1965–1979) Elf Aquitaine's heritage is rooted among three French oil companies: ''Régie Autonome des Pétroles (RAP),'' ''Société Nationale des Pétroles d'Aquitaine (SNPA),'' and ''Bureau de Recherches de Pétroles (BRP''). These entities were formed to exploit a gas field discovered in Saint-Marcet in the Aquitaine region of south-western France in 1939. In the early 1960s, with a view to create a French national champion with oil and gas considered as a strategic resource for economic development, under President de Gaulle's leadership, further state-owned companies were set up with specific objectiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agip
Agip S.p.A., acronym for Azienda generale italiana petroli, was an Italian automotive gasoline, Diesel fuel, diesel, Liquefied petroleum gas, LPG, lubricants, fuel oil, and bitumen retailer established in 1926 and Subsidiary company, subsidiary of Eni, Eni S.p.A. In 2013 Agip Merger, merged into Eni, creating the Refining and Marketing Division (R&M). History In 1924, Sinclair Oil, a U.S. oil company, and the Italian Ministry of National Economy created a fifty-year joint venture agreement to explore oil in Emilia-Romagna and Sicily, over an area of 40,000 km2. 40% of the capital was held by the ministry, all expenditure was incurred by Sinclair Oil and 25% of profits went to the Italian ministry. The political opposition, headed by Giacomo Matteotti and Don Sturzo, alleged that the joint venture was damaging to the nation and started a controversy which led to suspicions of corruption; Matteotti indeed was killed two days before he was due to give a speech on this issue. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chevron Corporation
Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is active in more than 180 countries. Within oil and gas, Chevron is vertically integrated and is involved in hydrocarbon exploration, production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Founded originally in Southern California during the 1870s, the company was then based for many decades in San Francisco, California, before moving its corporate offices to San Ramon, California, in 2001; on August 2, 2024, Chevron announced that it would be relocating its headquarters from California to Houston, Texas. Chevron traces its history back to the second half of the 19th century to small California-based oil companies which were acquired by Standard and merged into St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gulf Oil
Gulf Oil was a major global oil company in operation from 1901 to 1985. The eighth-largest American manufacturing company in 1941 and the ninth largest in 1979, Gulf Oil was one of the Seven Sisters (oil companies), Seven Sisters oil companies. Prior to its merger with Chevron Corporation, Standard Oil of California, Gulf was one of the chief instruments of the Mellon family fortune; both Gulf and Mellon Financial had their headquarters in Pittsburgh, Pennsylvania, with Gulf's headquarters, the Gulf Tower, being Pittsburgh's tallest building until the completion of the U.S. Steel Tower. Gulf Oil Corporation (GOC) ceased to exist as an independent company in 1985, when it merged with Chevron Corporation, Standard Oil of California (SOCAL), with both rebranding as Chevron Corporation, Chevron in the United States. Gulf Canada, Gulf's main Canadian subsidiary, was sold the same year with retail outlets to Ultramar and Petro-Canada and what became Gulf Canada Resources to Olympia an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tenneco
Tenneco, Inc. (formerly Tenneco Automotive and originally Tennessee Gas Transmission Company) is an American automotive components original equipment manufacturer and an aftermarket ride control and emissions products manufacturer. It is a ''Fortune'' 500 company that was publicly traded on the New York Stock Exchange since November 1999 until it was taken private in November 2022 by Apollo Global Management. Tenneco is headquartered in Northville Charter Township, Michigan. History Tenneco's origin was in the Chicago Corporation, established about 1930.TENNECO BUILDING Diana J. Kleiner, Handbook of Texas Online (retrieved 11 August 2010) Tennessee Gas and Transmission Company (completely separate) had been formed in 1940. Natural gas A shortage of fuel for |
Mobil
Mobil Oil Corporation, now known as just Mobil, is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil, formerly known as Exxon, which took its current name after history of ExxonMobil#merger, it and Mobil merged in 1999. A direct descendant of Standard Oil, Mobil was originally known as the Standard Oil Company of New York (shortened to Socony) after Standard Oil was Standard Oil Co. of New Jersey v. United States, split into 43 different entities in a 1911 Supreme Court decision. Socony merged with Vacuum Oil Company, from which the Mobil name first originated, in 1931 and subsequently renamed itself to "Socony-Vacuum Oil Company". Over time, Mobil became the company's primary identity, which prompted a renaming in 1955 to the "Socony Mobil Oil Company", and then in 1966 to the "Mobil Oil Corporation". Mobil credits itself with being the first company to introduce Pay at the pump, paying at the pump at its gas stations, the first company to pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
