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Oil blocks in Nigeria

As one of the world’s leading crude oil depot, Nigeria has a good number of oil blocks in the country. Crude oil is Nigeria’s richest export and contributes a lion share to the country’s economy. The industry has enriched Nigeria so much so that the government had to create a special account to store the excess returns gotten from the industry. A

Major petroleum companies in Nigeria

As an oil-rich nation, Nigeria poses as a very tempting destination for oil and gas production companies. The country currently has quite a number of oil and gas companies doing well for themselves. These companies do not only produce oil and gas, but many of them also partake in the business of selling the end products of crude. These petroleum

The history of the oil and gas industry

Oil and gas is a multi-million dollar, international industry which began many years back. Oil has been relevant in some capacity for thousands of years, such as lamps. Lamps began to lose its relevance as soon as safe electricity was discovered. This initially had an impact on oil but it soon restored its importance as other industries and

How oil majors survived huge price decline in 2018: lessons for local oil firms

The oil market witnessed a 40 percent decline in the value of oil prices in the fourth quarter of 2018. This shook major oil producers in the world - ExxonMobil, Chevron, Shell, and others. Yet, the decline did little to hinder the companies from reporting strong results. The oil giants took some steps to combat the ugly situation last year.

Refineries in Nigeria: Facts you need to know

As at the time of making this post, there are only four refineries in Nigeria. One is in Warri, another in Kaduna and two in Port Harcourt. The refineries are government-owned and subsidiaries of the Nigerian National Petroleum Corporation (NNPC). The refineries have a combined installed capacity of 445,000 bpd. A comprehensive network of

How oil and gas firms can utilize digital technologies in their business

The importance of adopting digital technologies in the oil and gas industry cannot be over-emphasized. As new technologies emerge every day, oil and gas companies will not be left out in the benefits these technologies offer. Oil firms can utilize digital technologies to drive value, reduce costs in downturn and execution speed, as well as

10 fire protection tips in the oil and gas industry

Working in the oil and gas industry comes with a range of risks and exposure to hazards, but of all the exposures, one of the worst is fire hazard which is detrimental to property, asset and lives. Therefore, working in the sector requires proper safety standards and protocols. Guarding against fire-related hazards in the oil and gas

How to start a diesel supply business in Nigeria

It’s a known fact that oil and gas business is one of the most lucrative ventures in Nigeria. Periodically, the demand for petroleum increases, the supply chain expands and smart individuals take advantage to enrich themselves. Amongst many rewarding petroleum products is Automated Gas Oil; often referred to as Diesel. Diesel supply is a viable…

10 safety tips when using gas at home

In thousands of homes across Nigeria, cooking gas is the go to solution for having a smokeless kitchen. It’s clean and highly efficient but unlike other substitutes like firewood, charcoal, cooking gas comes with extra care and caution. Poor management has resulted to fatal loss of lives and properties. Below, we list 10 safety tips to consider…

How to make money in the oil and gas sector

Jean Paul Getty, a renowned English American industrialist said: “Formula for success: rise early, work hard, strike oil.” This was after his investments in Saudi Arabian oil wells paid off. He moved up to playing in the big leagues and becoming one of the richest of his time. Since then, a lot of individuals have adopted this mantra and…
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