Oilgas Resources

                                                    FREE DOWNLOAD This publication contains  Oil and Gas Jobs, Business news and upcoming events . It enhances your knowledge about what is going on in the oil and sector especially in Nigeria.

Events | Petroleum Africa https://www.petroleumafrica.com/events/ Africa Oil & Gas Local Content Conference & Exhibition.  Full Event Calendar ... June 2018. Jun 14 - Jun 155th East Africa Oil & Gas Summit (EAOGS 2018); Jun 14 - Jun 162 nd. Conferences, training, seminars about / in Oil And Gas - Nigerian ... https://www.nigerianseminarsandtrainings.com/all-event-tag-search?tag=Oil-and-Gas International Petroleum -  Oil and Gas  - Operation, for Non-Technical Staff: Mineral Rights, Upstream Oil and Gas  Mineral Lease Contracts, Exploration, Drilling, Production and Sale. 3 months, 21 days, Mar 05 - 25 May,  2018 .  2018 -03-05 12:03:00. United Kingdom. HRODC Postgraduate Training Institute. Nigeria Oil & Gas Conference & Exhibition (NOG) https://www.cwcnog.com/         Nigeria Oil  &  Gas Conference  & Exhibition (NOG). Providi...

On Sunday 15 January 1956, Shell Darcy discovered Oloibiri Oilfield. It was the first commercial oil and Gas detection in Nigeria. The discovery ended 50 years of unsuccessful oil and gas exploration in the country by different international oil companies and launched Nigeria into the limelight of the Petro-State. Having discovered oil and gas in commercial quantities in Oloibiri, Shell stepped up exploration in the Niger Delta.  By 1958 Shell Darcy had discovered oil in twelve areas in the Niger Delta of which Oloibiri, Bomu and Afam  were the most promising. Discovery well Oloibiri −1 was spudded on 3 August 1955 and drilled vertical to a total depth of 12008 feet (3660m). This well was tested and it flowed at the rate of about 5,000 barrels (790 m3) of oil per day; it was deemed to be a commercial discovery. Some gas was also discovered with the oil. The oil discovery was made in the Tertiary Agbada. The location of Oloibiri Oilfield The Oloibiri Oilfield...

With the exception of a huge calamity in the producing regions, crude oil could no longer reach $ 100 a barrel on the international market, Nigeria's Minister of State for Petroleum Resources, Ibe Kachikwu disclosed. It does not matter in the oil and gas sector, "Oil will no longer be $ 100 a barrel, except that there is a huge calamity on the North Korean Peninsula and so we will probably continue to remain depressed at $ 60- $ 70, but even there, 'is a huge move, from where we were,' said Mr Kachikwu in Lagos at the Samsung Yard where the $ 3.3 billion Floating Production Storage Offloading (FPSO) is integrated by Samsung Heavy Industries (SHI) at LADOL Free Zone. Mr. Kachikwu, who argued that such a situation could not happen, said: "What this tells us is that Nigeria will start to consider its priorities differently." "We are going to look at the net worth for the country in these future projects. As a country, we are not very impressed ...

In the oil and gas sector, a new report finds that shale drilling is still largely uneconomic, echoing criticism of too much hype surrounding the Saudi oil minister's shale last week. Not only that, but the costs increase and the drillers pursue an "irrational production". Al Rajhi Capital, based in Riyadh, has uncovered financial data from a long list of American shale companies and found that "despite rising prices, most of the companies surveyed are still losing money and are showing no sign of improvement".  The average return on assets for American shale companies "is still a measly 0.8 percent," wrote the financial services company in its report. In addition, much-publicized efficiency gains may be overestimated, at least according to surveys. The company said that in the third quarter of 2017, the "average operating cost per barrel remained broadly the same without any efficiency gains". Not only that, but the cost of produci...

 Nigeria is a major oil and gas  giant, with many viable and achievable opportunities in Africa.  Surveys have shown that upstream, there are investment opportunities in the exploration and production of crude oil and condensates. Also in the mid stream, construction of pipes and transportation of petroleum products are the major opportunities.  Oil Vessel, trailers and pipes are means of transportations. And in the downstream sector, opportunities exist for the refining, distribution and marketing of petroleum products, by-products and derivatives. Investors, it was learned, can build depots, service stations and get tankers for retail storage and product distribution.  A document obtained from the Ministry of Petroleum Resources showed that other opportunities abound in the gas sector for investors interested in producing various products, including liquefied petroleum gas. This involves the construction of infrastructure and distribution sys...

The establishment of modular refineries in oil and gas free zones would reduce investment costs, suggested the Association of Nigerian Exporters, ANE. The president of the ANE, Sunny Udoh, made this suggestion in Abuja during his meeting with Okon Umana, the managing director of the Oil and Gas Free Zones Authority, OGFZA. Mr. Udoh made it clear that, with the incentive regime that exempts free-zone enterprises from import duties and other forms of taxation, the establishment of modular refineries in oil and gas free zones would reduce the cost considerably. He said the modular refinery proposal should go hand in hand with the creation of oil and gas free zones in all oil-producing states in order to diversify the country's economy. In addition, he said, the federal government should allow OGFZA to lead efforts to set up modular refineries in oil-producing areas to replace "illegal refineries" in the region. He said these refineries should be based on US ex...

Oil shale can be defined as an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons, called shale oil can be produced. Not to be confused with tight oil—crude oil occurring naturally in shales, shale oil is an alternative for conventional crude oil. Though, in the oil and gas industry, extracting shale oil from oil shale is more costly than the production of conventional crude oil both financially and in terms of its environmental impact. In oil and gas sector, 2016, estimate of global deposits set the total world resources of oil shale equivalent of 6.05 trillion barrels (962 billion cubic metres) of oil in place.  Deposits of oil shale take place around the world, including major deposits in the United States. When oil shale is being heated to a sufficiently high temperature, it causes the chemical process of pyrolysis to yield a vapour. Cooling the vapour, the liquid shale oil—an uncon...

In 2017, Brent crude oil prices rose 20.5%, reaching $ 66.87 per barrel (bp) on December 29, 2017 compared to 55.47bp on January 3, 2017. Brent hit $70bp on January 15th. This is 30.3% above the average of $53.71bp in 2017, and 55.5% above the reference price of the 2017 Nigeria budget of $45bp. Among others, in the oil and gas sector, these are the questions everyone is asking “Is this price sustainable throughout 2018?”, “Will oil prices continue to rise?”. For a country as dependent on oil revenues as Nigeria, the answers are of the utmost importance.  Like any other commodity, the price of oil is determined by current and projected levels of supply and demand. Thus, we need to examine the factors that influence the supply and demand of the oil and gas market, to understand the factors that will influence future oil prices. Demand - supply factors and economic conditions of the world in the oil and gas sector From demand point of view, the economic conditions of ...