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2 edition of The impact of state ownership of petroleum oil on Nigeria found in the catalog.

The impact of state ownership of petroleum oil on Nigeria

O. A. Odiase-Alegimenlen

The impact of state ownership of petroleum oil on Nigeria

a socio-legal perspective

by O. A. Odiase-Alegimenlen

  • 291 Want to read
  • 35 Currently reading

Published by Headmark Publishers in Benin City .
Written in English

    Subjects:
  • Petroleum industry and trade -- Government ownership -- Nigeria,
  • Petroleum industry and trade -- Social aspects -- Nigeria

  • Edition Notes

    Includes bibliographical references and index.

    StatementO. A. Alegimenlen, M.P. Ezekiel ; edited by L.A. Atsegbua ; [with a foreword by M.A. Adediran].
    ContributionsEzekiel, M. P., Atsegbua, Lawrence Asekome.
    Classifications
    LC ClassificationsHD9577.N52 O33 2007
    The Physical Object
    Paginationvi, 130 p. ;
    Number of Pages130
    ID Numbers
    Open LibraryOL23625696M
    ISBN 109783246127
    ISBN 109789783246126
    LC Control Number2009422020

      The largest U.S. trading partner in sub-Saharan Africa, petroleum-rich Nigeria exports half its daily oil production to the United States. Like many African nations with natural resources coveted by the world's superpowers, the country has been shaped by foreign investment and intervention, conflicts among hundreds of ethnic and religious groups, and by: tion. The pre-existing 13% petroleum derivation which goes to state governments, has not been utilized in the past for the benefit of the specific oil producing communities, it hasn’t been applied to prevent discontent between petroleum produc-ing communities and oil and gas companies, it is the ineffective application of funds meant forFile Size: 1MB.   PART I 1. INTRODUCTION. Nigeria is currently Africa’s largest economy and plays a significant role in the global oil and gas market. 1 Crude Oil 2 and Natural Gas, 3 which have been the mainstay of the Nigerian economy for the last 40 years, have never been as important to the economy as they are now.. The sharp decline and volatility in oil prices since Cited by: 2.


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The impact of state ownership of petroleum oil on Nigeria by O. A. Odiase-Alegimenlen Download PDF EPUB FB2

• The Act maintained state ownership of oil mineral by enacting at section 3(1) that the entire property and control of mineral oils on, under or upon any land in Nigeria and of all rivers, streams and watercourses throughout Nigeria was to be in the British crown.

Keywords: petroleum, economic growth, Nigeria Citation: Baghebo, M. and Atima, T. The impact of petroleum on economic growth in Nigeria. Global Business and Economics Research Journal, 2(5): 1. INTRODUCTION The petroleum industry in Nigeria is the largest industry. Nigeria's total petroleum refining capacity isbarrels (70, m 3) per day, however, onlybarrels (38, m 3) per day was allotted during the uently, crude oil production for refineries was reduced further to as little as 75, barrels (11, m 3) per day during the regime of Sanni are four major oil refineries: the Warri Refinery and.

This book addresses the impact State ownership of Petroleum oil has had on the social, political and economic structure of Nigeria. The conflict is as a result of the struggle for control of the resources by different segments of the society as well as issues of environmental degradation and the negative impact on the economic progress of the.

ria. This section will serve as an introduction to the oil and gas industry in Nigeria with its attendant political and socio-economic problems of the inhabitants of the Niger Delta region.

A historical evolution of the ownership of oil and mineral resources in Nigeria will also be in by: 5. Petroleum industry, which deals with oil exploration, prospecting, development and production (EPDP). InPetroleum Profits Tax attracted 85% tax rate on export and % on domestic sale of oil and gas.

Previous studies on the Nigeria economy in the last decade show that the petroleum industryFile Size: KB. Although many scholars have written on the concept of ownership of petroleum in The impact of state ownership of petroleum oil on Nigeria book, it is important to note that they have concentrated on UN Resolution on state sovereignty over her natural resources and the environmental impact of oil exploitation in Nigeria.

Shell Petroleum Development Company (SPDC) is the pioneer and leader of the petroleum industry in Nigeria. It has the largest acreage in the country from which it produces some 39 per cent of the nation’s oil.¹ The company’s operations are concentrated in the Niger Delta and adjoining shallow offshore areas where it operates in an oil mining lease area of around.

State participation has been particularly prominent in the oil and gas sector since the s, when a wave of nationalizations in Organization of Petroleum Exporting Countries (OPEC) countries shifted the balance of control from private to state companies.

Many governments take a direct ownership stake in oil or mineral and gas. THE IMPACT OF OIL ON NIGERIA’S ECONOMIC POLICY FORMULATION By ‘Biodun Adedipe, Ph.D. Chief Consultant, B. Adedipe Associates Limited, Victoria Island, Lagos, [email protected] Okechukwu Ejims and specifically marine life on which the communities depend for their food and sustenance.8 Replete with large oil and gas deposits, the bulk of Nigeria’s revenue is attributable to oil extracted from the region.9 This has led to environmental degradation, general neglect and impoverishment of these communities The problem may be exacerbated by the.

PROECT TOPIC: AN ANALYSIS OF THE IMPACT OF PETROLEUM EXPORT ON ECONOMIC GROWTH IN NIGERIA includes abstract and chapter one, complete project material available AN ANALYSIS OF THE IMPACT OF PETROLEUM EXPORT ON ECONOMIC GROWTH IN NIGERIA ABSTRACT The petroleum industry is a major sustaining sector of the Nigeria.

Nigeria is now the largest oil producer in Africa and the sixth largest in the world, averaging million barrels per day (bbl/d) in Nigeria's proven oil reserved is billion barrels.

Nigeria’s economy is heavily dependent on earnings from the oil sector, which provides 20% of GDP, 95% of foreign exchangeFile Size: KB. The Nigerian National Petroleum Corporation (NNPC) is the oil corporation through which the federal government of Nigeria regulates and participates in the country's petroleum NNPC business operations are managed through Strategic Business and Corporate Services Units (SBUs/CSUs) in diverse locations across arters: Abuja, FCT, Nigeria.

This study investigates the impact of petroleum revenue and the economy of Nigeria for the period To achieve this objective, primary and secondary data were used. HISTORY OF THE NIGERIAN PETROLEUM INDUSTRY Oil was discovered in Nigeria in at Oloibiri in the Niger Delta after half a century of exploration.

The discovery was made by Shell-BP, at the time the sole concessionaire. Nigeria joined the ranks of oil producers in when its first oil field came on stream producing 5, bpd.

Abstract: This study investigates the impact of petroleum revenue and the economy of Nigeria for the period To achieve this objective, primary and secondary data were used. The primary data was generated from a well structured questionnaires administered to oil and gas and non oil and gas workers in Rivers and Bayelsa states, respectively.

UNESCO – EOLSS SAMPLE CHAPTERS PETROLEUM ENGINEERING – DOWNSTREAM - Environmental Impacts Of The Oil Industry - Jacqueline Barboza Mariano, Emilio Lèbre La Rovere ©Encyclopedia of Life Support Systems (EOLSS) DREW, D., Processos Interativos Homem-Meio Ambiente (Interactive Man-Environment Processes), 1 ed.

São Paulo, Difusão. the relationship between the state/oil multinationals and the people. It was on this note that Nnimmo Bassey, the Executive Director Environmental Rights Action (ERA)/Friends of the Earth Nigeria (FoEN) noted that, Oil extraction has directly fuelled violence and related crises.

Our reading is that the instability of resource rich. The petroleum sector is a very interesting area for foreign investment in Russia. However, due to the lack of a satisfactory legal framework, few substantial. The restoration of democratic government has helped improve transparency and management of oil revenue and reforms at the federal level and proposed reforms of the petroleum sector hold much promise.

At the same time, the judiciary has started to restore confidence that it will serve as a check and balance on the executive and the electoral. The Nigerian International Petroleum Summit (NIPS), an African Petroleum Technology and Investment Conference, is expected to attract new investors into the region’s oil and gas industry.

Senate passes petroleum industry governance bill. The bill seeks to reform the country’s oil and gas industry, which has been bogged down by decades of lack of transparency and corruption. Oil and Gas Law in Nigeria by Yinka Omorogbe A new empirical study on oil and gas in Nigeria, which serves as a useful general introduction to many aspects of the country's oil and gas industries and related laws.

Ownership of oil resources and oil producers. In accordance with current legislation, all the oil reserves are state property. Oil multinationals have to form joint ventures with the Nigerian National Petroleum Corporation in connection with oil exploration, exploitation and production.

Oladipupo S.O., Review of some Impacts of Oil Exploration and Production in Niger Delta, Nigeria While oil exploration and the associated social and environmental consequences in Ogoniland began prior to Nigeria’s independence, the situation did not improve when the country gained independence in File Size: KB.

Nigeria entered recession in as a result of lower oil prices and production, exacerbated by militant attacks on oil and gas infrastructure in the Niger Delta region, coupled with detrimental economic policies, including foreign exchange restrictions. GDP growth turned positive in as oil prices recovered and output stabilized.

THE IMPACT OF THE OIL AND GAS SECTOR ON NIGERIAN CT This research is proposed to put into verification, the obvious dominant role of the oil and gas sector in the Nigeria economy. This is an urge to know the extend to which this sector affects the economic life of the people.

THISDAY: Real Ownership Of Indigenous Oil Blocks Revealed By Segun Adeniyi Contrary to the claim by the Chairman of the Senate Committee on Business and Rules, Senator Ita Enang, last week that The Nigeria National Petroleum Company’s (NNPC) joint venture with the oil operators has been questioned by scholars such as Omoweh, (), Eweje, () and others.

According to them, the joint venture through the provision of the Petroleum Act has subordinated oil related matters under the government and the oil companies. This book, which has twenty chapters, is a collection of essays in honour of Honourable Justice (Mrs) Kate Abiri, Chief Judge of Bayelsa State of Nigeria who has contributed immensely to the rule of law and advancement in the Niger Delta area in particular where the petroleum industry has wrought great devastation in various forms.

The law and the regulatory framework 5/5(3). Oil and Gas Resources in the Federal Republic of Nigeria Wumi Iledare1 and Rotimi Suberu2 1. Overview Nigeria, with an estimated population of million, ranks among the top 10 nations in proved oil and natural gas reserves.

Of Nigeria‟s current 36 constituent states, only nine are classified as oil and gas Size: KB. By vesting the ownership of petroleum to the Crown in20 the state also reserved the right to govern the petroleum resources.

The state controls the development of petroleum resources by granting the Secretary of State the authority to grant licenses to search and bore for and get : Meri-Katriina Pyhäranta. This is an act that provides for the exploration of petroleum from territorial waters and the continental shelf of Nigeria and to vest the ownership of, and all on-shore and off-shore revenue from petroleum resources in the Federal Government.

Oil & Gas ® c/o EnerCom, Inc. 17th Street Suite Denver, CO [email protected] E-mail for Advertising Information or call x   Nigeria’s long-awaited Petroleum Industry Governance Bill (PIGB) will be signed into law by President Muhammadu Buhari towards the end of March, legislators hope, according to Reuters.

The OPEC Author: Zainab Calcuttawala. Nigeria’s oil production, which fluctuates between million barrels per day (bpd), is unlikely to be hugely affected by any oil block sales in. In some PSAs, changes in international oil prices or production rate can affect the company's share of production.

PSAs could be a transitional phase or a permanent feature of the petroleum regime (as for example in Syria and Egypt). PSA allows investor participation while retaining national ownership of shares of petroleum produced.

Advances in the development of petroleum resources has contributed enormously to the global energy demand and economic development over the past decades, however, it has left profound negative impacts on the natural environment and adverse human health effects in most oil-producing host communities around the world.

Apart from the loss of petroleum-derived Cited by: 2. Nigeria’s position as Africa’s biggest oil producer in OPEC according to Synge (), no doubt, has considerable impact on Nigeria’s influential role in continent.

Crude oil has not been with his own side effects on the Nigerian economy these equally need to be considered to adequately show the “full impact” of crude oil in the. Nigeria started exploring its petroleum resources in the mid 60’s, however, it was until the early 70’s that large scale production was realized in Nigeria and by Mayhad entered the league of the largest ten oil producers and by, oil accounted for over 80% of our foreign exchange earnings.

Godwin Uyi Ojo in Nigeria. Executive Director, Environmental Rights Action/Friends of the Earth Nigeria. Thu 21 May EDT Last modified on Wed 14 Feb EST.Since the first commercial oil discoveries were made in Nigeria in the s, the Major IOCs, either directly or within the state joint ventures, held a tight ownership of the vast majority of Nigeria’s oil and gas reserves and production with minimal File Size: KB.