Editor's Clear Perspective

Afam Paulkinson Umeano – Editor

Yes, We Are!

It’s been a theatre of fear and trepidation in the oil and gas business these past couple of years. That describes the unprecedented adverse era that lingered in the Nigeria Energy sector which ushered severe capital flight, divestments, inflation, power supply decline and a deeply-felt recession, among others.

Insecurity with a proliferation of attacks on energy facilities in the oil producing region climaxed the orchestrated global oil price crash now dovetailing into a renewed global threat to oil relevance. The era could not be eclipsed!

At a point, some companies foreclosed, others divested, and more downsized or got enmeshed in debts or a combination. Yet, there were those who, though shaken, were not taken, but rather took the opportunity to prove their resilience and to strategically reposition. Few even emerged award-winning champions amid the imbroglio that characterized the now seemingly fading era.

As fortune favours the bold, tenacity and commitment makes challenges, however big, seem mere hurdles and obstacles to be overcome in the race to success.

A shimmer of light came with the engagement by the government with the militants which enabled a raise in crude production volumes and export, especially as price began a slow steady climb.

The era coincided with change of guards in various government units, including energy institutions and agencies. The daunting scenario induced conscious reforms across the sector, especially the reinvigoration initiative issuing from the top man in the energy value chain, Dr. Ibe Kachikwu, the Hon. Minister of State for Petroleum. Some of the newly appointed regulatory heads commenced various reforms to steer their ship through the turbulence. The NCDMB and NNPC bosses as well as some others embarked on some forms of repositioning. NCDMB, led by Engr. Simbi Wabote, is already showing a very encouraging scorecard after one year of activating its reform package. Energy sectorial groups, professional bodies and associations also began refocusing and or reinventing themselves at various levels

This special report debuts with a tribute to the outstanding industry players and heroes, who, despite the overwhelming temptation to quit the kitchen when the heat became clearly exacerbated, stood firm. NOGSpeed is a window to peep into the tenacity of the players in continuing the production of oil and gas; a kaleidoscope of success stories as the Nigerian economy exits recession. It is a sort of roll call of who is where, doing or offering what in the industry, at a time like now. It is intended as a quarterly industry review and projections to inspire the industry we all love and depend on for sustenance, at least for now. In other words, NOGSpeed intends to do the PR work of the industry, to say to the world that, “We Are” and elicit, “Yes, you Are!” answer from the world in terms of perception, value and investments.

It is a forerunner to the upcoming Nigeria Oil & Gas Roundtable Series (NOGSeries): a series of consistent confabs that will aggregate the gamut of the industry challenges into clusters and galvanize distinct pragmatic solutions to each of them in proper perspective.

We pray we are able to foot the bill

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MAST HEAD – (This could be arranged on a straight line for space or use your previous design)

Editor: Afam P. Umeano

Research: Becky Martins, Blessing Osuji

Staff Writers: Sebastine Obasi, Michael Eboh

Art & Design: Design Services Bureau Ltd; Amaka Mathias

Relations Consulting: Engr. Charles Iloegbunam, Kevin Ushi

Initiative/Produced by: The Harry Fame Communications Ltd

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(Place [3c] Global Oil Production Figures” on the lower half of this Page 3)

Global crude oil production rankings by volume (2016)

	Country	Oil Prodtn (bbl/day)		Country	Oil Prodtn (bbl/day)		Country	Oil Prodtn		Country	Oil Prodtn
1	Russia	10,551,497	26	Ecuador (OPEC)	548,421	51	Bahrain	50,000	75	Niger	13,000
2	Saudi Arabia (OPEC)	10,460,710	27	Argentina	510,560	51	Cuba	50,000	76	Guatemala	8,977
3	United States	8,875,817	28	Egypt	494,325	52	Turkey	49,497	77	Mauritania	5,000
4	Iraq (OPEC)	4,451,516	29	Libya (OPEC)	384,686	53	Tunisia	48,757	78	Chile	4,423
5	Iran (OPEC)	3,990,956	30	Congo, Republic	308,363	54	Germany	46,839	79	Bangladesh	4,189
6	China	3,980,650	31	Vietnam	301,850	55	Peru	40,266	80	Japan	3,918
7	Canada	3,662,694	32	Australia	289,749	56	New Zealand	35,574	81	Greece	3,172
8	U A E (OPEC)	3,106,077	33	Thailand	257,525	57	Ukraine	31,989	82	Spain	2,667
9	Kuwait (OPEC)	2,923,825	34	Sudan & South Sudan	255,000	58	Ivory Coast	30,000	83	Czech Republic	2,333
10	Brazil	2,515,459	35	Turkmenistan	230,779	59	Syria	30,000	84	Belize	2,000
11	Venezuela (OPEC)	2,276,967	36	Equat. Guinea (OPEC)	227,000	60	Belarus	25,000	85	Lithuania	2,000
12	Mexico	2,186,877	37	Gabon (OPEC)	210,820	61	Mongolia	23,426	86	South Africa	2,000
13	Nigeria (OPEC)	1,999,885	38	Denmark	140,637	62	Albania	22,915	87	Barbados	1,000
14	Angola (OPEC)	1,769,615	39	Chad	110,156	63	Yemen	22,000	88	Bulgaria	1,000
15	Norway	1,647,975	40	Brunei	109,117	64	Poland	20,104	99	Kyrgyzstan	1,000
16	Kazakhstan	1,595,199	41	Ghana	100,549	65	Congo, CDR	20,000	90	Georgia	400
17	Qatar (OPEC)	1,522,902	42	Cameroon	93,205	66	Philippines	20,000	91	Israel	390
18	Algeria (OPEC)	1,348,361	43	Pakistan	84,746	67	Serbia	20,000	92	Slovakia	200
19	Oman	1,006,841	44	Romania	77,910	68	Netherlands	18,087	93	Taiwan	196
20	U K	939,760	45	Italy	70,675	69	Suriname	17,000	94	Tajikistan	180
21	Colombia	897,784	46	Timor-Leste	60,661	70	France	16,418	95	Morocco	160
22	Indonesia	833,667	47	Trinidad & Tobago	60,090	71	Austria	15,161	96	Jordan	22
23	Azerbaijan	833,538	48	Bolivia	58,077	72	Myanmar	15,000	97	Slovenia	5
24	India	734,180	49	Papua New Guinea	56,667	73	Hungary	13,833
25	Malaysia	661,240	50	Uzbekistan	52,913	74	Croatia	13,582