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

Bbl = Barrels of oil per day                                                                                                                                                    Source: Wikipedia

 

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