Nigeria has an abundance of natural resources, especially hydrocarbons. It is the 10th largest oil producer in the world and the third largest in Africa. Oil revenues account for about 95% of Nigeria's foreign exchange earnings. Current daily production is typically limited by OPEC quota reductions .

The crude oil production in Nigeria is estimated to witness a decline of approximately 7.93% during the forecast period of 2018 – 2025. Major factors driving the market are the increasing investments in the upstream and downstream sectors of the oil & gas industry. Nigeria’s oil is situated in Niger Delta around the coastal areas of south-east Nigeria. Ever since the Biafra war (1967-1970), largely fought over the lucrative Niger Delta, the struggle for the control and sharing of the oil and gas resources in this area has dominated the country’s politics and development. Following his good work there, he was appointed in 2007, as the Group General Manager of the National Petroleum Investment Management Services (NAPIMS) where he was responsible for ensuring the effective supervision of the nation’s investment in the upstream of the Nigeria’s oil industry. This covered the six joint ventures, sixty-two Oil and gas industry in Nigeria is a quite complex industry and many outsiders struggle to understand the various types of companies and the business they do. Here, we have explained the various categories of oil and gas firms and listed the companies under each category. ExxonMobil is one of the largest oil and gas companies in Nigeria. Their affiliates are involved in the production and exploration of natural gas and crude oil, manufacturing of petroleum products, sale and transportation of crude oil, petroleum products and natural gas.

The oil and gas sector accounts for about 10 per cent of gross domestic product, and petroleum exports revenue represents around 86 per cent of total exports 

1 May 2017 The key legislation governing the oil sector in Nigeria includes the: Petroleum Nigerian Oil and Gas Industry Content Development Act 2010. 4 Apr 2019 Muhammadu Buhari, re-elected as president of Nigeria in February, has a and address the needs of the country's ailing oil and gas sector. 23 Dec 2018 Perhaps it will be very important to explain why the sector is key to the economy, first, the petroleum industry otherwise referred to as oil and gas  Petroleum industry in Nigeria. Nigeria is the largest oil and gas producer in Africa. Crude oil from the delta basin comes in two types: light, and comparatively heavy – the lighter around 36 gravity and the heavier, 20–25 gravity. Both types are paraffinic and low in sulfur.

10 Oct 2019 A man walks through foliage as gas flares burn in Idu, Rivers State, Nigeria. Photographer: George Osodi/Bloomberg. Sign up to our Daily 

12 Jul 2015 Nigeria's oil and gas sector is battling to acquire a skilled workforce due to inadequate training facilities at universities and reduced central  9 Sep 2019 is now moving to cut methane emissions from the oil and gas sector Nigeria was flaring enough gas to make it second only to Russia in  1 May 2017 The key legislation governing the oil sector in Nigeria includes the: Petroleum Nigerian Oil and Gas Industry Content Development Act 2010.

Nigeria is the largest oil and gas producer in Africa. Crude oil from the Niger 

Nigeria’s oil is situated in Niger Delta around the coastal areas of south-east Nigeria. Ever since the Biafra war (1967-1970), largely fought over the lucrative Niger Delta, the struggle for the control and sharing of the oil and gas resources in this area has dominated the country’s politics and development.

With the taking of final investment decision (FID) on Nigeria liquefied Natural Gas NLNG Train 7, it is hoped that the industry would be energised and by extension boost the economy and create jobs. The NLNG train 7 has been delayed for several years.

The legislative framework regulating the. Nigerian oil industry, including the Constitution of Nigeria 1999, Land. Use Act,4 Petroleum Act,5 Associated Gas Re -  gas industry including the divestment by international oil companies of their the provisions of the Nigerian Oil and Gas Industry Content Development Act,  31 Dec 2019 LAGOS – The performance of the nation's oil and gas sector in the year cannot be described without President Muhammadu Buhari historic 

21 Oct 2019 The Nigerian Oil and Gas Update provides information on current developments on regulatory, accounting and tax matters affecting the industry.