Energy Articles & Analysis

Chapter | Energy from The Report: Nigeria 2017

As Africa’s largest oil producer, Nigeria is a key member of the Organisation of the Petroleum Exporting Countries (OPEC) and the world’s fourth-largest exporter of liquefied natural gas. Policy moves over the past two decades have enabled young Nigerian companies to acquire and develop oil and gas blocks, build pipelines and distribution networks, and soon, based on the current project pipeline, refineries and power plants as well. There is still ample room for improvement, however. Renewed militant activity in the Niger Delta region – where much of the upstream activity is concentrated – continues to disrupt production, while the country’s regulatory framework is ageing, with a long-awaited overhaul yet to materialise. Nigeria’s energy sector is largely awaiting the passage of the Petroleum Industry Governance Bill – which has been on the cards for roughly a decade – but given the recent momentum in the National Assembly, the next year may finally see that happen, which would bring in significant sector changes. This chapter contains interviews with Emmanuel Ibe Kachikwu, Minister of State, Petroleum Resources; Femi Otedola, Chairman, Forte Oil; Mohammad Sanusi Barkindo, Secretary-General, OPEC; and Guido d’Aloisio, Central Africa Regional Manager, Saipem.

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It was just one step in the right direction, but the Nigerian Senate’s passage of an energy industry bill, the Petroleum Industry Governance Bill (PIGB), in May 2017 felt like a huge leap to many in the country. Nigeria has been waiting for a decade for comprehensive energy sector reform, with the existing regulatory framework showing its age...

 

What can be done to improve Nigeria’s competitiveness in the downstream sector?

 

How do you expect the Organisation of the Petroleum Exporting Countries (OPEC) agreement from 2016 to impact oil revenues?

 

As Africa’s largest oil producer, Nigeria is a key member of the Organisation of the Petroleum Exporting Countries (OPEC) and the world’s fourth-largest exporter of liquefied natural gas (LNG). In addition to being a traditional heavyweight in terms of output, Nigeria’s energy sector is also notable for its early success in building local...

 

What impact has the drop in oil prices had on Nigeria’s upstream sector?

 

To what extent has OPEC’s decision to adjust production achieved its intended target?