USA Africa Dialogue Series - Fw: Nigeria’s Oil Barons Reavealed - by Olusegun Adeniyi

A new note from the cause For a Corruption-Free Nigeria!

Nigeria's Oil Barons Reavealed - by Olusegun Adeniyi Posted by Elombah Perspective (cause founder) Tell your friends about this Share this Note Of Nigeria's Oil Barons and PIB - by Olusegun Adeniyi It is indeed rather disturbing that many otherwise respected persons actually believe Senator Enang's claims and are, on that basis, making incendiary comments. What is even more unfortunate is that the multinational oil companies who together officially account for 88 percent of Nigeria's current production figure of 2.4 million barrels of oil per day, based on operatorship responsibility and unofficially actually run the entire show, will be laughing at us. Because we are literally fighting among ourselves over what Mr. Femi Falana, SAN, has appropriately described as crumbs!  As at today, the total number of Oil Mining Lease (OML) in operation in our country is 109, while the total number of Oil Prospecting License (OPL) is 92. But the 2012 target of 2.48 million barrel of oil per day (MBOPD) was made up of 1.5 MBOPD from the onshore and shallower water terrain and 900800 BOPD from the Deepwater; which to date is currently controlled by the multinationals. The NNPC and some indigenous partners are mere concessionaires. However, if production is calculated on equity basis, the percentage of our production controlled by the multinational companies is 43% Joint Venture and 65-70% in the Performance Sharing Contracts (PSC). For readers to understand how miserable the domestic stake in our oil production is, here is a breakdown of the current figures of barrels of oil per day by the oil companies operating in our country: Shell (605,539); Exxon Mobil (528,000); Chevron (489,999); Total Elf (400,134); Agip (98,284); Addax (90,489); NPDC (125,828); Seplat (40,033); Pan Ocean (7,387) and the others described as Independent Marginals (102,797).  It is clear from the foregoing that Nigerians are small players in the sector, yet we now criminalise one another when we should be thinking of how to reposition the industry and make it transparent, so it can benefit a greater majority of our people. READ MORE @ http://links.causes.com/s/clJvVz?r=sPyL SEE ALSO Real Ownership of Indigenous Oil Blocks Revealed A detailed breakdown of indigenous concessions and their directors/shareholders are shown in the table below: Indigenous Operators S/No Name of Operator LicenCe Year of Award Names of Directors/shareholders CONTINUE READING @ http://links.causes.com/s/clJvVE?r=sPyL SAY NO TO CORRUPTION, JOIN US ON FACEBOOK @ http://links.causes.com/s/clJvVO?r=sPyL Want to get involved? See this note on Causes

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