What is the downstream sector in Nigeria?

The Nigerian petroleum industry is divided into two sectors –the upstream sector (which deals with exploration and production) and the downstream sector (which deals with refining, distribution, and marketing of crude oil for domestic consumption).

Where are the oil fields in Nigeria?

Niger Delta Basin
The most productive region of the nation is the coastal Niger Delta Basin in the Niger Delta or “South-south” region which encompasses 78 of the 159 oil fields. Most of Nigeria’s oil fields are small and scattered, and as of 1990, these small unproductive fields accounted for 62.1% of all Nigerian production.

Where is oil and gas located in Nigeria?

Niger Delta
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.

How viable is Nigeria oil and gas sector?

Nigeria’s oil and gas industry remains its most lucrative and viable investment opportunity, as observers believe that the oil and gas sector offers opportunities for marketing essential capital equipment and technology, for both extraction and production.

What is upstream and downstream in oil and gas?

Simply put, upstream works include the exploration and production of crude oil and natural gas, whilst downstream refers to the processes applied after extraction through to it being delivered to the customer in whatever format required.

What is a downstream energy company?

Companies in the downstream sector are those that provide the closest link to everyday users. After crude oil is discovered and extracted—the upstream process—it’s shipped and transported—the midstream process. Thereafter, the oil is refined, marketed, distributed, and sold, which is the downstream process.

Where is crude oil in Lagos State?

The Aje oil field lies 25 km from the coast in western Nigeria, on the border with Benin. It is situated 64 km from Lagos and is 12 kilometres away from the West Africa Gas Pipeline (12 km away).

Where is the largest oil field in Nigeria?

Agbami Field is an oil field in Nigeria….

Agbami field
Peak of production (oil)	250,000 barrels per day (~1.2×107 t/a)
Estimated oil in place	400 million tonnes (~ 100×106 m3 or 900 million bbl)

Which state has gas in Nigeria?

Imo State
According to him, Nigeria is richly endowed with mineral resources specifically crude oil and gas. He disclose that Imo State holds a substantial quantity of gas with over 200 trillion cubic feet and upsides of over 600 tcf, informing that gas is a catalyst for socio-economic renaissance .

Is oil and gas profitable in Nigeria?

The oil and gas industry is arguably one of the most lucrative business sectors in Nigeria and Africa as a whole.

What is downstream oil sector?

The downstream sector is the final stage of the process and refers to the refining, processing and purifying of crude oil and natural gas. The sector also encompasses any efforts that are made to market and distribute crude oil and natural gas related products.

What are the three sectors of oil and gas industry?

The industry is often divided into three segments:

• upstream, the business of oil and gas exploration and production;
• midstream, transportation and storage; and.
• downstream, which includes refining and marketing.

What is downstream in oil and gas industry?

Downstream operations are oil and gas processes that occur after the production phase to the point of sale. This sector of the oil and gas industry—the final step in the production process—is represented by refiners of petroleum crude oil and natural gas processors, who bring usable products to end-users and consumers.

What is the downstream sector in oil and gas?

How many oil well is in Lagos State?

The Federal Government says four of the five oil wells discovered in Lagos belong to the state. It added that the fifth oil well could not have belonged to the state since its location fell outside the approved distance.

Is petroleum found in Lagos?

The Lagos State Governor, Akinwunmi Ambode, on Monday declared that Lagos has officially joined the League of Oil Producing States in Nigeria following the discovery of crude oil by Yinka Folawiyo Petroleum Company Limited in Badagry, Lagos.

Which state in Nigeria has the most oil?

1. Akwa-Ibom. Akwa- Ibom is currently the largest oil producing state in Nigeria after displacing Rivers state from this position. It is located in the coastal area of Nigeria and is populated by over 5 million people according to the last census.

Does Lagos have crude oil?

This follows the discovery of crude oil by Tunde Folawiyo Petroleum Company Limited in Badagry, Lagos.

Which state in Nigeria is richest in oil and gas?

1. Akwa Ibom State. Akwa Ibom is the largest oil producing state in Nigeria accounting for 31.4% of the total oil produced daily. The capital of Akwa Ibom is Uyo and it is said to be the most beautiful city in the country.

What is upstream oil and gas business in Nigeria?

Upstream is generally the most lucrative aspect of oil and gas business but it is also by far the most capital intensive. We have supplied the list of E & P companies in Nigeria below. Downstream companies: Downstream business involves marketing and distribution of fuel products after they have been refined.

What is downstream oil and gas business?

Supply and trading (exporting crude oil and importing fuel products) as well as terminaling are also part of downstream oil and gas business. So all those terminals and tank farms you see in Apapa are into downstream business.

What are the opportunities in the Nigerian oil and gas sector?

In the upstream subsector of the Nigerian oil and gas sector, several opportunities are available, including; Provision of gas-to-liquid technology for approved bidders of the NGFCP Technical service contracts with already existing gas producers Opportunity to bid and own marginal oil fields which were recently auctioned by the DPR

What are the opportunities for pipe milling in Nigeria?

Additional opportunities exist in the fabrication of pipes for the oil and gas industry and the water services sector. Nigeria’s estimated average demand for steel pipes range upwards of over 1 million to 1.2 million tons annually and offer opportunity for partnership for the pipe milling and fabrication services.