Analysis say's in the 12 months USA will produce more than Saudi Arabia...

I saw it on BBC news as well but they're saying in 10 years' time and not now.

Very impressive stuff!

This is a country that thinks. Their oil reserves is massive.

good for nigeria

But the are still behind Venezuela, Canada and Russia in terms of oil reserves

News like this just makes me wonder, is OPEC still relevant?

HNosegbe: News like this just makes me wonder, is OPEC still relevant?

OPEC is as good as dead with almost every country discovering oil.

Oil prices should crash in the next few years.

ShyM-X:


OPEC is as good as dead with almost every country discovering oil.

Oil prices should crash in the next few years.

OPEC were at the peak of their powers in the 70s and 80s due to the oil embargo, the Arab wars with Israel, the Iranian revolution and the Iran-Iraq war.

Now, most of the erstwhile major consumers of OPEC oil (like the US) are developing their own reserves. India is now Nigeria's biggest buyer of crude, but recent reports say that they have now discovered their own reserves.

While these ominous events are taking place, our "leaders" are busy strategising for 2015.

I'm fearful for this country's future.

Thank God for that, at least they will stop sponsoring wars and going to war for oil. Peaceful planet soon.

Billionaires: Thank God for that, at least they will stop sponsoring wars and going to war for oil. Peaceful planet soon.

Growup child,

Stop making dumb comments.

Oh, Nigeria and her over-dependence on oil.

The United states second biggest oil producer in the world? !!! Things are going to get worse, you bet.
One even understands why the gallon of gas had increased at least 300 % since 1997 in this country.

MURICA!!!

To bad it is not like our Nigerian Boony Light Crude.

This American Heavy Tar trash Oil will ruin your car .

No-one wants to see an increase in gas price after a simple traffic jam in Los Angeles or New York.

Africa needs to begin developing hydrogen plants and biopolymer facilities. Africa has a prime opportunity to lead the world in sustainable development, I believe kenya has one of the biggest geo-thermal plants in the world if not the biggest, it's cheap sustainable energy that can have a revolutionizing impact for industrial Africa. One way for Africa to jump start a major economic sector relatively cheap is to market biolubricants to developed nations that are phasing out machines that previously ran on petro based lubricants. The ratio of high quality soil in Africa along with food grade type lubricants that are suited better in certain environments would provide Africa another stream of major revenue.

Wireless electricity is also something that needs to be high on the priority list since it saves money and helps the environment!