beethoven:

Shoooo

Mr Man, shey na you dey read the article abi na the article dey read you? You nor see the line wey carry: "The nation, which at present produces about 2,037 million barrels per day (bpd),"


I bow for you ooo

My bad. I was multi-tasking when I first see it, and glanced through the whole thing. Read it again now, and also checked the internet - and it's over 2 million bpd. I was going to go nuts with 200 grand bpd cos that's basically nothing compared to the major oil producers.

Safe for that.

fckmn24seg:
We are supposed to be using the excess crude oil reserve to cushion the effect this price fall, but unfortunately the fisherman cannot explain how the account was emptied.

More reason why we need a leader that is alive to his responsibilities.

Vote Buhari

Vote APC

No matter how many times they explained it you, you have chosen to believe what you want. So what the use?

So that this thieves would have more money to corner..

SirShymex:
So, Nigeria produces only a meagre 297,000 bpd?

Why do folks scream oil all the time, when countries like Iran and Iraq produce over 12 and 11 times what naija produces respectively?

Nigeria produces about 2M+ per day. The figure stayed here is the expected increase between now and 2017

has released what he believed
would happen in this New Year. One of his
prophecies was that 2015 election would be
a replica of June 12. He said Jonathan should
be prayerful as there are plans to kill him.
Suleiman who head the Auchi-based Omega
Fire Ministries also said the queen of
England and Shehu Shagari may die.
1.There shall be harvest of testimonies
for women looking for fruit of the womb.
2. President Obama needs serious prayers
for his health.
3. I see a woman becoming the president
of America, but her health needs
attention.
4. Britain needs prayers because of her
Queen.
5. I entered the house of former
president Shehu Shagari in the spirit and
I saw RIP; he needs prayers.
6. There shall be agricultural boom this
year.
7. I saw Catholic Reverend Fathers getting
married. I saw a group rising, called “Old
Catholic Church”, they were on fire for
God and caused a revolution.
8. Boko Haram is sponsored by two
people; one is a traditional ruler and the
other is a retired General.
9. Nollywood should stop Unclothedness
and immoral content been shown
because God is not happy.
10. Bola Tinubu, Bode George and king of
Onitsha need prayers.
11. A great Pentecostal man of God been
called to glory. I wept.
12. I see president Goodluck Jonathan
coming back but troubles.
13. I saw people crying in the Oba of
Benin’s house.
14. Libyan election to be cancelled.
15. El Rufai should go and sit down. For
abusing Jesus, he will not win Kaduna
election.
16. Brigade Commander Aso rock should
be changed.
17. Buhari’s health needs attention.
18. Aminu Tambuwal, I saw him leading
Sokoto State.
19. Dangote will not have it smooth this
year; he will drop from Africa’s richest.
20. Patience Jonathan needs serious
prayers.
21. Egypt will have elections.
22. 2015 presidential election will be
rigged, marred in violence and end up in
court case.
23. Thank you Jesus! Finally a Christian is
now the governor of Lagos state.
24. A popular Abuja pastor needs serious
prayers. I saw mourning.
25. I saw the Naira falling greatly. It
became N200 (two hundred naira) to 1$ (a
dollar).
26. I saw Cameroonian soldiers killing
Boko Haram soldiers.
27. Prophets who deceive people, collects
their properties, charge money, will face
great judgment this year.
28. Rochas Okorocha; I saw him moving to
PDP.
29. Contrary to most prophecies, Nigeria
will not break up.
30. Nigerian Government will start
fighting the Gospel and men of God.
31. Military leaders will be changed.
32. There will be plan to kill Goodluck
Jonathan but it will be exposed.
33. I saw governor Amosun return.
34. APC Rivers State needs to do grass
root campaign because I saw the election
been rigged for PDP. Prayers are needed
because of so much bloodshed.
35. Three popular musicians will die; one
of them is a young boy.
36. Former President Obasanjo should go
and make peace with God, Nigeria is not
his problem.
37. The retired Army General one of the
sponsors of Bokoharam, God warned him
recently with his health. The next, God
will take his life.
38. I saw a man win Governorship but not
allowed to govern.
39. I saw attention in Delta state moved
to Agbor.
40. President Gooluck Jonathan should
arrest corrupt leaders. His calmness is
what is empowering them to steal.
41. I saw people who resigned as
ministers to contest election return back
as Federal ministers.
42. I see so much food in Nigeria in 2015.
43. I saw major death in China (I saw
group of kids killed)
44. A great man of God whose first name
begins with 3rd letter and Surname with
15th letter needs serious prayers. I saw
serious crisis and crying. Please let’s pray
for him.
45. Let’s pray against military
intervention and interim government.
46. President election inconclusive, yet
Jonathan declared winner. APC Pray!
47. I don’t see Buhari with credentials to
vie for president.
48. Ghana economy to have terrible and
serious crisis.
49. With the level of bloodshed I saw, it
was better Goodluck goes now to his
village quietly.
50. 2015 election is another June 12. The
man who truly won will not govern or
rule.
51. Arik Airline to pray against disaster.
52. I saw people crying in Alex Ekwueme’s
house. Why are they crying?
53. I saw upsurge around bar beach
taking people’s lives, water overrunning
and bringing down buildings.
54. Pray against three major Air disasters
between February and October.
55. I saw a king in Zulu (South Africa)
taking a bow.
56. Emmanuel Iwuanyanwu needs serious
prayer against mourning and death.
57. I saw Niger Delta militants become so
powerful and influential in government.
58. God is not happy with Nigerian
government for handling power problem.
59. Lawyers will make so much money in
2015.
60. Chief E.K, Clark should pray, not a
good year for him.
61. Great men of god to rise in Namibi

AZeD1:

Nigeria produces about 2M+ per day. The figure stayed here is the expected increase between now and 2017

Thanks, bruddah.

PerfumeRepublik:
Oil! Oil! Oil! ;Blessing Or Curse?
When they Scream APC! OR PDP! .All that motivates them is "that Niger Delta Crude".

God bless you . They are all thieves

I don't think that should be the focus of the government. The government should actually cut down on its expense on finding oil in Chad basin and should promptly divert a large chunk of that resource to building new refineries with new technologies. The US is now almost energy independent, in fact they too will be exporting the Shale. oil, at the moment, there is so much supply with low and competitive demand. The shale technology is cheaper, very soon all this high sea drilling will not be cost effective anymore. Before that shock hits us, we should start the buildup of refineries, so that the masses too will start enjoying cheap pump prices.

Also what the government keeps forgetting is when raw oil cost is low chemicals industry profitability goes up. One feeds the other. Also usage goes up with cheapness so demand will increase thus everything from taxes to hemi's will too. Refiners make most of their gains during price transition times, NOT when the price of oil is high or low. The leads and lags are what puts the money on the table from not only the change but the volume increase as well. No matter the general consensus, it's a fact that companies that just refine oil run on about a 9%- 12% profit margin at any given time as opposed to drug companies with extreme margins 40-50% or higher. Unfortunately energy is the main cost of everything on this planet.

RicKyRichards:
Same oil now sold for <= $46 per barrel? Buhahahahaha!!! Nigeria's in trouble.

chai lwtmb rotfl with this ur comment

Poverty Na bastard... Illiteracy Na vagabond.


Shey Na this oil price wey currently dey sell at 45 dollar per barrel we dey talk about so..


My people let me tell you what's happening as we speak.. Oil companies have stopped all future explorations. It's too expensive for them. Couple that with the corruption from NNPC, the insecurity from the militants, the decrease in demand for Nigerias oil and what you have is actually major job losses in the industry. Shell has been firing people back and forth.


If these oil prices remain as they are now, then we are in trouble as a nation..

At what price please? $20.00/barrel or 50cents?

otunbakolawole:

I don't think that should be the focus of the government. The government should actually cut down on its expense on finding oil in Chad basin and should promptly divert a large chunk of that resource to building new refineries with new technologies. The US is now almost energy independent, in fact they too will be exporting the Shale. oil, at the moment, there is so much supply with low and competitive demand. The shale technology is cheaper, very soon all this high sea drilling will not be cost effective anymore. Before that shock hits us, we should start the buildup of refineries, so that the masses too will start enjoying cheap pump prices.

Also what the government keeps forgetting is when raw oil cost is low chemicals industry profitability goes up. One feeds the other. Also usage goes up with cheapness so demand will increase thus everything from taxes to hemi's will too. Refiners make most of their gains during price transition times, NOT when the price of oil is high or low. The leads and lags are what puts the money on the table from not only the change but the volume increase as well. No matter the general consensus, it's a fact that companies that just refine oil run on about a 9%- 12% profit margin at any given time as opposed to drug companies with extreme margins 40-50% or higher. Unfortunately energy is the main cost of everything on this planet.

Americans believe in disruptive technology and innovation. Shale oil will bankrupt naija...

scalez:
At what price please? $20.00/barrel or 50cents?

Can naija survive on $40/barrel oil?

seueh:
Who will buy the crude oil? FG should make the refinery working not increasing the production. Upon that fuel per litre is still 95naira. Naija

I know that Kaduna refinery is working.

Glad to see Bonga North West on news!
... an amazing project!
Joey rocks!

[size=20pt]Is the federal government of Nigeria still dreaming of sweet crude! They should perish the thought! Oil is going going going!! If they are wise they should start investing into the agricultural sectors. Each states that make up the Nigerian federation should start manufacturing exportable commodities that can generate revenue. We should stop importation of goods that we can manufacture locally. The products manufactured in Nigeria will meet our domestic consumption market and also create jobs for the teaming unemployed youth of Nigeria.

Our leaders are just looking for quick fix to get money. Oil has intoxicated their human sense of reasoning. But it is already a bye gone issue as far as big oil money is concern.[/size]

Can you blame them? We and Others in Opec have held them hostage with our cut troat prices. The Opec cartel drove the oil price north of $100+, they shored up the oil prices to outrageous levels overnight . OPEC has had North America by the short hairs since 1974. Jimmy Carter was President, withholding oil had Americans standing in line for 2 plus hours to get gas, and they could only fill-up on odd or even days as fuel was rationed.

North America should not stop producing shale oil, they need to produce more. OPEC should choke on their own over supply. We took their money and in our case lined private pockets with it while our counterparts in the middle east developed their country. It's time to feel the pain.

ogbonoeba:


Americans believe in disruptive technology and innovation. Shale oil will bankrupt naija...

o

naijaspeak:
[size=20pt]Is the federal government of Nigeria still dreaming of sweet crude! They should perish the thought! Oil is going going going!! If they are wise they should start investing into the agricultural sectors. Each states that make up the Nigerian federation should start manufacturing exportable commodities that can generate revenue. We should stop importation of goods that we can manufacture locally. The products manufactured in Nigeria will meet our domestic consumption market and also create jobs for the teaming unemployed youth of Nigeria.

Our leaders are just looking for quick fix to get money. Oil has intoxicated their human sense of reasoning. But it is already a bye gone issue as far as big oil money is concern.[/size]

Correct! God bless you. Truth be told, our past leaders failed us as a nation by not developing other sectors of the economy. What a shame.

Economics:- supply is inversely proportional to demand and price. So if supply is in excess then price just continues to subside my, my own opinion.