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Does Nigeria Have A Strategic Oil Reserve? - Politics - Nairaland

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Does Nigeria Have A Strategic Oil Reserve? by Mobinga: 1:28pm On Dec 15, 2011
No. I wouldn't expect them to since the leaders are not concerned about the future, but how to loot from the sales of the diminishing oil available. Arseholes.

However, South Africa does, including Malawi, Kenya, China, India, US, Japan, South Korea, Iran, Kuwait, Russia, Thailand amongst others.

The United States has the largest reported Strategic Petroleum Reserve with a total capacity of 727,000,000 barrels (115,600,000 m3). If completely filled, the US SPR could theoretically replace about 60 days of oil imports as the US is estimated to import approximately 12,000,000 barrels per day (1,900,000 m3/d) of crude oil.
http://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve

Nigeria's oil reserve capacity stood at "37,500,000,000" as at 2007.



http://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves

So if we're removing 2.2 mb/d (which we currently are) ; at current rates this would be finished in 45 years of supply if no new oil was found.

We should really start being less dependent on Oil, less trading of Oil, and develop some sort of repository for emergency purposes. In a centuries time everything would be gone, if there are no new oil prospects.

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