Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,812 members, 7,820,843 topics. Date: Tuesday, 07 May 2024 at 10:57 PM

Nigeria Is Running Out Of Oil - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria Is Running Out Of Oil (2448 Views)

Peter Obi Is Running For Senate / Photo Of Oil River Chiefs And Their Servants In The 1890s / Buhari Is Running Away From Debates And Must Be Rejected Come Feb. 14 - PDP (2) (3) (4)

(1) (Reply) (Go Down)

Nigeria Is Running Out Of Oil by abouzaid: 8:14am On Aug 07, 2011
Seriously if we continue drilling oil at this rate,we will be out of oil in 25yrs time. Can nigeria survive with out oil to pay for our huge imports? The naira will be valueless. But i guess while egyptians use the internet to organise revolutions we use our own to carry out tribalistic insults on each other while our leaders rob us blind
Re: Nigeria Is Running Out Of Oil by Olizedo: 9:27am On Aug 07, 2011
Gooooooood!
Nigerians will go 419 full time. kiss
Re: Nigeria Is Running Out Of Oil by Arosa(m): 9:39am On Aug 07, 2011
25 year is a long time. grin grin grin
Re: Nigeria Is Running Out Of Oil by PROUDIGBO(m): 9:53am On Aug 07, 2011
Arosa:

25 year is a long time. grin grin grin

^^^ 1986 doesn't seem like a long time ago in the life of a nation does it. I wan make the oil finish quick abeg, make everybody answer im papa name.
Re: Nigeria Is Running Out Of Oil by Nobody: 9:59am On Aug 07, 2011
Some people go suffer die.
Re: Nigeria Is Running Out Of Oil by Gbawe: 10:24am On Aug 07, 2011
Matters are not even about us running out of oil alone. We should also note that the demand for oil might fall significantly in future because of the impending commercial production of electric Cars in the West. Major Car Manufacturers are already fully committed to gaining market share in the sector. The UK Government, for example, is offering grants schemes to assist in the purchase of these Cars and I will purchase one myself because electric car, as per Government incentives, make sense in the UK and things can only get better for renewable energy motoring. There is also plans to make it a legal obligation for developers to ensure properties built in future will have charging points for electric cars.

Folks should visit the website below to understand that the electric Car , and other non-petrol hybrid, is the way forward. We always fail to plan in Nigerian , because of administrative incompetence and greed , so I suspect we may be caught unaware by how technological advancement may seriously affect the demand for the only thing we seem totally focused on.

http://www.nextgreencar.com/electric-cars/
Re: Nigeria Is Running Out Of Oil by abouzaid: 3:32pm On Aug 08, 2011
Who said that 25yrs is a long time, beside, don't expect the oil to flow regularly for the next 25yrs. The hubert curve have proved that oil deposits of a nation tend to increase to a maximum point and then slowly but gradually experience fall in output. This is exactly what is happening in usa,yemen etc so i believe that nigeria's oil output will start falling by next 10 to 15yrs.already many oil wells in nigeria are empty and abandoned as the oil companies move to drill out the more difficult and expensive to exploit offshore deposits
Re: Nigeria Is Running Out Of Oil by 2mch(m): 3:36pm On Aug 08, 2011
With the way shell is moving out, it may even be a lot sooner. They have abandoned ship. grin grin grin. It will now come to the time that Nigeria's will tear thieves apart. We are getting there. The people that have stolen should start making their 10yr plans to runaway. Because once the oil runs out, they will be the new revenue generating product.
Re: Nigeria Is Running Out Of Oil by Arosa(m): 4:29pm On Aug 08, 2011
abouzaid:

Who said that 25yrs is a long time, beside, don't expect the oil to flow regularly for the next 25yrs. The hubert curve have proved that oil deposits of a nation tend to increase to a maximum point and then slowly but gradually experience fall in output. This is exactly what is happening in usa,yemen etc so i believe that nigeria's oil output will start falling by next 10 to 15yrs.already many oil wells in nigeria are empty and abandoned as the oil companies move to drill out the more difficult and expensive   to exploit offshore deposits
for your consideration,
Oil Fields Are Refilling,
Naturally - Sometimes Rapidly
There Are More Oil Seeps Than All The Tankers On Earth
By Robert Cooke
Staff Writer - Newsday.com
4-10-5

Deep underwater, and deeper underground, scientists see surprising hints that gas and oil deposits can be replenished, filling up again, sometimes rapidly.

Although it sounds too good to be true, increasing evidence from the Gulf of Mexico suggests that some old oil fields are being refilled by petroleum surging up from deep below, scientists report. That may mean that current estimates of oil and gas abundance are far too low.
Re: Nigeria Is Running Out Of Oil by abouzaid: 5:00pm On Aug 08, 2011
^^^ oil is a finite resource and it will eventually run out one day so don't hope on small scale oil seeps to provide man with an eternal supply of cheap crude oil. The first oil well in the world is in oil creek usa and it's already empty and abandoned, the first oil well in nigeria is oloibiri and it's already empty and abandoned, they should have replenished themselves. The 25yrs estimate  was published by BP itself and confirmed by nigeria's DPR. U should run google searches on "peak oil","how long will nigeria oil reserves last" and "how long the world crude oil reserves will last". You will be surprised by the search results
Re: Nigeria Is Running Out Of Oil by ranlaen: 7:08pm On Aug 08, 2011
like someone said we don't even need to wait for it to run out to lose its value drastically.
already our new gas industry has lost a major client in USA who has opted to suppliment its own needs with bio gas and struggling to gain market in china,europe,india who get direct pipeline gas from russia.
this is why we need to kill corruption and retake nigeria while we can.
waiting for oil to end/lose value is not an option.
Re: Nigeria Is Running Out Of Oil by phuckNL: 12:50am On Aug 09, 2011
By the time that happens new technologies would have emerged to tap oil in far deeper/remote areas. By that time, they'll prolly be drilling in Lagos, Ibadan, Kano and Kaduna. Look at what is happening with the Shale Plays in the US right now.
Alternative energy still has at least 50yrs before it will be able to make "any serious" significance
Re: Nigeria Is Running Out Of Oil by juman(m): 2:06am On Aug 09, 2011
25 years is tooooo long. Why not in 4 years time or so, so that everybody will go their own way.
Re: Nigeria Is Running Out Of Oil by abouzaid: 5:50am On Aug 09, 2011
^^^ ur right that the current estimates were done based on current extraction technologies but hoping on currently non existing technologies is being over optimistic and not good enough a base for national development planning. What if the oil companies were unable to develop those technologies? So far we could see that despite huge sums of money that has been poured into alternative energy in the last decade, it has failed to produce an alternative/s to crude oil. What makes u to believe that we wont equally fail to produce alternative extraction technologies in time?
Re: Nigeria Is Running Out Of Oil by Nobody: 10:09am On Aug 09, 2011
My friend, nigeria is a gas nation not an oil nation- I mean our gas deposits far out weigh our oil reserves. When we run out of oil, we will fall back on gas grin
Re: Nigeria Is Running Out Of Oil by agitator: 10:24am On Aug 09, 2011
blink182:

My friend, nigeria is a gas nation not an oil nation- I mean our gas deposits far out weigh our oil reserves. When we run out of oil, we will fall back on gas grin

and when the gas runs out we will fall back on 419 cool cool cool
Re: Nigeria Is Running Out Of Oil by Nobody: 10:28am On Aug 09, 2011
agitator:

and when the gas runs out we will fall back on 419 cool cool cool
It will not happen in our life time, oil will not even run out in our life time as its possible there are bigger offshore reserves not yet discovered. So when Nigeria runs out of oil and gas, our children or probably our great great grand children will have a dynamic solution. Who knows maybe water will truly run cars then grin grin grin
Re: Nigeria Is Running Out Of Oil by Nobody: 10:48am On Aug 09, 2011
juman:

25 years is tooooo long. Why not in 4 years time or so, so that everybody will go their own way.
abi o!
this false union needs to be dissolved A.S.A.P
we all know it's oil that is still keeping us together
Re: Nigeria Is Running Out Of Oil by Greenpro: 10:58am On Aug 09, 2011
stop spreading rumor.
Re: Nigeria Is Running Out Of Oil by adejonny: 11:30am On Aug 09, 2011
Where did you get your data from. With current recoverable reserve of over 38 billion barrel and production rate at 2.5 million barell per day, do the maths.

With inproving technology on enhanced oil recovery and more E&P activities thi reserved is projected to increases to around 40 billion barrel by 2030. Besides We have a large gas reserve so oil and gas future in Nigeria is many decades to come. Dont forget the heavy crrude deposits in Ondo basins. Also the demand for oil will continue to outweigh supply with the emerging superpowers like CHina and India.

Notwithstanding the government should start planning now for a future without oil (in 60 - 100yrs time)
Re: Nigeria Is Running Out Of Oil by juman(m): 11:47am On Aug 09, 2011
adejonny:

Where did you get your data from. With current recoverable reserve of over 38 billion barrel and production rate at 2.5 million barell per day, do the maths.

With inproving technology on enhanced oil recovery and more E&P activities thi reserved is projected to increases to around 40 billion barrel by 2030. Besides We have a large gas reserve so oil and gas future in Nigeria is many decades to come. Dont forget the heavy crrude deposits in Ondo basins. Also the demand for oil will continue to outweigh supply with the emerging superpowers like CHina and India.
Notwithstanding the government should start planning now for a future without oil (in 60 - 100yrs time)

For God sake why is Nigeria not one of the emerging superpowers??
Re: Nigeria Is Running Out Of Oil by Nobody: 11:57am On Aug 09, 2011
juman:

For God sake why is Nigeria not one of the emerging superpowers??
I believe you should be asking those in power since 1999, I saw a documentary on malaysia, how they planned their way to greatness and followed it up meticulously to date. I believe a time is coming when mega entrepreneurs will take over and rule this country without being in government.
Re: Nigeria Is Running Out Of Oil by Bliss4Lyfe(f): 12:00pm On Aug 09, 2011
The sooner we run out of oil the better. It will be interestin to see the North demand or secede from Nigeria. lollz It surely will be a deadly war, becos no way southerners will let dem go.  angry
Re: Nigeria Is Running Out Of Oil by aljharem3: 12:13pm On Aug 09, 2011
Bliss4Lyfe:

The sooner we run out of oil the better. It will be interestin to see the North demand or succeed from Nigeria. lollz It surely will be a deadly war, becos no way southerners will let dem go.  angry

Leting gini go?

u no serious

we want to go as well, better go meet the elites for ur money because ur money is not getting to us
Re: Nigeria Is Running Out Of Oil by ektbear: 12:33pm On Aug 09, 2011
juman:

For God sake why is Nigeria not one of the emerging superpowers??

Bad management. We aren't even on Indonesia's level yet, let alone China or India
Re: Nigeria Is Running Out Of Oil by Nobody: 12:44pm On Aug 09, 2011
ekt_bear:

Bad management. We aren't even on Indonesia's level yet, let alone China or India
If its about that, we are not even on the same level with benin republic in terms of management. Dead serious, its so annoying.
Re: Nigeria Is Running Out Of Oil by abouzaid: 1:21pm On Aug 09, 2011
No body is spreading rumours go to the nigerian page on wikipedia it has both the estimate from BP and the CIA world factbook. They equally made it clear that the estimates are based on low output due to violence in the niger delta and with return of peace the output will increase from 2.2mpd to 3.3mpd (50%) so it will be depleted faster. The 25yrs estimate was published by the department of petroleum resources. U should google it. Update goodluck jonathan wrote on his facebook account on july 27 that nigeria is now the second largest crude oil exporter in OPEC, an impressive rise from our seventh position last year. He attributed this feat to the successful amnesty program. Meaning we now pump far more than the 3.3 million barrels per day that means faster depletion of our oil reserves.  Nigeria is now the second largest crude oil exporter in OPEC, an impressive rise from our seventh position last year. He attributed this feat to the successful amnesty program. Meaning we now pump far more than the 3.3 million barrels per day that means faster depletion of our oil reserves.

(1) (Reply)

In The Wrong Place At The Wrong Time / Best Voices On Radio And Tv / Supreme Court Affirms Elections Of Ebonyi, Kwara, Nassarawa Governors

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 50
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.