₦airaland Forum

And they are still wasting resources searching for more

They should do random lottery and allocate the oil block to the winners

you see hausa people kwo? they refused exploring the northern states so they can leave Nigeria when our own finish

OddsIsland:
More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages persist in the country over the years, ’FEMI ASU reports

Out of 390 oil blocks in the country, 211 are yet to be allocated by the Federal Government , latest data obtained from the Department of Petroleum Resources have shown.

With many other countries extending efforts to ramp up their oil and gas production and reserves, industry experts have voiced concerns about the lack of oil licensing rounds in Nigerian since 2008.


According to the DPR, 179 blocks have been allocated as of December 2017, comprising 111 Oil Mining Leases and 68 Oil Prospecting Licences.


Source:https://punchng.com/concerns-as-211-nigerian-oil-blocks-remain-idle/

I thought thought the Senate said 83% of oil blocks in Nigeria was allocated to northerners.
So how do you reconcile this report that over 390 oil blocks is yet to be allocated and this report; https://www.premiumtimesng.com/news/123398-83-of-nigeria-oil-blocs-owned-by-northerners-senate-committee-chair.html%3famp_markup=1
That says 83% of Nigeria’s oil block was allocated to northerners.

ProsidentBuhari:


It has been idle because we don't want to hand it over to corrupt Southerners. We need people with integrity like Tinubu, Abba Kyari, Babachir Lawal, Maina, Buratai, Obanikoro and other northerners to be in charge of it.

Haters can argue with their voters card.



~ProsidentBuhari

worst fct ever

Chinashopping84:
Then when the oil becomes worthless we will have reserve of what the world doesn't need again.Jeezzz what a waste.we sell and buy chinese rmb.

Oga, you can't become an industrial nation without oil. forget all the bullshyt green energy, it can't power up heavy industries. The white man is just trying to sabotage us

mrsage:
With the way PMB handles Nigeria. Many things will become idle...

Did you read the article at all or you are a bot that is programmed to type PMB irrespective of topics being discussed.

mrsage:
With the way PMB handles Nigeria. Many things will become idle...

People like you can even blame Buhari for the rain that refuse to fall in Tanzania, is it that the oil block where not idle before and suddenly becomes idle as Buhari became president?

ProsidentBuhari:


It has been idle because we don't want to hand it over to corrupt Southerners. We need people with integrity like Tinubu, Abba Kyari, Babachir Lawal, Maina, Buratai, Obanikoro and other northerners to be in charge of it.

Haters can argue with their voters card.



~ProsidentBuhari

Why is your life full of hatred. Wailer, you will wail to death.

Jiang:
Oga, you can't become an industrial nation without oil. forget all the bullshyt green energy, it can't power up heavy industries. The white man is just trying to sabotage us

That is what I have been trying to tell people as someone who has vast knowledge of alternative energy. Green energy is good for small domestic use (especially for developing nations like nigeria), but never for industrial purposes. Industrialization still depends heavily on fossil fuels? and will do so for decades if not centuries.

ProsidentBuhari:


It has been idle because we don't want to hand it over to corrupt Southerners. We need people with integrity like Tinubu, Abba Kyari, Babachir Lawal, Maina, Buratai, Obanikoro and other northerners to be in charge of it.

Haters can argue with their voters card.



~ProsidentBuhari

I like your sarcasm.

TroubleMaker47:
Must they lease it out?
Why can't the govt actually own all the licenses and produce the ones they can then partner with reliable multinationals to drill others!
Afterall that is d same tin all these oil barons are doing!
Very few of them actually produce themselves!

If the Nigerian government decides to actually produce crude oil itself then be ready to see the mother of all corruption!

Portable Nuclear fusion technology is being developed by a boy in his 20years in USA and a prototype as small as a table fridge produces 100MW of Electricity. The technology will be used for rocket launches, can power 25,000 homes, meet the energy needs of manufacturing corporations and can be miniaturized for electric autos etc. The technology is being scaled up. China is massively transitioning to Electric Cars and are working aggressively to transition from fossil fuel, not to mention Europe and the Americas.

The days of oil is over. It is literally over. Wake up you all smell the coffee. It will be a stigma to use fossil fuel in the next 20 years.

The black man can continue to worship the Ancestors and beg for bread.

MarianaTrench:
If the Nigerian government decides to actually produce crude oil itself then be ready to see the mother of all corruption!

The Nigerian government don't have the manpower and equipments to prospect and mine crude oil. That's why they sell oil prospecting and mining license to private corporations to do all the hard work, and only get involved in selling licences, selling the crude and sharing the profits.

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CosmoDroid:
Portable Nuclear fusion technology is being developed by a boy in his 20years in USA and a prototype as small as a table fridge produces 100MW of Electricity. The technology will be used for rocket launches, can power 25,000 homes, meet the energy needs of manufacturing corporations and can be miniaturized for electric autos etc. The technology is being scaled up. China is massively transitioning to Electric Cars and are working aggressively to transition from fossil fuel, not to mention Europe and the Americas.

The days of oil is over. It is literally over. Wake up you all smell the coffee. It will be a stigma to use fossil fuel in the next 20 years.

The black man can continue to worship the Ancestors and beg for bread.

Bulls. Dan quixotic.
Nuclear has serious environmental consequences.
Electric cars don't produce energy, they need the get the energy from some other sources - most likely fossil fuel.

Bushcollins3:
HellBwx

Haven't you heard, MMM is no longer popular??

Grow up. Get a real job like cleaning toilet.

On the topic...here is a chance for South South states to put in joint bids for the oil blocs. Simples.

wirinet:
Bulls. Dan quixotic.
Nuclear has serious environmental consequences.
Electric cars don't produce energy, they need the get the energy from some other sources - most likely fossil fuel.

Your knowledge of the subject is very limited.

The latest technology is designed around neutralization of the radioactive isotopes to become 100% stable at half-life and is contained in bullet-proof-like containment underground even if it ever leaks, which is impossible as these are encassed in the strongest metal known in the Universe, unlike the steam-turbine mechanism used by the current system that leads of radioactive spills.

You obviously also have no knowledge of the mileage of the latest models of electric cars. So, why not get friendly with the latest technologies and stop focusing on hear-say.

SunnyskyTG:
Who is the Minister of Petroleum?

Le Presido and he is on vacation, sir!

MarianaTrench:
If the Nigerian government decides to actually produce crude oil itself then be ready to see the mother of all corruption!

So the likes of Alakija, Dan etete, Ty Danjuma, Idimi etc where one individual amasses over a billion dollars from our collective oil isn't "mother of corruption" ?

Make illiteracy no kill our economy.

KidsNEXTdoor:
Niger delta is so blessed

Oga and Niger delta is inevitable Uganda?

CosmoDroid:
Your knowledge of the subject is very limited.

The latest technology is designed around neutralization of the radioactive isotopes to become 100% stable at half-life and is contained in bullet-proof-like containment underground even if it ever leaks, which is impossible as these are encassed in the strongest metal known in the Universe, unlike the steam-turbine mechanism used by the current system that leads of radioactive spills.

You obviously also have no knowledge of the mileage of the latest models of electric cars. So, why not get friendly with the latest technologies and stop focusing on hear-say.

I do know the details of the latest on neutralization of radioactive isotopes, but it's practically impossible for any nuclear facility not to produce radioactive wastes. Everything that touches a radioactive material, water, oil, containers, bolts, nuts, etc, that comes in contact with radioactive material becomes contaminated (radioactive ).
I know they are proposing using Thorium instead of uranium as nuclear fuel, because they say, it produces more energy, less harmful materials and safer, but it still does produce radioactive waste.

Forget mileage and latest technology of electric cars, the actual energy has to come from somewhere. The electric energy that charges the car has to be produced somewhere else. It must come from an electric generator powered by hydro, nuclear, solar or fossil fuel.

TroubleMaker47:
So the likes of Alakija, Dan etete, Ty Danjuma, Idimi etc where one individual amasses over a billion dollars from our collective oil isn't "mother of corruption" ?

Why are you guys so obsessed with Danjuma, Arabia, I diminished, etete and Co? You hear that over that 211 oil blocks are lying fallow and you are still talking of the ones has been allocated.
Why not bid for any of the remaining ones, so you too can join the club of oil block owners?

OddsIsland:
More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages persist in the country over the years, ’FEMI ASU reports

Out of 390 oil blocks in the country, 211 are yet to be allocated by the Federal Government, latest data obtained from the Department of Petroleum Resources have shown.

With many other countries extending efforts to ramp up their oil and gas production and reserves, industry experts have voiced concerns about the lack of oil licensing rounds in Nigerian since 2008.


According to the DPR, 179 blocks have been allocated as of December 2017, comprising 111 Oil Mining Leases and 68 Oil Prospecting Licences.

The country has seven basins, namely Anambra, Benin, Benue, Bida, Chad, Niger Delta and Sokoto.

In Anambra, 12 out of 19 blocks have not been allocated; in Benin, 39 out of 50 are open; in Benue, 41 out of 43 are still idle, while none of the 17 blocks in Bida has been allocated.

In Chad basin, 40 out of 46 blocks are open; in the oil-rich Niger Delta, 34 out of 187 blocks are still idle, while Sokoto’s 28 blocks remain unallocated.

A former President of the International Association for Energy Economics, Prof Wumi Iledare, in a telephone interview with our correspondent, noted that exploration was critical in order to increase the nation’s oil and gas reserves.

“You cannot explore if the right to prospect is not granted, and you cannot grant unless there is a bidding process. And you cannot bid if the environment is not conducive,” he said.


He added that more blocks were being awarded in other countries “even though we are more endowed than those places.”



Iledare, who is the director of Emerald Energy Institute, University of Port Harcourt, said, “In the Gulf of Mexico in the United States, they do bidding round twice a year. But the last time we did any licensing round in Nigeria was 2007.”

According to him, many of the oil blocks currently producing in Nigeria are those awarded in 1993.

“The days of discretionary awards should be over because discretionary award is a process of converting common wealth to personal wealth, and the society really doesn’t benefit from this,” he added.

A petroleum expert, Mr Bala Zakka, told our correspondent that those unallocated blocks should be awarded to serious-minded investors, “instead of allocating blocks to individuals who eventually will not have the financial muscle.”

He said, “At the end, they (the individuals) farm it out or try to look for partners, which they cannot get. For individuals to be given blocks, they must prove beyond a reasonable doubt that they have technical and financial competence.

“When you have a consortium of some financial institutions, technocrats and businessmen coming together and bidding for a block, they are likely going to sustain that block and do everything to keep it moving.”

Zakka added, “I would rather support us giving few blocks to investors who have the financial, professional and technical capabilities than giving so many blocks to people who will just keep them lying fallow.”

He said many OPLs had not been able to get to the point of being converted to OMLs because of the high level of capital required.

An OPL gives its holder the exclusive right to explore for and develop oil and gas within a defined area while an OML gives its holder the exclusive right to explore for, develop and produce oil and gas within a defined area.

To apply for an OML, an OPL licence holder will have found oil in commercial quantities and satisfied all the conditions attached to the OPL.

He said, “If you end up not finding oil in commercial quantities after prospecting, all the losses will be incurred by you. That is why we keep advising that people should not just go into the oil and gas business without having some simple education.

“By the time they now understand what it takes, they are stuck in the middle of the road; they can’t return the blocks to the government to collect their money back and they did not find people to partner with, and so they will leave the blocks fallow. That is exactly what is happening.”

An energy analyst and Partner at Bloomfield Law Practice, Mr Ayodele Oni, also lamented that the country had not done a bid round in over 10 years, saying, “I think it is important even if it is to generate more revenue for the government.”

In January this year, the Chief Executive Officer of Total, Mr Patrick Pouyanne, called on Nigeria to issue new exploration licences, saying the country’s oil and gas sector has been dormant in recent years in terms of exploration and new projects due to uncertainties and the ongoing discussions over oil industry regulation.

“I hope the new government that will come after the elections will launch new tenders for awarding new exploration licences,” Pouyanne was quoted by Reuters as saying on the sidelines of a meeting of Nigerian and French businesses in Paris.

Last week, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, decried the state of the nation’s oil industry, which he described as under-developed.

Kachikwu lamented that crude oil production in the country had been hovering around 1.9 million barrels per day and two million bpd over the past few years.

He spoke at the Nigeria Oil and Gas Opportunity Fair in Yenagoa, Bayelsa State where stakeholders examined how to maximise investments in the oil and gas industry for the benefit of the Nigerian people.

“Why is it that we continue to be under-developed in the oil and gas sector? Our production continues to hover around 1.9 million bpd and two million bpd. Why have we not been able to lead investors and producer that are operating across Africa? Why are we not taking over from the multinationals, which have been here for over 50 years?” the minister asked.

Kachikwu noted that the country had not made the most of its oil and gas resources over the years.


He said, “We should be producing over four million bpd of crude oil. We should be producing enough gas for power generation. We should have rapidly developing infrastructure. Something is fundamentally wrong in what we are doing. There is a need for us to move. Oil is going to become a fast-degenerating asset. The shale phenomenon and alternative energy are taking over the world.”

Source:https://punchng.com/concerns-as-211-nigerian-oil-blocks-remain-idle/

So oil dey all the six geopolitical zones.

Is it not better we have six or more regions controling their own natural resources?

There should be room for any group to belong to any particular region of their choice.

ERORR404:
Make dem give me one na

can u speak housa fluently?

SunnyskyTG:
Who is the Minister of Petroleum?

na one igbo man. Ordinary minister things are failing in there hand. I dis how they wont to run d country when dey become president? I laugh in german language.

wirinet:
I do know the details of the latest on neutralization of radioactive isotopes, but it's practically impossible for any nuclear facility not to produce radioactive wastes. Everything that touches a radioactive material, water, oil, containers, bolts, nuts, etc, that comes in contact with radioactive material becomes contaminated (radioactive ).
I know they are proposing using Thorium instead of uranium as nuclear fuel, because they say, it produces more energy, less harmful materials and safer, but it still does produce radioactive waste.

Forget mileage and latest technology of electric cars, the actual energy has to come from somewhere. The electric energy that charges the car has to be produced somewhere else. It must come from an electric generator powered by hydro, nuclear, solar or fossil fuel.

Your head correct jare