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Historical past Of Oil And Fuel In Nigeria

The early history (1908 – 1960) – The historical past of oil exploration in Nigeria dates back to 1908 when Nigerian Bitumen Corporation carried out exploratory work within the nation; however, the firm left the country on the onset of World Conflict I. Thereafter, license was given to D’Arcy Exploration Company and Whitehall Petroleum. Nonetheless, each corporations didn’t discover oil of economic value and returned their licenses. In 1923 new license masking 357,000 sq. miles was given to a new firm referred to as Shell D’arcy Petroleum Improvement Firm of Nigeria. The brand new agency was a consortium of Shell and British Petroleum (then often called Anglo-Iranian). The corporate started exploratory work in 1937. The consortium was granted license to discover oil all over the territory of Nigeria however in 1951 and then between 1955 and 1957, the acreage allotted to the company in the original license was lowered. Drilling activities began in 1951 and the first check effectively was drilled in Owerri area. Shell-BP in the pursuit of commercially obtainable petroleum found oil in Oloibiri, Nigeria in 1956 and came on stream producing 5,100 bpd. Production of crude oil started in 1957 and in 1960, a complete of 847,000 tonnes of crude oil was exported.

Major Dates in Early Historical past of Nigerian Oil and Gas Industry
1908: Nigerian Bitumen Co. & British Colonial Petroleum commenced operations round Okitipupa.

1938: Shell D’ Arcy granted Exploration license to prospect for oil throughout Nigeria.
1955: Mobil Oil Company began operations in Nigeria.

1956: First successful effectively drilled at Oloibiri by Shell D’Arcy
1956: Modified title to Shell-BP Petroleum Improvement Firm of Nigeria Restricted.

1958: First shipment of oil from Nigeria.
1960: Different non-British firms have been granted license to explore for oil like Tenneco

The Mid Historical past (1961 – 1990) – at this interval, Nigeria was just understanding its newest grounds as an oil exporter and developing its export market. It was during this time that commercial exploitation of the nation’s reserves started with the Nigerian Authorities introducing its first rules governing the taxation of oil trade profits wherein the earnings had been to be shared 50-50 between the federal government and the oil corporations. By the later a part of the 1960s, the Nigerian Government considered ways to make the most of the useful resource being exploited by the western international locations to develop the nation and with this thought formulated its first settlement for taking equity in one of the producing corporations, the Nigerian Agip Oil Company, jointly owned by Agip of Italy and Phillips of the United States. The choice to take up an equity stake-in effect the first step toward the creation of the NNPC-was not, nevertheless, exercised till April 1971. In 1970, the top of the Biafran battle coincided with the rise on the planet oil price, and Nigeria was able to reap instantaneous riches from its oil manufacturing.

Major Dates in Mid History of Nigerian Oil and Gas Industry
1961: Shell’s Bonny Terminal was commissioned; Texaco Overseas started operations in Nigeria.

1962: Elf began operations in Nigeria. (As Safrap), Nigeria Agip Oil Firm started operations in Nigeria

1963: Elf found Obagi area and Ubata fuel field, Gulf’s first manufacturing
1965: Agip found its first oil at Ebocha, Phillips Oil Company started operations in then Bendel State

1966: Elf started manufacturing in Rivers State piedmont natural gas hickory nc 28601 with 12,000 b/d
1967: Phillips drilled its first nicely (Dry) at Osari -I, Phillips first oil discovery at Gilli-Gilli -I

1968: Mobil Producing Nigeria Restricted) was formed, Gulf’s Terminal at Escravos was commissioned
1970: Mobil began production from 4 wells at Idoho Subject, Agip began manufacturing, Division of Petroleum Assets Inspectorate started.

1971: Shell’s Forcados Terminal Commissioned, Mobil’s terminal at Qua Iboe commissioned
1973: First Participation Agreement; Federal Government acquires 35% shares within the Oil Companies, Ashland started PSC with then NNOC (NNPC), Pan Ocean Corporation drilled its first discovery nicely at Ogharefe -I

1974: Second Participation Settlement, Federal Authorities will increase fairness to fifty five%, Elf formally changed its identify from “Safrap”, Ashland’s first oil discovery at Ossu -I

1975: First Oil lifting from Brass Terminal by Agip, DPR upgraded to Ministry of Petroleum Resources

1976: MPE renamed Ministry of Petroleum Sources (MPR), Pan Ocean commenced manufacturing via Shell-BP’s pipeline at a charge of 10,800 b/d

1977: Authorities established Nigerian Nationwide Petroleum piedmont natural gas hickory nc 28601 Corporation (NNPC) by Decree 33, (NNOC & MPR extinguished).

1979: Third Participation Agreement (all through NNPC) increases equity to 60%, Fourth Participation Settlement; BP’s shareholding nationalized, leaving NNPC with 80% equity and Shell 20% in the joint Venture, Changed name to Shell Petroleum Development Firm of Nigeria (SPDC)

1984: Agreement consolidating NNPC/Shel1 joint Venture.
1986: Signing of Memorandum of Understanding (MOU)

1988: Formation of 12 strategic business units, covering the whole spectrum of oil business operations: Nigerian Petroleum Improvement Company (NPDC), Nigerian Gasoline Company (NGC), Merchandise and Pipelines Advertising and marketing Firm (PPMC), Built-in Data Companies Limited (IDSL), Nationwide Engineering and Technical Firm Limited (NETCO),Hydrocarbon Companies Nigeria Limited (HYSON), Warri Refinery and Petrochemical Co. Restricted (WRPC), Kaduna Refinery and Petrochemical Co. Limited (KRPC), Port Harcourt Refining Co.