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nigeria

Oil and Gas Exports by Nation – Nigeria

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A Nigerian entrepreneur, Julius Ogor established Forcados Dredging Nigeria Limited, a multi-billion dollar company based in Lagos. As chief executive officer of the oil and gas firm, Julius Ogor manages a staff of 250 professionals dedicated to fossil fuel procurement operations.

In the mid-1950s, experts first discovered oil in Nigeria. The find was in a place called Oloibiri, in the country’s Bayelsa State. Since then, Nigeria has grown into the largest African economy thanks in part to its prolific oil production. Nigeria exports nearly 2 million barrels of crude oil per day. Complementing its oil trade, Nigeria also exported over 28 billion cubic meters of natural gas in 2018.

According to the Organization of the Petroleum Exporting Countries (OPEC), Nigeria harbors impressive, proven reserves of oil and natural gas. In terms of oil, the country’s proven reserves reach almost 37 billion barrels; and in terms of gas, the country’s proven reserves exceed 5.5 trillion cubic meters.

Official Nigerian statistics demonstrate the importance of the oil industry to the nation’s economy. The oil and gas sector makes up roughly 10 percent of the nation’s gross domestic product.

nigeria

J and L Oil and Gas Supports Oil Industry In Nigeria

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Experienced CEO Julius Ogor has made a career of founding and running several energy companies, among them J and L Oil and Gas and Forcados Dredging Nigeria Limited. Educated at California State University, Long Beach, Julius Ogor makes use of his business administration degree with a hands-on approach to management that has helped develop his firms into multi-million dollar corporations.

His company, J and L Oil and Gas, has been an active player in the Nigerian oil and gas industry since 2002, providing engineering, procurement, and construction related services. With a multitude of partnerships across the world, the company continues to grow and diversify, working with Norscot Drilling and Kronen Group, among others. It has also partnered with and provided services for such internationally renowned companies as Chevron, Total, and Shell.

In addition to the engineering and procurement services J and L Oil and Gas provides, marine and drilling support services, flowmetering, leak detection, and pipeline management solutions are also offered to its customers. J and L Oil and Gas plans to continue to grow and diversify in the coming years, hoping to become the energy company of choice in Nigeria, the rest of Africa, and beyond.

nigeria

Nigeria Plans to Double Oil Production, Triple Refining

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Julius Ogor successfully founded Forcados Dredging Nigeria Limited, an energy company based in Lagos, Nigeria. At the company, Julius Ogor oversees all offshore drilling operations as well as pipeline and fabrication services, contributing immensely to Nigeria’s oil economy.

According to Dr. Maikanti Baru, managing director of the state-run Nigerian National Petroleum Corporation, Nigeria plans to double its oil production and triple its refining capacity by 2025. The country is working with private companies to achieve these ambitious goals.

When Dr. Baru made this announcement at the end of April 2019, Nigeria was producing about 2.2 million barrels per day (mbpd) of crude oil and condensate. Doubling production would be an ambitious feat. The country’s previous production peak was 2.5 mbpd, realized midway through the previous decade.

Since then, Nigeria’s production facilities have been plagued with leaks, militant attacks, and equipment theft. The government will have to develop a working formula to curb such production losses.

The path to tripling Nigeria’s refining capacity is equally difficult. The country will have to refine 1.5 mbpd to meet its local fuel needs. Nigeria currently has a capacity of 445,000 bpd, which it struggles to achieve because its infrastructure is not well maintained. However, with a private investor already building a 650,000-bpd refinery, the country only needs other private sector players to collaborate and plug in the remaining 450,000 bpd.