Roundtable Discussion

How Not to Incite Oil Communities in Nigeria

April 13, 2017 | Roundtable Discussion

By Egufe Yafugborhi | – Nigeria’s Vice President Yemi Osibanjo, who, like the Minister of State for Petroleum, Ibe Kachikwu, is fond of telling people what they want to hear, declared in passing that oil companies should relocate to producing environment in the Niger Delta. Flamboyantly academic and articulate, Osibanjo flatters Niger Deltans with such promissory note and it turned instant opium that incited a legion of Niger Delta activists (jobbers or genuine), groups, communities, self-imposed leaders and crusaders into harping on “oil firms must …

Why Collaboration Could Help The Niger Delta Overcome Its Difficulties

March 30, 2017 | Field Case Studies, Roundtable Discussion

By Adrian Gonzalez  – Nigeria is a country that has amassed major oil wealth, but also suffers from extreme poverty. The Niger Delta, the country’s main oil producing region is one of the areas experiencing chronic underdevelopment and environmental degradation. Nigeria is Africa’s biggest oil exporter and suffers from what’s known as the natural resource curse – a broad term that describes how resource rich countries tend to experience less economic growth. Countries rich in resources like oil are also fertile territory for corruption. Increased national corruption in turn leads to poor development. This is certainly true …

IEA: Oil Production Rising, Demand Slowing in 2017

March 17, 2017 | Roundtable Discussion

By Neftegaz | – The growing consensus that the OPEC oil cutback initiative isn’t working has been met by OPEC members insisting that their efforts combined with rising demand will result in a market rebalance – but a new forecast from the International Energy Agency on March 16, 2017, says demand is in fact slowing. An IEA report predicted that global demand growth for oil will drop from 1.6 million barrels per day (bpd) in 2016 to 1.4 million bpd this year, due to a …

World Bank Warns Libya Faces Economic Collapse

October 20, 2016 | Roundtable Discussion

By Wesley Dockery | – A recent World Bank report has claimed the Libyan economy is “near collapse” due to inflation and lack of oil production. What are Libya’s economic challenges and do Western countries harbour any responsibility to help? The report, titled “Libya’s Economic Outlook – October 2016” suggested that Libya’s lack of exploitation of its main resource, oil, is partially to blame for the country’s economic problems. Libya also faces inflation and trade deficit issues, as well as political instability due to the …

What’s Really Wrong With the Nigerian Economy?

October 05, 2016 | Roundtable Discussion

By Reginald Uwadiegwu Ibe | – High-level government officials and ranking politicians tell us that the problem with the Nigerian economy and the reasons we are in such a very deep recession are the crash in crude oil prices, renewed Niger Delta militancy and, of course, corruption. Central Bank Governor Godwin Emefiele said the other day in Lagos that a failure to save for the rainy day as well as poor monetary and fiscal policies were partly responsible for the country’s current recession. He also …

Oil Sustains Rally As Russia Returns To OPEC Negotiating Table

August 15, 2016 | Roundtable Discussion

By Irina Slav | – Russia is still negotiating an oil production freeze with OPEC, and more specifically with the organization’s number-one producer Saudi Arabia, Energy Minister Alexandr Novak said, in an interview published on Monday for Saudi newspaper Asharq al-Awsat—a move that has oil prices rising in the grasping hope that production will soon be tapered. On Monday 11:00 am EST, WTI stood up 2.25% at $45.49 while Brent, the international benchmark, climbed 2.28% at $48.04. Novak also said, as quoted by media, that Russia …

How OPEC Lost Its Iron Grip On Oil Prices

June 12, 2016 | Roundtable Discussion

By Nathan Bomey | – When his final press conference as secretary-general of the Organization of the Petroleum Exporting Countries came to an end last week, Abdallah Salem el-Badri finally addressed the whispers that have been circulating throughout the oil markets. Energy industry observers are howling that “OPEC is dead,” El-Badri acknowledged, after the group again failed to reach an agreement to cap oil production that would bolster sagging prices. His frustration was evident. “I have heard this comment maybe five, six times in my career,” he told reporters …

Buhari’s Inconsistent Management Of Fuel Subsidies Leaves Loyalists Confused

May 13, 2016 | Roundtable Discussion

By Frisky Larrmay | – Today, the picture that meets the eyes is one of a government that didn’t seem to know how to get out of the subsidy quagmire in the aftermath of a quiet policy reversal probably necessitated by prevailing circumstances and a government that doesn’t seem to know the mood and trend of thoughts among ordinary Nigerians. An  unnecessary own-goal indeed. Who doesn’t remember Muhammadu Buhari’s infamous interview before he became President? He talked elaborately about fuel subsidies, stressing very clearly that the measure …