Oil and gas industry in the 1990s in the producer country of Nigeria

Plans for the development of the petroleum industry in Nigeria are outlined. Oil dominates the economy, well over 80% of export earnings being derived from petroleum. The ideal would be for Nigeria to become a net exporter of processed gas and refined petroleum products and derivatives but not of crude oil thus reaping the maximum benefit of value added earnings. This goal is being pursued wherever possible. By 1996, Nigeria should possess all the major constituents of a modern oil industry state. The three modern refineries which have a total capacity of 445,000 barrels per day will have the necessary pipelines, depots and export terminals. Four petrochemical plants will produce a range of products. A gas condensate field will be in production for export and a number of plants will be producing liquefied natural gas, natural gas liquids, methanol and MTBE. To achieve these objectives for its petroleum industry, Nigeria has set up a structure for the management framework and has developed a national petroleum policy. The salient points of the policy are given. (UK)