shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Nigeria’s Oil, Condensate Reserves Stand At 36.966 Bbl In January

Nigeria’s Oil, Condensate Reserves Stand At 36.966 Bbl In January

by sam
April 24, 2023
in Oil and Gas

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country’s oil and condensate reserves as at Jan. 1, stands at 36.966 billion barrels.

This represents 31.060 billion barrels for oil and 5.906 billion barrels for condensate.

The Commission’s Chief Executive, Mr Gbenga Komolafe said this at the sixth edition of the Nigeria International Energy Summit (NIES 2023) with the theme, “Global Perspective for a Sustainable Energy Future.”

Komolafe spoke on Thursday at the Upstream Forum tagged “Pivoting Upstream Petroleum Regulations and Investments,” which dwelt on strategies on energy sustainability roadmap.

He said the Associated Gas reserves was at 102.32 Trillion Cubic Feet (TCF) while Non-Associated Gas reserves was 106.51 TCF, making the total of 208.83 TCF of Natural Gas reserves.

He said the oil and condensate reserves declined to about 0.22 per cent compared to Jan. 01, 2022, adding that figures were attributable to low exploration activities and reserves revision arising from subsurface studies in 2022.

On the other hand, the slight increase of 0.10 per cent in gas reserves over Jan. 1, 2022 reserves position was primarily attributed to the revisions arising from additional information from new wells, and field development studies.

“The Commission, empowered by the PIA, has continued to drive the upstream industry’s performance to grow reserves through deliberate oil and gas exploration, deep drilling, prospects maturation, appraisal, field studies and improved oil recovery.

“Our efforts are beginning to manifest in our gas reserves position, and we expect similar manifestation in oil reserves in the very short term,” he said.

According to Komolafe, as a country, Nigeria boasts of 37.064 billion barrels of oil with a daily production of over 1.5 million barrels of oil.

He said in terms of reserves, Nigeria ranked second in Africa, eighth in Organisation of the Petroleum Exporting Countries (OPEC) and 11th in the World.

He said on the other hand, the country ranked first in Africa, sixth in OPEC and fifteenth in the World in terms of crude oil production.

“It is interesting to note that the Gross Domestic Product (GDP) per capita for Nigeria stands at 1,998 dollars, which ranks her at 12th position amongst the OPEC member states and 22nd in Africa.

“Although crude oil contributes over 85 per cent to Nigeria’s foreign exchange earnings, its contribution to GDP is about 6.33 per cent, while Algeria’s is 10.2 per cent, Angola is 30 per cent and Libya at over 50 per cent.

“Nigeria is a nation where needs meet opportunity,” Komolafe said.

Aside the catalogued hydrocarbon potential, he said Nigeria was blessed with potential for blue energy, solar, wind, biomass as well as other sources of renewable energy to leverage the right energy mix in the energy transition regime.

Follow us on Facebook/ twitter


Related Posts

Nigeria’s Daily Crude Oil Production Drops To 937,766 bpd In September

Nigeria’s Crude Oil Export Revenue Drops by 17% to $6.68 Billion in First Two Months of 2025

June 1, 2025
President Tinubu Signs 6 IMO Instruments Of Accession

FG Rallies Stakeholders to Accelerate Nigeria’s Gas Revolution, Signs Agreement with Ten Equity Partners

June 1, 2025
The Return of Standards Organisation of Nigeria to the ports

SON Raises Concern Over Influx Of Adulterated Lubricants, Engine Oil

June 1, 2025
Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

June 1, 2025

Latest News

Clarion Shipping Unveils Nigeria’s First Indigenous Container Vessel, Targets West African, China-Nigeria Trade Routes

Clarion Shipping Unveils Nigeria’s First Indigenous Container Vessel, Targets West African, China-Nigeria Trade Routes

July 3, 2025

Customs Intercepts 111 African Parrots, Illicit Drugs In Adamawa

Oyetola Inaugurates NIWA Governing Board, Charges Members on Discipline, Development

WCO: Centre Says Adeniyi’s Leadership‘ll Deepen Nigeria Customs’ Global Collaboration

WCO: FRSC Corps Marshal Congratulates Comptroller General Of Customs On Election As Chairperson

NESREA Hails Customs Boss On Election As WCO Council Chairperson

Reps Begin Plans To Revive Baro Inland Port

BREAKING: Oyetola Inaugurates NIMASA Governing Board, Charges Members on Strategic Oversight

Apapa Customs Boss Breaks Bottlenecks: ANLCA Chairman Hails Reduction of Checkpoints, Demands More Reforms

Succession Planning: Shippers’ Council Launches Training Programme for Mid-Level Officers

SEREC Outlines Key Benefits, Strategic Advice for CGC Adeniyi on His Appointment as WCO Council Chair

MWUN, Melsmore Marine Meet To Resolve Workers’ Welfare Issues

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver The liver is a vital organ located in the right upper abdomen, playing a crucial role in metabolism, detoxification, and digestion. It’s the largest solid organ in the body and is responsible for filtering blood, maintaining blood sugar levels, regulating clotting, and synthesizing essential proteins. The liver also stores energy, removes toxins, and produces bile, which aids in digestion Liver functions: · Metabolism and Detoxification: The liver processes nutrients from the blood, breaks down and balances them, and creates essential substances for the body. It detoxifies harmful substances like drugs and alcohol, converting them into less toxic forms for excretion. The liver plays a role in the metabolism of proteins, carbohydrates, and fats. It stores glycogen (a form of glucose) and vitamins, releasing them when the body needs them. · Digestion: The liver produces bile, which is stored in the gallbladder and released into the small intestine to help digest fats. Bile also helps in the absorption of fat-soluble vitamins. · Blood Regulation: The liver regulates blood sugar levels by storing and releasing glucose. It synthesizes clotting factors, which are essential for blood clotting. It removes old red blood cells and processes bilirubin, a byproduct of red blood cell breakdown. · Other Functions: The liver plays a role in immunity, helping to fight off infections. It produces proteins that are involved in the immune response. The liver also stores iron and other essential minerals. Frequently Asked Questions About The Liver · What are the first signs of a bad liver? The initial signs of liver problems can be vague and subtle, often including fatigue, nausea, and loss of appetite. As the liver’s condition worsens, more specific symptoms may emerge, such as jaundice (yellowing of the skin and eyes), itchy skin, dark urine, and light-colored stools. Abdominal pain, especially in the upper right quadrant, can also indicate liver issues. · Where do you feel liver pain? Liver pain is typically felt in the upper right abdomen, just beneath the rib cage. It can manifest as a dull, throbbing pain, a stabbing sensation, or a general feeling of discomfort in that area. In some cases, liver pain might be felt as an ache in the right shoulder or back. · What does liver pain feel like? How liver pain feels can vary from person to person, depending on the cause. However, most people often develop one or more of the following symptoms: Dull, persistent aches in the upper abdomen A feeling of fullness or bloating Sharp, stabbing pains that come and go Tenderness when the upper abdomen is touched · What is the best way to cleanse your liver? If you haven’t been working out, start indulging in a regular exercise regime to allow the toxins to come out of your body. Yoga, going running, hitting the gym, or a simple sauna session can also prove effective. If you want a natural liver cleanse, sweating is the way to go. · How to know if the liver is swollen? What are the symptoms of an enlarged liver? You likely won’t notice an enlarged liver on your own. In some severe cases, you might notice a feeling of bloating or fullness in your belly or an ache in your upper right abdomen. · What is the best drink to flush your liver? Many citrus fruits, including lemon, can be added to water to help stimulate and flush out the liver. Lemons are high in nutrients like vitamin C and antioxidants

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition