Nigeria’s crude oil to dry up in 37 years, except…

Date: 30-11-2011 8:22 am (12 years ago) | Author: Juliet Odis
- at 30-11-2011 08:22 AM (12 years ago)
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LAGOS — EXCEPT the Federal Government urgently creates aggressive policies of hydrocarbon reserves replacement, geologists and other stakeholders in the oil sector have raised an alarm that the nation’s crude oil reserve would be totally depleted in the next 37 years precisely by 2048.

Stakeholders are currently worried that with a production output of 2.5 million barrels of oil equivalent per day, Nigeria currently depletes about 1 billion barrels of crude oil annually from its 37.2 billion barrels of hydrocarbon reserves.

This was the position of Mr. Guy Maurice, Managing Director of Total Upstream Companies in Nigeria, at the opening of the 29th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists, in Lagos, yesterday.



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Posted: at 30-11-2011 08:22 AM (12 years ago) | Upcoming
- chicco77 at 26-08-2012 07:59 AM (11 years ago)
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 Huh? Huh?
Posted: at 26-08-2012 07:59 AM (11 years ago) | Addicted Hero
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