Score |
27
Akinleye Kelvin
Schooling @ STUDENT
Lagos, Nigeria
423
342
2
3
NIGERIA 🇳🇬 DISCOVER OIL🛢️
<p>Nigeria's oil discovery story began in 1903 when the Nigerian Bitumen Corporation started exploring for oil. However, it wasn't until 1956 that Shell-BP, a British-Dutch multinational, made the first commercially viable oil discovery in Oloibiri, Bayelsa State, in the Niger Delta region. This significant find marked the beginning of Nigeria's journey as a major oil-producing nation.</p><p><br></p><p>*The Discovery Process:*</p><p><br></p><p>- *Early Exploration (1903-1937)*: The Nigerian Bitumen Corporation conducted exploratory work, but operations were halted due to World War I. Shell-BP later resumed exploration in 1937.</p><p>- *First Commercial Discovery (1956)*: Shell-BP discovered oil in Oloibiri, Nigeria, marking a significant milestone in the country's oil industry.</p><p>- *Initial Production (1957-1960)*: Production began in 1957, with 847,000 tonnes of crude oil exported in 1960. Other significant oil wells discovered during this period include Afam and Bomu in Ogoni territory ¹ ².</p><p><br></p><p>*Impact on Nigeria's Economy:*</p><p><br></p><p>The discovery of oil transformed Nigeria's economy, shifting focus from agriculture to petroleum exports. Today, Nigeria is the largest oil and gas producer in Africa, with the oil sector contributing significantly to the country's GDP. The country's proven oil reserves are estimated at 16-35.3 billion barrels, making it the 10th most petroleum-rich nation globally ¹.</p>
41
Other insights from Akinleye Kelvin
Referral Earning
Points-to-Coupons
Insights for you.
Comments