When and where was oil discovered in Nigeria?
The oil industry in Nigeria is the most extensive manufacturing and the main generator of GDP in the most populated country of the continent. When and where was oil discovered in Nigeria? You will have the answer to this question in our post below. Just read on!
When and where was oil discovered in Nigeria
Nigeria is one of the leading suppliers of oil to Western Europe and is the fifth largest supplier of crude oil to the United States. Nigerian oil supplies to the United States reached 1.2 million barrels per day, representing 9.3% of US oil imports in June 2004.
Where was oil first discovered in Nigeria? What place was the first to give oil to the country? Oil was discovered in 1901 in the Oloibiri community (now located in Bayelsa state), but industrial development of the oil field began much later in 1956. The first oil well was drilled in 1958.
READ ALSO: Top oil servicing companies in Nigeria
Photo: daypic.com
READ ALSO: List of oil and gas companies in Nigeria and their websites
After the beginning of the development of the oil industry, Nigeria became one of the leading exporting countries of this raw material. Shell, Mobil, Elf and several other international companies immediately decided to use the country's hydrocarbon resources. As a result, NOCN (National Oil Corporation of Nigeria), the main partner of joint enterprises, receives now about 75% of the proceeds from the sale of oil. The rest goes to providing technical support, salary, and payments to foreign partners.
One of the poor villages is located a few hundred meters from the huge oil field where Shell’s oil reserves are located. “We don’t have electricity,” said one resident, “but we get at least some kind of light.”
Photo: daypic.com
"Black gold" has been drilled for more than fifty years in the south of Nigeria, in the delta of the Niger River. Nigeria is one of the ten largest oil producers, but despite this, it is also one of the poorest countries in the world. Almost 70% of the population lives below the poverty line. We hope that this situation will soon change and the government will help residents of the areas located near oil wells.
READ ALSO: History of crude oil in Nigeria
Source: Legit.ng
