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About 41% of planned Investment by 2050 remains targeted at fossil fuels, highlighting a clog to the wheel of energy transition.
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In 2022, Shell's Nigerian subsidiaries (SPDC & SNEPCO). paid the Nigerian government $3.04M for production entitlement, $711.85M in taxes, $691.65M in royalties, and $81.64M in fees. (Exchange rate as of 19-04-2023 was 1USD/₦461.03.)
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By the end of 2022, Shell Petroleum Development Company (SPDC) reduced carbon emissions from its operations by 30% compared with the value recorded in 2016 on a net basis
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Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCO) paid $539.31M (₦248.6B — @₦461/$) in production entitlement to the Nigerian Government in 2022.
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According to the National Bureau of Statistics (NBS) Nigeria earned N2.8 trillion in 2022, N1.9 trillion in 2021, N1.4 trillion in 2020, N1.7 trillion in 2019, N1.8 trillion in 2018 and N1.5 trillion in 2017.
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According to statistics released by the National Bureau of Statistics (NBS), there was a significant increase in Nigeria's sales of LNG, which doubled from N1.4 trillion in 2020 to N2.8 trillion in the previous year.
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Due to the increased prices of natural gas caused by the Russia-Ukraine war, Nigeria's earnings from exporting Liquefied Natural Gas (LNG) reached a six-year high of N2.8 trillion last year.
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In the first half of 2022 J out of about
267 million barrels of oil produced, a
total volume of about 15.9 million
barrels ofoil was lostto crude oil theft.
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More than 20 Nigerian shipments of crude oil for the month of April 2023 have been stranded at sea without
buyers as the country's crude oil buyer reduced demand.
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Nigeria can be a renewable superpower and still be a producer ofoil and gas. Boris Johnson, former Prime Minister of Great Britain.
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved the creation of 60 Host Community Development Trust (HCDT). Engr. Gbenga Komolafe, CEO Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
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Instead of the 2.2 million barrels per day crude oil production capacity advised by the Nigerian Upstream Regulatory Commission for 2021 for economic growth, Nigeria's production capacity stood at 1.53 million barrels per day.
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In the first quarter of 2022, a difference of 9 million barrels of crude oil was recorded between fiscalized oil production at flow stations and that received at terminals.
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In the first quarter of 2022, over nine (9) million barrels of crude oil was lost to crude oil theft amounting to an average cost of $116/barrel resulting in a loss in Government revenue of about $1 billion.
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Did you know ?
Modular refineries in Nigeria
currently have installed capacities
to process 1,000 to 30,000 barrels
per day ofcrude oil.
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