Libyan oil exports will remain hostage to conflict

2020 ◽  
Keyword(s):  
Oil Production ◽  
Military Leader ◽  
Content Type ◽  
International Support ◽  
Oil Exports ◽  
Oil Export ◽  
Budget Crisis ◽  
Oil Sector ◽  
The Government

Significance In January, eastern-based military leader Khalifa Haftar forced the closure of oil export terminals in the Gulf of Sirte, causing oil production and exports to plummet by 80-90%. The retreat of Haftar’s forces from western Libya as units supporting the Government of National Accord (GNA) advance towards Sirte raises questions about how control of the hydrocarbons sector will evolve. Impacts Some increases in oil exports are likely, but they may be short-lived. If oil exports do not rise this year, fears of a budget crisis will grow. The NOC is unlikely to support the GNA trying to use more oil sector promises to mobilise international support, for example from Turkey.

South Sudanese oil production could remain low

2016 ◽  
Keyword(s):  
Oil Prices ◽  
Oil Production ◽  
Oil Exploration ◽  
National Unity ◽  
Content Type ◽  
Revenue Sources ◽  
South Sudanese ◽  
Oil Revenue ◽  
Oil Exports ◽  
Oil Sector

Subject The outlook for South Sudanese oil production. Significance South Sudanese exports are dominated by oil production. The end of the 2013-15 civil war and establishment of a national unity government could signal an improved outlook for the oil sector, but transportation and infrastructure barriers, low prices, a fragile peace and poor local management may hinder the sector's revitalisation efforts. Impacts Donors and the IMF will pressure authorities to increase non-oil revenue sources. No new oil exploration is likely before 2017. Further disruptions in oil production are possible. Lower oil prices will affect South Sudan more than most oil states given its overwhelming reliance on oil exports.

Uganda’s oil ambitions slip further out of reach

2019 ◽  
Keyword(s):  
Content Type ◽  
Industrial Parks ◽  
Sales Process ◽  
Oil Export ◽  
Oil Sector ◽  
The Government ◽  
Project Lead ◽  
Offshore Oil

Subject Outlook for Uganda's oil sector. Significance Uganda’s dreams of becoming an oil producer have hit another delay with the expiry of an agreement for Tullow to farm down part of its stake in the Lake Albert oilfields to Total and the China National Offshore Oil Corporation (CNOOC). Tullow will now seek a new buyer, but in the meantime Total, the project lead, has suspended work on the export pipeline element of the project. Impacts Tullow has said it will relaunch the sales process to reduce its stake and is confident of finding a buyer. Recent exploration success in Guyana will help fill the gap in Tullow’s project pipeline created by delay in Uganda. If Kenya’s planned oil export pipeline goes ahead, Uganda’s oil could yet be exported via Kenya, a route Uganda and Total rejected in 2016. The recurrent setbacks could also affect wider perceptions in the investment community as the government touts plans for industrial parks.

Iraqi Kurdistan could see oil and gas advances

2021 ◽  
Keyword(s):  
Oil And Gas ◽  
Oil Prices ◽  
Oil Production ◽  
Content Type ◽  
Oil Companies ◽  
Iraqi Kurdistan ◽  
Oil Sector ◽  
The Government ◽  
Slight Rise

Significance The oil sector managed a slight rise in oil production in 2020, despite the challenges of the pandemic and low oil prices. The KRG mostly managed to keep up payments to oil companies but did not assist Baghdad in making production cuts under the OPEC+ agreement. Impacts Combined new gas projects could meet domestic needs and potentially allow exports by the later 2020s. The government could resume payments of overdue amounts to international oil companies from this month. Talks with Baghdad will become more complex around planned elections in October 2021 and depending on legal developments with Turkey.

Iran oil sector faces slow recovery from sanctions

2015 ◽  
Keyword(s):  
Saudi Arabia ◽  
Market Share ◽  
Foreign Investment ◽  
Oil Production ◽  
Oil Industry ◽  
Slow Recovery ◽  
Content Type ◽  
Oil Exports ◽  
Oil Sector ◽  
Final Agreement

Significance Iran has agreed to restrict its nuclear programme in return for the lifting of sanctions, including on its oil and financial sectors. However, prices recovered slightly after the realisation that sanctions would take time to be lifted following the conclusion of a final agreement expected by June 30. Impacts Iranian oil production and export will increase by some 0.8 million b/d over a 6-9 month period from the start of the deal's implementation. Sanctions on Iran's repatriation of oil earnings would be lifted or suspended by US presidential waiver. Iran would seek foreign investment into its oil industry to sustain and increase production in the longer term. Increased oil exports could raise an additional 9.2 billion dollars in revenues in 2016. Saudi Arabia would avoid making production cuts in a bid to retain market share.

Ugandan leader's future power will rely on patronage

2016 ◽  
Keyword(s):  
East Africa ◽  
Content Type ◽  
Oil Export ◽  
Oil Sector ◽  
The Government ◽  
Governance Reforms

Significance Kampala's oscillation over its preferred route is adding to setbacks affecting its oil export plans, delaying anticipated revenues. The resulting fiscal squeeze is one of the several challenges facing Museveni following his return for a fifth term in office. Impacts The government will emphasise Chinese interest in the oil sector in a bid to project Museveni's economic plans as a success to voters. The falling ratio of donor aid to GNI (16% in 2004 to 8% in 2016) will reduce Western states' leverage to demand governance reforms. Uganda's importance as a security bulwark in East Africa will reduce Western states' appetite to criticise Museveni.

Libyan unity government should ease economic pressures

2021 ◽  
Keyword(s):  
Oil And Gas ◽  
Prime Minister ◽  
Oil Production ◽  
Armed Forces ◽  
Content Type ◽  
Oil Sector ◽  
The Government ◽  
Oil And Gas Sector

Significance The economy has faced major challenges recently: recurring disruptions to the oil and gas sector, state fragmentation and war between the government in Tripoli and the armed forces led by eastern commander Khalifa Haftar. Following agreements last year between Tripoli and Haftar to lift a nine-month oil blockade, oil production recovered sharply in the last quarter of 2020, reaching 1.28 million barrels per day (b/d) in December. Impacts The government may make ambitious new pledges on public and infrastructure spending. Major new projects will still be slow to materialise, though the prime minister is likely to initiate rebuilding projects. Plans for reconstruction projects will probably accelerate, but implementation will lag. The oil sector will manage infrastructure upgrades efficiently.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

scholarly journals IMPACT OF FOREIGN DIRECT INVESTMENT ON EXPORT SECTOR IN NIGERIA (1981-2018)

2020 ◽  
pp. 19-24
Author(s):  
Edeh, Chukwudi Emmanuel ◽  
Obi, Cyril Ogugua ◽  
Mbaeri, Clara Ndidiamaka ◽  
Ebite Ogochukwu Njideka
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Time Series Data ◽  
Linear Equations ◽  
Series Data ◽  
Cent Increase ◽  
Oil Export ◽  
Oil Sector ◽  
The Government ◽  
The Impact

The objective of the study is to examine the impact of FDI on exports in Nigeria for the period 1981-2018. Specifically, two linear equations were formulated to trace the impact of FDI on oil sector and non-oil sector. The explanatory variables in the study were exchange rate, GDP, degree of openness, FDI, and inflation. The ADF technique was used to test for the stationarity of the time series data. The results of the Error Correction models reveal that there is a positive and significant (P(FDI) = 0.000) relationship between FDI and oil export in Nigeria. One per cent increase in FDI leads to 0.47 per cent increase in oil export over the period under study. There is a positive and significant (P(FDI) = 0.005) relationship between FDI and non-oil export in Nigeria. One per cent increase in FDI leads to 0.31 per cent increase in non-oil export over the period under study. The impact of FDI on the oil export is higher than the non-oil sector by 0.16 per cent. The study recommends for more aggressive policies to attract FDI in the oil sector to be pursued by the government. Obstacles to doing business in Nigeria should be removed. KEYWORDS: Foreign direct investment, oil export, non-oil export

scholarly journals “Shale Revolution” in the United States as the Main Driver of the World Oil Market Transformation

2019 ◽  
Vol 12 (6) ◽  
pp. 71-93
Author(s):  
S. A. Zolina ◽  
I. A. Kopytin ◽  
O. B. Reznikova
Keyword(s):  
United States ◽  
Crude Oil ◽  
Oil Production ◽  
The United States ◽  
Oil Price ◽  
Oil Market ◽  
Oil Exports ◽  
The World ◽  
Oil Sector ◽  
The U.S

In 2018 the United States surpassed Saudi Arabia and Russia to become the largest world oil producer. The article focuses on the mechanisms through which the American shale revolution increasingly impacts functioning of the world oil market. The authors show that this impact is translated to the world oil market mainly through the trade and price channels. Lifting the ban on crude oil exports in December 2015 allowed the United States to increase rapidly supply of crude oil to the world oil market, the country’s share in the world crude oil exports reached 4,4% in 2018 and continues to rise. The U.S. share in the world petroleum products exports, on which the American oil sector places the main stake, reached 18%. In parallel with increasing oil production the U.S. considerably shrank crude oil import that forced many oil exporters to reorient to other markets. Due to high elasticity of tight oil production to the oil price increases oil from the U.S. has started to constrain the world oil price from above. According to the majority of authoritative forecasts, oil production in the U.S. will continue to increase at least until 2025. Since 2017 the tendency to the increasing expansion of supermajors into American unconventional oil sector has become noticeable, what will contribute to further strengthening of the U.S. position in the world oil market and accelerate its restructuring.  

Baghdad and Erbil policy moves may deter oil investors

2021 ◽  
Keyword(s):  
Water Injection ◽  
Oil Production ◽  
Political Stability ◽  
Kurdistan Region ◽  
Content Type ◽  
Associated Gas ◽  
Oil Sector ◽  
Bureaucratic Reform

Significance Although some important hydrocarbons projects have seen progress, both Baghdad and Erbil have made fresh moves seen as prejudicial by oil sector investors. Uncertainty continues over the authorities’ commitment to contracts, while the Kurdistan region has yet again fallen behind on payments to oil firms. Impacts Increased oil production as OPEC+ limits ease will make progress on associated gas capture and water injection more urgent. A dire electricity situation may pose a threat to political stability. Uncertainties over the upcoming elections in October and poor prospects for bureaucratic reform may further deter investment.

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