Tag Archives: Petroleum

Organisation of Petroleum Exporting Countries (OPEC): A Chronicle of Nigeria’s Key Contributions to Its Goals and Aspirations (Published)

This study dwells extensively on Nigeria’s contributions to the attainment of the goals and aspirations of the Organisation of Petroleum Exporting Countries (OPEC) from 1971 when it became a member of the organisation till date. It relies on secondary sources of data collection obtained from textbooks, newspaper, articles, journals as well as the organisation’s website. It also utilizes Neo-liberalism as a framework for analysis. The findings which are ascertained via content analysis show that OPEC exists fundamentally to coordinate and unify petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers; ensure an efficient economic and regular supply of petroleum to consuming nations; and a return on capital to investors in the industry. And that Nigeria has contributed immensely towards meeting these goals and aspirations of the organisation either through the acceptance of the appointments of her citizens into important positions in the Organisation, including that of the Secretary General, OPEC Presidency or as host nation where lingering issues are resolved. Nigeria has also been a faithful, committed and loyal member, keeping to the rules of the organisation and assisting its planning endeavours with regular supply of up-to-date data on her petroleum sector. All these and many more have earned her great respect among member countries and beyond as her citizens are being honoured across the world for sterling performances. Finally, the study also makes some recommendations, among which are as follows: Nigeria’s contributions to the attainment of OPEC goals have been quite huge. Effort should, therefore, be intensified towards consolidating on these feats; OPEC member countries have demonstrated over and over their confidence and trust in Nigeria’s leadership by entrusting her citizens with key leadership positions, including that of Secretary General as currently occupies by a Nigerian. This gesture should be sustained as a way of recognition for her tremendous positive role in the organisation; Data is essential for effective planning. Nigeria has shown good example as one that wants OPEC to plan effectively by submitting its data timely. This effort should be emulated by other member countries to enhance appropriate planning in the organisation, etcetera.

Keywords: Exporting, Goals, Nigeria’s contributions, OPEC, Organization, Petroleum

The Political Economy of Oil Marketing In Developing Countries: An Analysis of the Politics of Petroleum and Petroleum Politics in Ghana. (Published)

This article probed the politics of subsidy in developing countries.  In spite of the adoption of neoliberal policies of capitalism where production, distribution and exchange of goods and services are supposed to be in the realm of the private sphere, most developing economies are still ingrained unrepentantly in sacrificing scarce national resources meant for infrastructural development on subsidies while scavenging for loans from the International Financial Institutions for development.  This paper focuses on Ghana’s experience of the unbridled subsidies on petroleum products in spite of the striking parallels that exist between the state’s economic resources and the sustainability of petroleum subsidies. This paper argue that Ghana’s economic challenges in recent times, and its indebtedness to Oil Marketing Companies (OMCs) are as a result of the unbridled subsidy and politicization of petroleum products since Ghana’s Fourth Republic.

Keywords: Deregulation, Marketing, Petroleum, Political Economy, Regulation, Subsidy

The Political Economy of Oil Marketing In Developing Countries: An Analysis of the Politics of Petroleum and Petroleum Politics in Ghana (Published)

This article probed the politics of subsidy in developing countries.  In spite of the adoption of neoliberal policies of capitalism where production, distribution and exchange of goods and services are supposed to be in the realm of the private sphere, most developing economies are still ingrained unrepentantly in sacrificing scarce national resources meant for infrastructural development on subsidies while scavenging for loans from the International Financial Institutions for development.  This paper focuses on Ghana’s experience of the unbridled subsidies on petroleum products in spite of the striking parallels that exist between the state’s economic resources and the sustainability of petroleum subsidies. This paper argue that Ghana’s economic challenges in recent times, and its indebtedness to Oil Marketing Companies (OMCs) are as a result of the unbridled subsidy and politicization of petroleum products since Ghana’s Fourth Republic.

Keywords: Deregulation, Marketing, Petroleum, Political Economy, Regulation, Subsidy

REWRITING CONCESSIONS AGREEMENT: NIGERIAN VIEWPOINT (Published)

This article examined the relevant legal provisions that regulate concession Agreements in the exploitation of Petroleum in the Nigerian Oil Industry. It is important to point out right from the onset that concession agreements from the basis upon which joint venture and memorandum of understanding arrangements are entered into between the Federal Government and Concession holders. In its lucid preparation text books, case law, reported and unreported, internet materials were consulted. The position envisaged that concession agreements are common with countries involved in the upstream activities in the oil industry. Usually, the concession holders are involved in key activities such as exploration, prospecting, and production in commercial quantities of petroleum.

Keywords: Exploration, Petroleum, concessions agreement, oil industry, prospecting, upstream activities

The Effect of Product Differentiation on Profitability in the Petroleum Industry of Ghana (Published)

Firms differentiate their products to avoid ruinous price competition, but performance depends crucially on the degree of location. A company’s physical product offering may be highly differentiated on features not provided by competitors in the same industry, some also differentiate their product on performance with basis on power, professional credibility etc. This research comprises 15 oil marketing companies in Ghana, which is made up of one government owned and 14 privately owned. The population is homogeneous in nature, due to the homogeneity of the population; a cluster sampling technique is used to select just a company out of the population. This selected company is Total Ghana Company. Members were selected using a non probability sampling technique specifically the purposive sampling technique. A total of 30 members were selected and administered with Questionnaires whiles others were also interviewed. The main variables of interest are product differentiation, profitability and patronage of Effimax.

Keywords: Effimax, Industry, Petroleum, Product Differentiation, Profitability