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MANAGING IN THE GLOBAL ECONOMY
Transcript of MANAGING IN THE GLOBAL ECONOMY
Capital City: Abuja
Number of States: 36
Population: 160 Million
Member of Opec : Since 1971
Largest natural gas reserve and second largest oil reserve in Africa
First commercial drilling :1958 by Shell
(SENATE Joint Committee on Environment and Ecology, NOVEMBER 14, 2012,)-Highest oil spill in the world Petroleum Industry In Nigeria Eleven(11) major oil companies operating
159 oil fields and 1,481 oil wells in the Niger Delta of Nigeria
Names of Companies:
First Participation Agreement in 1973; (NNPC= 35%, Oil companies =65%)
Sixth Participation Agreement; (NNPC=55%, Shell=30%, Elf= 10%, Agip=5%) -(NNPC, 1993) Source: NNPC, 2011 BACKGROUND ON NIGER DELTA REGION (FME, et al., 2006; ANEEJ, 2004). The region composed of nine (9) states: Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Ondo, Imo and Rivers Occupation :Farming and Fishing Oil generated in the region since 1960s, is estimated to be about US$600 billion Region classified into four ecological zones; coastal inland zone, freshwater zone, lowland rainforest zone, mangrove swamp zone ENVIRONMENTAL ISSUES BACKGROUND ON NIGERIA (Bloomberg, Aug 14, 2012 10:48 AM CT) Nigeria's National Oil Spill Detection & Response
Agency asking Chevron Corp to pay $3 billion for
a rig explosion Cause
Equipment failure :- material defect, pipeline corrosion, ground erosion
Two workers killed
46 day fire ENVIRONMENTAL ISSUES (Department of Petroleum Resources Nigeria, 2004) - 88% of oil spill incidence traceable to equipment failures.
12% - vandalism, oil blowouts from the flow stations, accidental and deliberate releases and oil tankers at sea The Energetic Solution Conference (2004)- estimates that the Niger Delta region has about 123 gas flaring sites.-Discharged 45.8 billion kilo watts of heat everyday OIL SPILLAGE STATISTICS Impacts Of Oil Spillage & Gas Flaring
-Acidifies the rivers
-Marginalizing access to clean water
-stunted growth of crops
-Loss of mangrove forests
-Depletion of fish populations Impacts Of Oil Spillage & Gas Flaring Gas Flaring:
-Kills vegetation around flaring area
-Greenhouse effect and general global warming
-High concentration of acid rain
-suppresses the growth and flowering of some plants
-Toxicity to humans:
Respiratory illness ,i.e.Asthma
Neurological disease and potential death . Graphical representation of oil spillage . . Graphical representation of incidence AGENDA Background on Nigeria and the Niger Delta Region
Petroleum Industry Environmental Issues Linked to Global Work:
Gas Flaring Causes
Corruption should be address within the different arms of government.
The government should pass strict laws to regulate spillage and gas flaring.
Companies operating in the region should do periodic audits of flow stations facilities. QUESTIONS? CONCLUSIONS
Global work has its economics and social benefits but the environmental impacts sometimes outweigh the economics and social benefits.
In this case study, the Multi-nationals roles are more of exploitive instead of responsive. TEAM MEMBERS
Nerougene .B. COURSE NAME
MANAGING IN THE GLOBAL ECONOMY