MANAGEMENT OF PETROLEUM PRODUCT SECURITY IN NIGERIA
The areas covered in this research work are:
1. Brief history of petroleum product in Nigeria
2. Scarcity of petroleum products in Nigeria
3. Causes of scarcity and strategies for managing it
4. Implication of scarcity on the Nigeria economy
Government policies and strategies for managing products scarcity.
The main objectives of this research are::
1. To ascertain the management strategies for proper implementation of economic decision to alleviate the suffering of the people with regard to product scarcity.
2. How problem associated with the variable can be mounted
3. To proffer other suggestions that can help bring sanity in the management of petroleum products in Nigeria
4. Review collections as an indept recovery scheme as they affect government polices.
1.1 BACKGROUND OF THE STUDY
The study of petroleum which is basically a mixture of crude oil and gas is attracting story theory has it that several years ago plants and animal died and their remain become buried deep beneath the earth under many tick layer of sedimentary rocks such as limestone etc. through several physical and chemical changes these organic remains formed petroleum.
Petroleum is found on land and in marine areas. The search for petroleum is an expensive and complex exercise which begins with surveys involving geological mapping rock sampling and analysis the most prominent method used in this survey is earthquakes shooting in which explosives are discharged into the ground.
They were analyzed and recorded as raw seismic data this data is processed and interpreted with the and of computer to show areas of profitable oil and goes accusation such area are then selected for further investigation through driving. When oil is discovered in commercial quantities through driving the oil is sent to station were water and gas are separated and oil is piped to refineries where it will be converted into product such as premium motor sprits (PMS) automotive gas oil (AGO) dual purpose kerosene (DPK) and other fuel oils however this study this centered on PMS AGO and DPK technically known as white products.
It is based on the above historical ground that in 1939 Shelt D Arcy petroleum development company began the search for crude oil in Nigeria.
Scheazi (1969:16) s aid that after the interruption caused by the 2nd world war from 1941-1946, these followed an intensification of the undertaking through geological ground investigation followed by appraisal based on aerial geological photography. The evidence of oil accumulation can only be obtained by or through driving operation.
In the period from list to July 1966 which was the beginning of driving activity about 627 wells were drilled. These well were concentrated in a territory south of a line drawn through Benin city Owerri and Calabar all located in the tropical rain forest and in mangrove swamps vegetation zones. Form 1959-1956 a total of 18 well were drilled (Schazi 1969:14).
All drillings in the north and east parts of eastern Nigeria which were wells drilled in the southern part of eastern region especially in Olobrir and Afan found in the Miocene deposits very promising crude oil accumulations at a dept from 9,000 to 11,000 feet form 1957-1959,shell Bp Spurured on by the discovery of crude oil in Olobiri and Afam increased the number of its drillings there are then clear concentration of drillings activity in south eastern Nigeria.