OVERVIEW OF THE PETROLEUM INDUSTRY reflects a picture of the author’s pact with the people of Nigeria, in which he highlights the good, the bad and the ugly sides of the oil and gas industry, revealing why the system that controls resources and cash flow, a supposed heritage, will do and has been doing everything to sustain itself. The work is an exposé into the nitty gritty of the oil and gas world in the ordinary man’s language, enabling the reader to know the organisation of the sector, from the exploration and production processes to the finances.
The book probes the petroleum sector from its core profile and covers issues on health, safety and the environment. The odious process of contracting and procurement, and petroleum marketing, show how misdirection of proceeds from foreign investments leads to non-sustainable economic trends in developing countries of oil-producing regions.
Is there a direct arrangement or an oblique system of control in the relationship between the major oil corporations and the poor oil-producing nations of the world? The author provides answers to these questions by defining what the system is in very simple terms one will never forget. He explains the rules of the game and how these rules determine who will and who will not succeed in the oil and gas industry. Everything revolves around individuals in the industry, a person-oriented structuring which reveals that the major IOCs are as well controlled by individuals who call the shots each day under the facade of company nomenclature.
The book proffers solutions to this scenario with comprehensive empowerment programmes for the masses and for professionals in the sector. Otherwise, great ruin befalls our country if we do not check the system.