Why innovation will drive new developments in Nigerian Oil and Gas

We've talked here before about the importance of technical innovation in the Nigerian oil and gas industry, and the fundamental part it has to play in helping this sector to grow and to develop in the coming years. The oil and gas sector is one in which operators are able to use technological innovation to really get ahead of the competition - these kind of advances allow companies to explore, extract and process oil and gas more efficiently and so increase their profit margins. And in a sector as potentially difficult and even dangerous as the oil and gas industry, any advantage that a company can leverage over the competition is crucial. But, here at Midwestern Oil we believe that technical innovation is only a small part of the picture. "Technical innovation is obviously at the heart of any successful oil and gas business," says our Chairman Onajite Okoloko. "It's what keeps us ahead in such a challenging environment. But it...
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Is increased production the way forward?

Over the last year, Nigerian oil and gas production has finally been on the rise, in the face of a more stable situation in the main oil producing areas of Delta State. The increase has now allowed to us voluntarily join the OPEC-led round of production cuts which were announced in the face of tanking global oil prices, and our country is now limiting our oil output to 1.8 million barrels per day. Overall, the rise in Nigerian production has still had a dampening effect on the global oil price however - despite OPEC's best efforts via production cuts - and this is clearly a big challenge for oil companies looking to make a profit. So is a continued rise in our domestic oil and gas production actually desirable, even if it is now possible given the more stable situation on the ground? A delicate balancing act It's clear that there is an important balance to be struck - one that is fundamentally...
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