Remove 2014 Remove Crude Oil Remove Field
article thumbnail

Nigeria Oil Industry Overview

Drillers

History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration. The country’s first field began producing in 1958 at a rate of 5,100 BPD. Production grew fast, and today, Nigeria pumps close to 2 million BPD, which makes it the largest producer of crude oil in Africa.

Oil 52
article thumbnail

U.S. Fifth Circuit Greenlights Contribution Action for Purely Economic Damages Under Oil Pollution Act (OPA)

The Energy Law

9, 2017), the United States Fifth Circuit Court of Appeals held for the first time that a Responsible Party under the Oil Pollution Act of 1990 (“OPA”) has a statutory claim for contribution to recover purely economic damages from a partially liable third party. Following the spill, the U.S.

Oil 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Louisiana Department of Revenue Targets Energy Companies in Rash of Oil Severance Tax Audits

The Energy Law

The oil and gas industry has a significant and far reaching economic impact in Louisiana. According to one 2014 study, the total direct and indirect impact on the state is approximately $73.8 3] Natural resources might include, for example timber, minerals like oil and gas, coal, salt, or sulphur.

Oil 40
article thumbnail

Oil revival plan put forth by Ecuador’s president falters amid re-election effort

Oil & Gas 360º

(World Oil) – Ecuador President Daniel Noboas plan to revitalize the nations biggest oil field is crumbling as he scrambles to secure re-election weeks before a runoff vote. Production from the nations top field has fallen 15% from a 2014 peak of 560,000 barrels a day.

Oil 130
article thumbnail

Sierra Club Asks Court to Ban Use of Legacy DOT-111 Tank Cars

The Energy Law

As if crude producers and midstream transportation companies don’t already have enough problems trying to get crude oil from production fields to refineries thanks to inadequate pipeline infrastructure, tank car supply, rail safety concerns, and new regulations, they now also have to address a new, potentially market-busting lawsuit.