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okay, okay......, give us a break now!!! Why is everyone pointing accusing fingers at existing oil producers, and most especially Nigeria, saying "Nigeria this, Nigeria that, Angola this, Angola that"

Ok, on the 2011-2012, corruption Index, How better is Kenya [The African nation that supposedly does things right}.. How better do they fare, compared to Nigeria, Even though Kenya produces no drop of Oil, at the moment??


Here is the Index, and Kenya actually Ranks WORSE, than Nigeria, even though it doesn't produce a drop of oil {Wonder what will happen, when the oil starts to flow}

143 Nigeria 2.4 2.4 2.7 2.2 2.2 1.9 1.6 1.4 1.6
143 Russia 2.4 2.1 2.1 2.1 2.5 2.4 2.8 2.7 2.7
143 Timor-Leste 2.4 2.5 2.2 2.6 2.6
143 Togo 2.4 2.4 2.7 2.3 2.4
143 Uganda 2.4 2.5 2.6 2.8 2.7 2.5 2.6 2.2 2.1
152 Tajikistan 2.3 2.1 2.0 2.1 2.2 2.1 2.0 1.8
152 Ukraine 2.3 2.4 2.5 2.7 2.8 2.6 2.2 2.3 2.4
154 Central African Republic 2.2 2.1 2.0 2.0 2.4
154 Republic of the Congo 2.2 2.1 1.9 2.1 2.2 2.3 2.3 2.2
154 Côte d'Ivoire 2.2 2.2 2.0 2.1 1.9 2.0 2.1 2.7
154 Guinea-Bissau 2.2 2.1 1.9 2.2
154 Kenya 2.2 2.1 2.1 2.1 2.2 2.1 2.1 1.9 1.9
154 Laos 2.2 2.1 2.0 1.9 2.6 3.3
154 Nepal 2.2 2.2 2.7 2.5 2.5 2.5 2.8
154 Papua New Guinea 2.2 2.1 2.0 2.0 2.4 2.3 2.6 2.1
154 Paraguay 2.2 2.2 2.4 2.4 2.6 2.1 1.9 1.6 1.7
154 Zimbabwe 2.2 2.4 1.8 2.1 2.4 2.6 2.3 2.3 2.7
155
156
157
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.Etc Etc

So PLEASE, cut us a slack, Nigeria shouldn't be the subject of all your country bashing sessions!!
 

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Apache Corp. To Drill Kenya’s First Deepwater Oil Well

Posted on July 11, 2012 09:54 am under Business, Energy, Strategies & Solutions
Enlarge image

VENTURES AFRICA – U.S. second-largest independent oil and natural-gas producer by market value, Apache Corp. (APA) has said it will drill Kenya’s first deepwater oil well next month that could add a $70 billion crude find to the record natural-gas discoveries along East Africa’s coast.

According to Apache, Mbawa well could strike oil based on seismic data and slicks observed on Indian Ocean’s surface. The drilling’s target of 700 million barrels is twice Kenya’s annual economic output.

With a 50 percent a stake in the well, a strike could add more than 10 percent to Apache’s oil reserves. Tullow is Apache’s partner in the drilling project. It’s Chief Financing Officer, Ian Springett in a telephone interview with Bloomberg described the interest of the company.

“What we are looking at in this well is to see if we can actually change the paradigm. It’s a high-risk, high-upside well,” he said.

Apache will operate the Mbawa well in the L8 Block. The Deepsea Metro 1 rig will take about two months to drill to the 3,250-meter (10,663-feet) target depth at a cost of more than $60 million. The partners may follow up with the Tai well, which could hold 500 million barrels of oil resources.
http://www.ventures-africa.com/2012/...ater-oil-well/
 

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Discussion Starter · #44 ·
Here is the Index, and Kenya actually Ranks WORSE, than Nigeria, even though it doesn't produce a drop of oil {Wonder what will happen, when the oil starts to flow}


So PLEASE, cut us a slack, Nigeria shouldn't be the subject of all your country bashing sessions!!
You will be better served by pointing out how your oil wealth has been used to better the lives of your people instead of singling out Kenya for a fight. I believe you will lose miserably at the latter.

The reason many people will cite Nigeria as an example of mismanagement is the fact that despite the fact it is among the world’s biggest oil producers, over 62% of the population live under $1.25. You have to admit this is extremely difficult to comprehend. The figure stands at 19.72% in Kenya. That is a perception index and not representative of flows and it varies wildly depending on which nation has enraged Big Brother. 62% living under $1.25 in the world’s 14th largest oil producer is a better indicator of the situation on the ground. Please don’t let the legendary “Naija Attitude” cloud your judgment or view this as an attack.

We are well aware of the challenges we are faced with in Kenya and that is why we have a new constitution and better institutions to manage the little that we have. Our new constitution safeguards our rights and it is buoyed by a vigilant and well educated/ empowered population. We continue to improve our institutions and we remain VIGILANT and INSPIRED by the possibilities. The transformation is visible and if the last decade is anything to go by our vision will come to fruition.
 

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Who is singling out Kenya for a fight??? ... were you on sedatives, the last few pages??

I have no time to reply your rants, but if Kenya ranks below Nigeria , in one of the few available corrruption gauges, around town, then surely Its citizens are not in a Position to Single Nigeria out for having "light fingers" Look at Most of Africa, its is Dark dark red,....Instead of everyone concentrating on how to alleviate their individual problems, people are happy and going "gaga", on the fact that, at least they arent the most corrupt......... and pointing fingers, at countries, which they think has done a worse job.

Nigeria produces oil
Subsidizes oil for its citizens
And try to take care of 160 Million people Plus Infrastructure, with the remaining change, and revenue, from other sectors of economy.

That is not a very easy position, but surely, corruption, plays a big role in it.

OVERALL POINT BEING: Leave Nigeria out of your discussions, and discuss your 10 Billion barrels, of newly found wealth.
 

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Discussion Starter · #46 · (Edited)
Who is singling out Kenya for a fight??? ... were you on sedatives, the last few pages??

I have no time to reply your rants, but if Kenya ranks below Nigeria , in one of the few available corrruption gauges, around town, then surely Its citizens are not in a Position to Single Nigeria out for having "light fingers" Look at Most of Africa, its is Dark dark red,....Instead of everyone concentrating on how to alleviate their individual problems, people are happy and going "gaga", on the fact that, at least they arent the most corrupt......... and pointing fingers, at countries, which they think has done a worse job.

Nigeria produces oil
Subsidizes oil for its citizens
And try to take care of 160 Million people Plus Infrastructure, with the remaining change, and revenue, from other sectors of economy.

That is not a very easy position, but surely, corruption, plays a big role in it.

OVERALL POINT BEING: Leave Nigeria out of your discussions, and discuss your 10 Billion barrels, of newly found wealth.
And the chest thumping continues…..LOL You brought up the “Perception Index” and single out Kenya in your attempt to save face. As I said don’t let that legendary “Naija Attitude” cloud your mind, I am Kenyan I don’t play that game!

And I repeat:

The reason many people will cite Nigeria as an example of mismanagement is the fact that despite the fact it is among the world’s biggest oil producers, over 62% of the population live under $1.25. You have to admit this is extremely difficult to comprehend. The figure stands at 19.72% in Kenya. That is a perception index and not representative of flows and it varies wildly depending on which nation has enraged Big Brother. 62% living under $1.25 in the world’s 14th largest oil producer is a better indicator of the situation on the ground. Please don’t let the legendary “Naija Attitude” cloud your judgment or view this as an attack.
At this juncture, if you have anything meaningful to contribute to the discussion or if you can avoid your emotional outburst or better yet afford a semblance of objectivity we can continue discussing THE ISSUE AT HAND. Otherwise, your melodramatic reactions should be saved for your sub forum and spare us the country v country barbs that you are keen on sparking.
 

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^^ you are the one turning this into a country versus country, it really funny.

I have nothing to contribute to this thread, hence the reason, I stayed out the whole while...... until everyone started making Nigeria their scape goat, of course.....
cant everyone just discuss the topic, without bringing other countries into it?? :nuts:... talk about real melo-drama.
 

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Discussion Starter · #48 ·
^^ you are the one turning this into a country versus country, it really funny.

I have nothing to contribute to this thread, hence the reason, I stayed out the whole while...... until everyone started making Nigeria their scape goat, of course.....
cant everyone just discuss the topic, without bringing other countries into it?? :nuts:... talk about real melo-drama.
Just as I said, nothing meanigful to contribute! So beat it! :lol:
 

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I've always wondered how oil proceeds are spent in Nigeria. Is it corruption, gigantic population or both?

Let's wait and see how Kenya will manage the revenues in the coming months.;)
 

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I've always wondered how oil proceeds are spent in Nigeria. Is it corruption, gigantic population or both?

Let's wait and see how Kenya will manage the revenues in the coming months.;)
Distribution between States federal. After, each has to manage as he think. ;)
 

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As an aside Nigeria has a very poor tax system because they rely almost exclusively on oil revenue. The federal government budget is $30 billion for a official gdp of $200+ billion. or 15%. The real GDP is probably higher. For comparison Kenya's budget is around $15 billion for an official GDP of $35 billion or 42%. Kenya's real GDP though is probably closer to $60 billion which would bring the ratio at 25%. So basically Nigeria has HUGE problems on the tax collection side. In addition Nigerians don't want to pay tax cause the government is perceived as corrupt. The gov't can't deliver services without tax and relying only on OIL.
 

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Discussion Starter · #52 ·
Two firms triple oil estimates for Kenya- 9.3 Billion Barrels In The Rift Block Alone!!

According to a research note by Citi, Africa Oil has increased its overall prospective resource base to 9.3 billion barrels, up from 3.7 billion barrels it had estimated earlier for its total blocks. Photo/FILE

Canadian oil exploration company Africa Oil Corporation has almost tripled its estimates of quantities of oil that that the blocks it is prospecting at contain, raising fresh hope that Kenya has commercially viable quantities.

In a report released on Wednesday following its latest independent assessment by Gaffney Cline & Associates, the firm says the recent discovery of oil has resulted in a considerable increase in the geological chance of success assigned to numerous prospects and leads, most notably in Lokichar sub-basin in Turkana.


The firm is prospecting at six oil blocks, accounting for about 12 per cent of Kenya’s 47 oil blocks.

http://www.nation.co.ke/business/news/-/1006/1485952/-/3d1s8bz/-/index.html
 

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That would be the biggest single oil field in Africa I think.

Its still way too early.
Doest excite me, two words will; commercially viable.
 

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9.3 billion in just one area is impressive and there might be more oil in the rift. I think the government knows the oil is commercially viable and they are bidding there time so not to cause any outbreaks.(Oil curse)

Other areas in the country look promising, Offshore also is just full of potential
 

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guys do u have an idea speculation is an art that oil prospecting firms like to perfect it! Till today i haven't read a single report from oil prospecting websites that Kenya has "proven reserves of so and so amount that r commercial viable"! so this excitement of having reserves than Angola r just mere fantasies!
 

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Discussion Starter · #58 ·
guys do u have an idea speculation is an art that oil prospecting firms like to perfect it! Till today i haven't read a single report from oil prospecting websites that Kenya has "proven reserves of so and so amount that r commercial viable"! so this excitement of having reserves than Angola r just mere fantasies!
Choke on that you envious little twerp! :cheers::cheers::cheers:

http://www.ventures-africa.com/2012/08/africa-oils-kenya-ethiopia-oil-prospects-triple/

http://www.upi.com/Business_News/En...creases-reserve-estimates/UPI-18741345727062/

http://www.thepressreleasewire.com/....jsp?year=2012&actionFor=1655339&releaseSeq=0
 

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watch ur mouth u fool! do u know the meaning of terminologies "confirmed reserves" and "commercial viability" in oil exploration? so far only Uganda is confirmed to have oil that's why a refinery is being built! Neither Kenya nor Ethiopia have reached that stage so anything can happen! What u r reading now is high hopes and in hydrocarbons sector falls under speculations category!
 

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Discussion Starter · #60 ·
watch ur mouth u fool! do u know the meaning of terminologies "confirmed reserves" and "commercial viability" in oil exploration? so far only Uganda is confirmed to have oil that's why a refinery is being built! Neither Kenya nor Ethiopia have reached that stage so anything can happen! What u r reading now is high hopes and in hydrocarbons sector falls under speculations category!
haha dude you are obsessed! :lol::lol: You asked for links, I provided them and it seems you fear them
 
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