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A Systemic Appraisal of Nigeria's Vessel-Source Compensation Regimes for Spill Victims

A Systemic Appraisal of Nigeria's Vessel-Source Compensation Regimes for Spill Victims I. INTRODUCTION The Nigerian oil industry has a long history dating back to 1956 with oil discovery and the first commercial production of crude oil by the Shell Corporation in 1958.1 It is Africa's largest producer of crude oil, with a production capacity of about 2.53 million barrels per day (bbl/d) as of 2011 estimates. However, the United States Energy Information Administration (EIA) believes that Nigeria could well produce more than 3 million bbl/d, given the right environment, considering its vast oil and gas reserves. Indeed the country is estimated to have close to 37.2 million barrels of proven oil reserves, which is mostly concentrated in the Niger River Delta, the Bight of Bonny, the Bight of Benin and the Gulf of Guinea. With its vast oil and gas wealth, the country depends heavily on hydrocarbons for revenue, which contributes up to 95 per cent of its export earnings, and 75 per cent of all government revenue in 2011.2 Nevertheless, Nigeria's oil industry has been beset by frequent and incessant oil spills emanating from several different sources, including sabotage and operational errors. Other issues that have afflicted the industry are oil tanker accidents, corrosion of pipelines and oil http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png African Journal of International and Comparative Law Edinburgh University Press

A Systemic Appraisal of Nigeria's Vessel-Source Compensation Regimes for Spill Victims

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Publisher
Edinburgh University Press
Copyright
© Edinburgh University Press 2016
Subject
Articles; African Studies
ISSN
0954-8890
eISSN
1755-1609
DOI
10.3366/ajicl.2016.0161
Publisher site
See Article on Publisher Site

Abstract

I. INTRODUCTION The Nigerian oil industry has a long history dating back to 1956 with oil discovery and the first commercial production of crude oil by the Shell Corporation in 1958.1 It is Africa's largest producer of crude oil, with a production capacity of about 2.53 million barrels per day (bbl/d) as of 2011 estimates. However, the United States Energy Information Administration (EIA) believes that Nigeria could well produce more than 3 million bbl/d, given the right environment, considering its vast oil and gas reserves. Indeed the country is estimated to have close to 37.2 million barrels of proven oil reserves, which is mostly concentrated in the Niger River Delta, the Bight of Bonny, the Bight of Benin and the Gulf of Guinea. With its vast oil and gas wealth, the country depends heavily on hydrocarbons for revenue, which contributes up to 95 per cent of its export earnings, and 75 per cent of all government revenue in 2011.2 Nevertheless, Nigeria's oil industry has been beset by frequent and incessant oil spills emanating from several different sources, including sabotage and operational errors. Other issues that have afflicted the industry are oil tanker accidents, corrosion of pipelines and oil

Journal

African Journal of International and Comparative Law – Edinburgh University Press

Published: Aug 1, 2016

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