• Short Summary

    THE BREAKAWAY EASTERN REGION OF NIGERIA, BIAFRA, PRODUCES SIXTY-FIVE (65) PER CENT OF NIGERIA'S OIL.?

  • Description

    THE BREAKAWAY EASTERN REGION OF NIGERIA, BIAFRA, PRODUCES SIXTY-FIVE (65) PER CENT OF NIGERIA'S OIL. IT IS NOW PLANNING AN INCREASE IN PRODUCTION DESPITE ITS PRESENT STALEMATE WITH THE FEDERAL NIGERIAN GOVERNMENT OVER WHICH BODY SHOULD RECEIVE OIL ROYALTIES FROM FOREIGN PETROLEUM COMPANIES.

    BOTH THE ENUGU GOVERNMENT AND NIGERIAN FEDERAL GOVERNMENT ARE DEMANDING PAYMENT OF SOME GBP7 MILLION STERLING IN ROYALTIES DUE ON JULY 1 THIS YEAR.

    THE SELF-STYLED REPUBLIC OF BIAFRA, WHICH RANKS TENTH AMONG THE WORLD'S OIL PRODUCERS, IS INCREASING PRODUCTION. IN 1966, 416,000 BARRELS WERE PRODUCED DAILY AND DURING THE FIRST QUARTER OF 1967, THE FIGURE ROSE TO 560,000 BARRELS DAILY. BY THE END OF THIS YEAR, 600,000 BARRELS A DAY ARE EXPECTED. EIGHT FOREIGN OIL COMPANIES ARE ENGAGED IN PRODUCTION OR EXPLORATION IN THE INDUSTRY, WHICH WAS WORTH GBP92,000,000 IN EXPORTS TO NIGERIA LAST YEAR.

    THE WELLS RANGE FROM 10,000 TO 15,000 FEET IN DEPTH AND AS EXTRACTION IS BY NATURAL PRESSURE, PUMPS ARE NOT NEEDED. BIAFRA HAS BEEN THE SOLE SUPPLIER OF THE REST OF NIGERIA'S OIL NEEDS AND REFINED PRODUCTS ARE STILL BEING SHIPPED BY SEA TO LAGOS. BUT SUPPLIES TO THE NORTHERN REGION BY RAIL HAVE BEEN STOPPED.

  • Tags

  • Data

    Film ID:
    VLVA15C8OX6N5W4U37YSBEG9PDE5J
    Media URN:
    VLVA15C8OX6N5W4U37YSBEG9PDE5J
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    27/06/1967
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:02:41:00
    Time in/Out:
    /
    Canister:
    N/A

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