Shell D’arcy Exploration and the Discovery of Oil Asimportant Foreign Exchange Earnings in Ijawland Ofniger Delta , C. 1940s - 1970

Raji A. Yusuf; T. S. Abejide

doi:10.12816/0002344

Article Details

Shell D’arcy Exploration and the Discovery of Oil Asimportant Foreign Exchange Earnings in Ijawland Ofniger Delta , C. 1940s - 1970

Authors:

Raji A. Yusuf | T. S. Abejide

Publisher:

Sohar University

Main Topics:

Economics and Finance

Journal:

Oman Chapter of Arabian Journal of Business and Management Review 2013 Vol.2 Issue 11, pp.22-33

Document Type:

Article

Publication Date:

6/2013

Document Language:

English

Document ID (Org No.):

42011

Frequency:

Monthly

pISSN:

22235833

DOI:

10.12816/0002344

Descriptors:

Keywords:

Abstract:

 This article explores the processes involved during the exploration for crude oil by Shell-BP and itsdiscovery in Oloibiri Ijawland between 1946 and 1960. It argues that the granting of licences toprospective oil companies by the Federal Government was to enhance smooth production of oil togenerate revenue for the nation. At the early stage of oil discovery, agricultural exports stillcontinued to thrive in the international market until crude oil became an important foreign exchangeearner for the government in the late 1960s. The paper discusses how Shell-BP despite the civil war,had by the end of 1969 recorded a production rate of one million barrels per day. The authors arguethat the Federal Government had failed to use the profits accrued from oil toward the socioeconomictransformation of the Niger Delta areas and Nigeria at large. The level of poverty andhuman degradation within the oil-producing communities and among Nigerians, particularly theexpectations of the local people for accelerated economic and social development as a result of thecrude oil discovery in Ijawland, explains the underlying factor for the lingering crises in the NigerDelta region.

Article Details

Shell D’arcy Exploration and the Discovery of Oil Asimportant Foreign Exchange Earnings in Ijawland Ofniger Delta , C. 1940s - 1970

Authors:

Raji A. Yusuf | T. S. Abejide

Publisher:

Sohar University

Main Topics:

Economics and Finance

Journal:

Oman Chapter of Arabian Journal of Business and Management Review 2013 Vol.2 Issue 11, pp.22-33

Document Type:

Article

Publication Date:

6/2013

Document Language:

English

Document ID (Org No.):

42011

Frequency:

Monthly

pISSN:

22235833

DOI:

10.12816/0002344

Descriptors:

PETROLEUM EXPLORATION

EXCAVATION

FOREIGN EXCHANGE

PETROLEUM POLICY

CASH CROPS

ECONOMIC DEVELOPMENT

PROFITS

CORPORATIONS

NIGERIA

Exploration

Oil

Foreign Exchange

Shell-BP

Government

Issues

Article Details

Authors: Raji A. Yusuf | T. S. Abejide

Publisher: Sohar University

Main Topics: Economics and Finance

Journal: Oman Chapter of Arabian Journal of Business and Management Review 2013 Vol.2 Issue 11, pp.22-33

Document Type: Article

Publication Date: 6/2013

Document Language: English

Document ID (Org No.): 42011

Frequency: Monthly

pISSN: 22235833

DOI: 10.12816/0002344

Descriptors:

Issues

Authors:

Raji A. Yusuf | T. S. Abejide

Publisher:

Sohar University

Main Topics:

Economics and Finance

Journal:

Oman Chapter of Arabian Journal of Business and Management Review 2013 Vol.2 Issue 11, pp.22-33

Document Type:

Article

Publication Date:

6/2013

Document Language:

English

Document ID (Org No.):

42011

Frequency:

Monthly

pISSN:

22235833

DOI:

10.12816/0002344