Evaluating the Link between Oil Price and Macroeconomic Dynamics in Nigeria | Chapter 5 | New Advances in Business, Management and Economics Vol. 5

Crude oil exports have long been a major source of foreign exchange earnings and government income for the Nigerian economy. The volatility of the oil price and its impact on Nigerians’ economic well-being are among the country’s most pressing issues at the moment. This research explores the link between oil price fluctuations on selected macroeconomic variables in Nigeria by analyzing quarterly data from 1980 to 2022, covering a span of 42 years. The data was collected from the National Bureau of Statistics (NBS) publications, the Central Bank of Nigeria (CBN) Annual Report and Statistical Bulletin, World Bank and International Financial Statistics (IFS) of the IMF. The chosen macroeconomic indicators include Real Gross Domestic Product, Consumer Price Index, and Real Exchange Rate. The Vector Error Correction Model (VECM) was employed for analysis, and the estimation results indicated long-term interdependencies, where oil price shocks significantly influence the Real Gross Domestic Product, Consumer Price Index, and Real Exchange Rate in Nigeria. The study concluded that crude oil sales serve as the primary source of revenue and foreign earnings for Nigeria, making the economy heavily dependent on global oil prices. Consequently, most macroeconomic indicators are directly or indirectly affected by oil price fluctuations. Given that Nigeria lacks control over oil prices, the study recommended economic diversification to mitigate the adverse effects of external shocks. Specifically, the country should expand its exports beyond oil to non-oil sectors. Diversifying the economy and broadening the oil revenue base would help reduce dependence on crude oil and petroleum products. Implementing sustainable policies, which could help to improve agriculture and industrial sectors, will further shield the economy from the impact of oil price shocks.

 

Author (s) Details

Sule Magaji

Department of Economics, University of Abuja, Nigeria.

 

Ibrahim Musa
Department of Economics, University of Abuja, Nigeria.

 

Yahaya Ismail
Department of Economics, University of Abuja, Nigeria.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v5/4860

Oscillatoriales: A Potent Microalgal Group from Hydrocarbon Contaminated Waterbodies | Chapter 9 | Innovations in Biological Science Vol. 5

 

Cyanobacteria have wide physiological flexibility and are distributed in diverse ecosystems. The present investigation was conducted to enlist Oscillatoriales from different crude oil contaminated water bodies in Tinsukia district of Assam, India. Results revealed a total of 22 species of freshwater Oscillatoriales out of which genus Oscillatoria was dominant with 10 species followed by Phormidium (6), Planktothrix (3), Lyngbya (1), Kamptonema (1) and Arthrospira (1). Furthermore, a thorough detail of the systematic accounts of each of these species is included.

 

Author(s)details:-

 

Bishmita Boruah
Plant Ecology Laboratory, Department of Botany, Gauhati University, Guwahati-781014, Assam, India.

 

Partha Pratim Baruah
Plant Ecology Laboratory, Department of Botany, Gauhati University, Guwahati-781014, Assam, India.

 

Please See the book here :- https://doi.org/10.9734/bpi/ibs/v5/3399G

Correlation of Asphaltene Solvation with Stability of Crude Oil Emulsion Using Scaling Equations | Chapter 5 | Recent Developments in Chemistry and Biochemistry Research Vol. 1

Due to the simplicity of scaling equations and its applicability to colloid chemistry, the scaling theory is widely used in studying emulsion properties such as force profiles. Understanding asphaltene chemistry and the fundamental mechanisms of colloid formation has been the driving force behind much petroleum research in recent years. Scaling equations were developed for the studied samples for correlation of asphaltene solvation with stability of crude oil emulsions. The researcher used five crude oil emulsion samples from Niger Delta region of Nigeria for their study. Correlations were made for viscosity and percentage water resolved by varying the volume concentration of toluene in heptol mixture that was used as solvent for the asphaltene re-dissolution. The study shows that tuning the composition of heptol allows fine control of colloidal forces between asphaltene surfaces in an organic solvent and therefore determines the stability state of the emulsion. Statistically derived correlation equations provide for a range in the aromaticity of the crude medium for which an optimum stability is observed and therefore gives good understanding on the control of emulsion stability. Since attractive van der Waals forces are omnipresent in asphaltene/heptol system, it was interesting to investigate the variation of van der Waals forces with the solvent composition. This study indirectly investigated this force, as variation in viscosity of the emulsion since the solvation state of asphaltene was responsible for the varied viscosity of the emulsion. The study further shows that emulsion inversion can be achieved by adjusting the concentration of surfactant.

Author(s) Details:

Emmanuel J. Ekott,
Department of Chemical Sciences, Heritage Polytechnic, Eket, Nigeria.

Please see the link here: https://stm.bookpi.org/RDCBR-V1/article/view/13612

Determination of Some Biochemical Indices in Catfish from Rivers, Swamp and Commercial Fish Ponds in Oil and Non-oil Polluted Areas in Rivers and Anambra States, Nigeria: A Comparative Assessment | Chapter 9 | New Innovations in Chemistry and Biochemistry Vol. 4

 The ability of activated carbon (CSAC) and polypyrrole coated sawdust (PPy/SD) obtained from the fruit of Cordia sebestena's gardening plant material to adsorb acid orange -7 from aqueous solutions was examined. The adsorption method is a viable treatment option, particularly if the adsorbent is affordable and easily available. Variations in experimental parameters such as pH, initial dye concentration, contact time, and temperature were used to conduct batch mode adsorption investigations. The kinetic data for both adsorbents was analysed using pseudo first order and pseudo second order models at various concentrations and temperatures. Freundlich and Langmuir models were used to analyse the equilibrium data. Thermodynamic research were also taken into consideration. Finally, CSAC's performance was compared to that of PPy/SD. The experimental results showed that PPy/SD is more effective than CSAC at removing Acid Orange 7 from aqueous solutions.

Author (S) Details

F. C. Anacletus
Department of Biochemistry, Faculty of Science, University of Port Harcourt, Nigeria.

G. E. Bekibele
Department of Biochemistry, Faculty of Science, University of Port Harcourt, Nigeria.

S. C. Onuoha
Department of Biochemistry, Faculty of Science, University of Port Harcourt, Nigeria.

K. T. Nwauche
Department of Chemical Sciences (Biochemistry Unit), College of Basic and Applied Sciences, Rhema University, Nigeria.

View Book :- https://stm.bookpi.org/NICB-V4/article/view/4328

Application of Ultrasonic Velocity Profiler (UVP) in the Crude Oil Emulsion Pipeline Flow | Chapter 12 | Advanced Aspects of Engineering Research Vol. 15

 Emulsion formation is undesirable in the oil and gas industry because it affects flow regimes and behaviour, reduces crude oil quality, occupies space in the pipeline, reduces mass flow rate, requires longer retention time in separation vessels, causes corrosion to the transport system, and contaminates catalyst used in the rinsing process. However, this is inescapable because oil will always be produced in conjunction with water from the reservoir, and towards the end of the reservoir's life, with an increasing volume of water, particularly if the reservoir is fed by a water aquifer. The pipeline flow of water-in-oil (W/O) emulsions has received less attention. As a result, one of the goals of this study is to look at the development of W/O emulsions in a continuous flow loop, where the emulsification process is triggered by flow shear and turbulence effects such as pipeline constriction disturbances. The experimental portion of this investigation is carried out utilising a model lab-scale continuous flow rig with a 90° bend pipeline constriction and Bintulu crude oil. Using an ultrasonic velocity profiler (UVP) instrument, the researchers are investigating the effect of flow velocity and turbulence in the development of emulsions. The UVP study sheds light on the role of turbulence in the creation of emulsions. This will largely contribute to crude transportation, i.e. with fewer emulsions forming, because the energy required for emulsion formation may be managed appropriately with a better understanding of the roles of turbulent activities in the emulsification process.

Author (S) Details

Wong Siew Fan
Xiamen University, Malaysia.

Sharul Sham Dol
Department of Mechanical Engineering, Abu Dhabi University, Abu Dhabi, United Arab Emirates.

View Book :- https://stm.bookpi.org/AAER-V15/article/view/1748

Considering the Features of Acoustic Bathymetry of Sludge in Oil Storage Tanks | Chapter 13 | Recent Advances in Science and Technology Research Vol.4

 

The features of acoustic bathymetry of sludge in crude oil tanks are considered. Different parameters

of crude oil and sludge which are important for the selection of acoustic parameters such as sound

speed, the acoustic impedances of “oil-sludge” boundaries and sound attenuation are analyzed and

compared with experimental data. The main sources of errors of sludge volume estimation are

discussed.

Author (s) Details

Victor D. Svet

JSC “N. N. Andreyev Acoustical Institute”, Moscow, Russia.

Manel Monteiro

ITS Ltd., Aberdeen, UK and International Tank Services (Asia Pacific) PTE Ltd., Singapore City, Singapore.

Donald Sandilands

ITS Ltd., Aberdeen, UK and International Tank Services (Asia Pacific) PTE Ltd., Singapore City, Singapore.

View Book :-https://bp.bookpi.org/index.php/bpi/catalog/book/240