A

Why spending the money on petroleum when the price of petroleum has crashed in the world market, Government re suppose to channel the money to the Ajakuta roll and steel or Agriculture sector.

Now some people re coming wit sense. its high time we stopped refining our oil outside. #wecandoIT#

[size=14pt]No.......
Make dem com carry foreign reserve.[/size]

Thieves don come again.

I don't just trust these people at all from GEJ to the most junior official in his cabinet. They've deceived us enough.

GMB will look into the refineries, so no need for you guys to embark on this unproductive exercise.

e mean say engineering students like me, get hope for naija

Goodmorning NNPC

ole

Another drain pipe before Jonathan Ebele leaves the presidency

why is Nigeria like dis why are our so called leaders a failure to our generation dis money will b splint out n at d end of d day der will b no gud report dis was how dey say light will b meaningful at d end of it all it was worst dan b4 I'm tired of all how wish i HV money to fly out from dis mess Bleep PDP Bleep APC Bleep ALL POLITICIANS IN DIS COUNTRY THEY ARE ALL USELESS

...few weeks to the election? hahaha...

e be lyk say dem want to loot anoda money again....

Is this another jokes by Jonathan led administration just to gain more votes? Now they are updating us after Madueke promises during oil subsidy... I smell something tho.

Another 99billion down d drain.

99 wetin? Abeg stop!!! For what naa? NNPC should prize dem very well ooo

Hmmmm,we don hear. Hope it's not anoda avenue for stealing, u share d money and Nutin is being done

Are they going to do it in 6 weeks...jokers

Babaneh:
How much does it cost to build a new one if repairs could cost this much?

That is why government has no business in business. They lack the fundamentals. And the NNPC is the worst thing to have ever happened to the economy of this country. Whoever set up that criminal enterprise ought to be executed or jailed for eternity. That organisation is worse than the 'Cosa Nostra' in criminality and sworn secrecy. It stinks to high heavens. If you work or once worked there and have not repented I cannot assure you, your vacation cruise to the hottest part of hell is booked and fully paid for.

JONATHAN PLEASE LEAVE OUR REFINERY ALONE
YOUR GIMMICKS WONT WORK
BY THE TIME DIEZANI STEALS THE WHOLE 99BILLION
YOU WILL SAY STEALING IS NOT CORRUPTION
PACK YOUR BAGS AND THE NEW SHOES WE BOUGHT YOU

BACK TO OTUOKE......EEE DON DO!!!!!!


The slayer of corruption.
The terrorizer of looters.
The defender of the masses.
The no-nonsense general.
The most popular man in Nigeria.
The political enigma.
The only politician who can get millions without renting a crowd.
The man with a cult-like followership.

The persistent one!
PDP's worst nightmare.

All welcome Nigeria's incoming president
President Muhammadu Buhari. GCFR

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So if PwC had not released the audit result they won't update us....God is definitely watching these guys in HD.

Their yansh has started opening small small


Anyways, if this is as true as it sounds then I guess it's a welcomed development. It is exactly what we've been fighting for all along; they keep outsourcing while qualified professionals in-house are dying for such opportunity to make impacts. It all boils down to our leaders though, if we have loyal leaders we've definitely have loyal followers.

Yinmu

Blakjewelry:
Atleast they should be giving us update so Nigerian know what is going on

update to chop our money ..........

Blakjewelry:
Atleast they should be giving us update so Nigerian know what is going on

update to chop our money ..........

Omooba77:
The Nigerian National Petroleum Corporation on Wednesday said it had engaged the services of in-house engineers to rehabilitate the country’s three ailing refineries at a cost of $550m (N99bn), down from the $1.6bn (N288bn) presented to it by foreign contractors.

The refineries are the Port Harcourt Refining Company, Kaduna Refining and Petrochemical Company Limited and the Warri Refining and Petrochemical Company Limited.

The Group Executive Director, Refining and Petrochemicals, NNPC, Mr. Ian Udoh, stated that the corporation resolved to use indigenous engineers because it could not pay the bills of foreign contractors who were nominated by the original builders of the refineries.

Udoh spoke during a press briefing organised by the corporation to refute claims that it was indicted by the report of the forensic audit carried out on its operations by PriceWaterhouseCoopers.

He said, “For the three refineries, the estimates going with the nominees of the original builders of the refineries would have come up to $1.6bn. But we can’t afford that because we are not going to get any funding from the government for that.

“We examined the work scope and picked up the essential things that we must do to get these refineries to operate optimally at around 90 per cent of capacity. That was done and we did the pricing template; not the international rates, we used the local rates. And everything for the three refineries combined came to around $550m, which is significant, maybe up to 70 per cent reduction.

“Even the $550m is quite much. So, we amortised it over 18 months so that we will be able to swallow it in bits more easily. The 18 months started since last October and this means that early next year, the refineries should be in shape.”

He stated that the original builders of the refineries were not willing to come to Nigeria but nominated their partners to handle the turnaround maintenance of the facilities.

The partners, according to Udoh, are not willing to give post rehabilitation performance guarantee, adding that their prices were exceedingly high.

He said, “So, a new pact had to be taken, which is more affordable for the NNPC, that is, to rehabilitate all the refineries simultaneously, resorting more to what is locally available. And these include the in-house engineers and such contractors that have been working with us all these years who are familiar with the plant.

“Part of that plan is that if there is any challenging big equipment, we resort to the original manufacturers to send a representative to join our engineers on the ground to carry out whatever is needed to be done.”

Earlier in his address, the Group Managing Director, NNPC, Dr. Joseph Dawha, had explained that the $1.48bn, which PwC directed it to remit to the Federation Account, was the balance of the book value of the divested assets that were transferred to the Nigerian Petroleum Development Company, excluding taxes and royalties.

“This value is still being reconciled with the Department of Petroleum Resources,” he added.

He stated that what the DPR sent to the corporation as the estimated value of the assets was $1.847bn, out of which the NNPC paid over $300m as a token to indicate its commitment to acquiring the assets pending resolution and reconciliation by both organisations.

On why the NNPC had not been able to tackle pipeline vandalism despite installing electronic monitoring gadgets on them, the corporation’s Group Executive Director, Engineering and Technical, Mr. Adebayo Ibirogba, stated that the technology might detect immediately where a pipeline had been blown up, but the ability to respond speedily was an issue.

http://www.punchng.com/business/business-economy/nigerian-engineers-to-repair-refineries-for-n99bn-nnpc/

Awon were, IJoba Na were...

This should hopefully create the much needed employment in the engineering industry

Constructing a brand new refinery may likely cost how much? cos now dat we all know dat stealing no be corruption i need to ask

RIP refineries should these guyz lay their hands on you

Omooba77:
The Nigerian National Petroleum Corporation on Wednesday said it had engaged the services of in-house engineers to rehabilitate the country’s three ailing refineries at a cost of $550m (N99bn), down from the $1.6bn (N288bn) presented to it by foreign contractors.

The refineries are the Port Harcourt Refining Company, Kaduna Refining and Petrochemical Company Limited and the Warri Refining and Petrochemical Company Limited.

The Group Executive Director, Refining and Petrochemicals, NNPC, Mr. Ian Udoh, stated that the corporation resolved to use indigenous engineers because it could not pay the bills of foreign contractors who were nominated by the original builders of the refineries.

Udoh spoke during a press briefing organised by the corporation to refute claims that it was indicted by the report of the forensic audit carried out on its operations by PriceWaterhouseCoopers.

He said, “For the three refineries, the estimates going with the nominees of the original builders of the refineries would have come up to $1.6bn. But we can’t afford that because we are not going to get any funding from the government for that.

“We examined the work scope and picked up the essential things that we must do to get these refineries to operate optimally at around 90 per cent of capacity. That was done and we did the pricing template; not the international rates, we used the local rates. And everything for the three refineries combined came to around $550m, which is significant, maybe up to 70 per cent reduction.

“Even the $550m is quite much. So, we amortised it over 18 months so that we will be able to swallow it in bits more easily. The 18 months started since last October and this means that early next year, the refineries should be in shape.”

He stated that the original builders of the refineries were not willing to come to Nigeria but nominated their partners to handle the turnaround maintenance of the facilities.

The partners, according to Udoh, are not willing to give post rehabilitation performance guarantee, adding that their prices were exceedingly high.

He said, “So, a new pact had to be taken, which is more affordable for the NNPC, that is, to rehabilitate all the refineries simultaneously, resorting more to what is locally available. And these include the in-house engineers and such contractors that have been working with us all these years who are familiar with the plant.

“Part of that plan is that if there is any challenging big equipment, we resort to the original manufacturers to send a representative to join our engineers on the ground to carry out whatever is needed to be done.”

Earlier in his address, the Group Managing Director, NNPC, Dr. Joseph Dawha, had explained that the $1.48bn, which PwC directed it to remit to the Federation Account, was the balance of the book value of the divested assets that were transferred to the Nigerian Petroleum Development Company, excluding taxes and royalties.

“This value is still being reconciled with the Department of Petroleum Resources,” he added.

He stated that what the DPR sent to the corporation as the estimated value of the assets was $1.847bn, out of which the NNPC paid over $300m as a token to indicate its commitment to acquiring the assets pending resolution and reconciliation by both organisations.

On why the NNPC had not been able to tackle pipeline vandalism despite installing electronic monitoring gadgets on them, the corporation’s Group Executive Director, Engineering and Technical, Mr. Adebayo Ibirogba, stated that the technology might detect immediately where a pipeline had been blown up, but the ability to respond speedily was an issue.

http://www.punchng.com/business/business-economy/nigerian-engineers-to-repair-refineries-for-n99bn-nnpc/

na refinery dey cost to repair? meaning to build. new one from scratch na the full nigeria account dem go empty, another milkin of funds strategy,local engineers no mean say na employment strategy oh but looting manual

Local content fraud,however can we have the names of the engineering firm before we make our final comment

PassingShot:
Thieves don come again.

I don't just trust these people at all from GEJ to the most junior official in his cabinet.

And the hell is that we don't care about your aboki trust!!!

PassingShot:
Thieves don come again.

I don't just trust these people at all from GEJ to the most junior official in his cabinet.

And the hell is that we don't care about your a-boki trust!!!

as elections are fast approaching the PDP GOVT

is now canvasing to fix our refineries that have lying fallow

years.

its too late.

we will vote PDP out and ursher in a new party that has the political will and sincerity of pur pose to transform

these country and thats no other party than the APC led by his able and competent leader GENERAL

MOHAMMED BUHARI/OSIBANJO.

THESE A MARCH4BUHARI/OSIBANJO

SAI BUHARI