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Buhari Terminates Oil Swap Agreement - Politics (4) - Nairaland

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Buhari To Probe Ibe Kachikwu Over Oil Swap Deals / NNPC Finally Ends 'Dubious' Oil Swap Deals - Thecable / FG Recovers N55bn From Oil Swap Deal (2) (3) (4)

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Re: Buhari Terminates Oil Swap Agreement by jaybee3(m): 1:08pm On Aug 25, 2015
EBK2:


This is not good for Nigeria. In a country where government doesn't respect contract and Agreement, there is no hope for anyone and this will trickle down to the entire fabrics of the Nigerian Society. A Cobtract is a Contract. When NNPC goes into fresh SWAP contract, what will happen if the next administration comes and revived it?

This is not your typical contract whereby either party will face financial charges for reneging on the contract.

This is a SWAP contract
Re: Buhari Terminates Oil Swap Agreement by DropShot: 1:08pm On Aug 25, 2015
EBK2:


Governments don't exit a contract after going into it once you realise it is shortchanging you. There are consequences and those consequencies can have wide ranging implications in the society.
Govts and other corporate entities do exit contracts for various reasons. The exit clause in all contracts is there to take care of the need to exit and of course with consequences. In this case, NNPC/FG must have weighed the consequences alongside what they're currently losing. So, if exiting is a better option, why not?

It is a bad precedent and BuhariAdministration is not the first to do it but it had the golden opportunity to put a stop to it. Administrations coming to terminate contracts entered into by previous administration is killing Nigeria.
Nothing bad in discontinuing contracts that are not beneficial to a govt and her citizens.

More often than not, such contracts are entered into for personal benefits by those representing the government.

This article clearly shows that that contract shouldn't have been.
Re: Buhari Terminates Oil Swap Agreement by LasoulMacuby(m): 1:12pm On Aug 25, 2015
buskie13:
A dullard remains a dullard no matter what he does....sai Buhari

1 Like

Re: Buhari Terminates Oil Swap Agreement by nobeku: 1:13pm On Aug 25, 2015
atlwireles:


Look at this almajiri talking about hatred. After I'm done pissing on your roadside grave, I might rethink your dullard from daura. Now get the hell off my mention.
Scriptures has sorely been fulfilled by lower earthlings like you..Foolishness has been made flesh in you..You ignorance is hackproof and factory fitted!

1 Like

Re: Buhari Terminates Oil Swap Agreement by atlwireles: 1:17pm On Aug 25, 2015
[s]
nobeku:
Scriptures has sorely been fulfilled by lower earthlings like you..Foolishness has been made flesh in you..You ignorance is hackproof and factory fitted!
[/s]

Trying desperately to get my attention undecided login with more monikers and spew your rubbish, then hang yourself.
Re: Buhari Terminates Oil Swap Agreement by Rad1cal: 1:27pm On Aug 25, 2015
nobeku:
Scriptures has sorely been fulfilled by lower earthlings like you..Foolishness has been made flesh in you..You ignorance is hackproof and factory fitted!



Says a dull ediot whose only manifesto in life is to discharge utter bollocks from his ancestrally cursed oral cavity.



Go hide your sorry head in shame.
Re: Buhari Terminates Oil Swap Agreement by samofson: 1:31pm On Aug 25, 2015
Jolly good show by PMB. We need transparency in these contracts. But we should prepare for a battle in courts with these companies that won the previous contracts cause they won't seat down and just accept this without a fight.
Re: Buhari Terminates Oil Swap Agreement by Nobody: 1:55pm On Aug 25, 2015
jboy73:
Baba is going slow.


And improving Nigeria slowly.

For the first time in 3years I experience 3days uninterrupted power.


This Daura man is not intelligent that we all know!!


But thank God he surrounds himself with intelligent people.

Not the Otueke, Black hat gang man
for the past 3 years Onueke in Ebonyi State we didn't have light I don't know if we are still part of Nigeria
Re: Buhari Terminates Oil Swap Agreement by Nobody: 1:58pm On Aug 25, 2015
I hope the pedophile won't denial this by tomorrow coz he's a brain dead man who says anything that comes to his mind nd forgot it in next 30mins.


Buhari is a terrorist!!
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:08pm On Aug 25, 2015
grin
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:08pm On Aug 25, 2015
buskie13:
A dullard remains a dullard no matter what he does....sai Buhari

Read your comment and tell me you are not ashamed of yourself.

Don't post stuff online you won't be proud of saying in person..

1 Like

Re: Buhari Terminates Oil Swap Agreement by enitiObanke(m): 2:09pm On Aug 25, 2015
Unsad:
Excellent PMB always making giant strides everyday. How did we even wait this late to vote him in?

Imagine where Nigeria would have been if we had voted GMB in the 2003 general elections,..... 2003 to 2011.
For starters, GMB would have been 60yrs old at most.

1 Like

Re: Buhari Terminates Oil Swap Agreement by kuroben4real: 2:26pm On Aug 25, 2015
jboy73:
Baba is going slow.


And improving Nigeria slowly.

For the first time in 3years I experience 3days uninterrupted power.


This Daura man is not intelligent that we all know!!


But thank God he surrounds himself with intelligent people.

Not the Otueke, Black hat gang man
plzz if u want joy, real joy n happiness give ur life to christ, get rid of all this insulting people. Remember scriptures say man will give an account of all his utterances n way of life. Be blessed
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:34pm On Aug 25, 2015
good move, the original OPA (oil processing agreement) was amended by a cabal in NNPC to a new agreement (2014) that heavily favours the Marketers.
see some observed differences between the old and new agreement and judge for yourself:

S/N FORMER AGREEMENT / NEW AGREEMENT
1 Article 19: Training and Manpower Development Training and manpower development expunged
2 Recital (3) Company owns and operates a refinery Recital (3) Company has access to operational Refinery
3 Article 1(vi) Definition: business day shall mean a day when banks are open for general business in Abuja and London Definition: business day shall mean a day when banks are open for general business in Abuja, London, dubai and New York
4 Article 1(vii) Discharge Port: Within Nigeria Within Lagos Nigeria
5 Article 1(xii) Independent Inspector Jointly appointed by parties
6 Article 1 (xiv) Laycan defined Laycan not defined
7 Article 1(xxvi) Sales Date for gasoline..: within the 20th to 50th day after the bill of lading Sales Date: within the 15th to 60th day after the bill of lading
8 Article 2(iv) Delivery of product after expiry: 34,000 MT minimum Delivery of product after expiry: 15,000 MT minimum
9 Article 3(iii) Company to deliver minimum parcel of 15,000 MT of products upon PPMC request Company to deliver minimum parcel of 15,000 MT of products upon NNPC acceptance
[/b]10 Article 5: Type and quality of crude oil 10 types Type and quality of crude oil 15 types
11 Article 8: crude freight rate - Baltic Exchange London published 10 days prior to the first day of laycan crude freight rate - Baltic Exchange London published 21 days prior to the first day of laycan
12 Article 8(2)(ii)(d) “[b]in no event shall PPMC payment of freight to company exceed the actual freight incurred by Company…” Expunged
13 Article 11(viii) Company to submit irrevocable LC against the crude loaded and payment of $200,000 as penalty for failure to submit Expunged
[/b]14 Artticle 12(1)iii [b]Penalties for late delivery of Refined Products Expunged
15 Article 12.2(1)b: Five day delivery range shall commence 20 days after the Bill of lading date of the relevant Crude Oil cargo Five day delivery range shall commence 15 days after the Bill of lading date of the relevant Crude Oil cargo
16 Article 12.2(ii) Under derlivery/Make up Cargo – “the principle that any Refined Products so carried forward shall be the first Refined products to be delivered on any subsequent deliveries shall strictly apply herein” Expunged
17 Article 12.2(iii): Over- delivery provision Expunged
18 Article 12.2(iv) Pre-delivery of refined products by mutual agreement Expunged
19 Article 12.2(vii) Nomination of substitute vessel by Company “Provided that all cost associated thereto shall be borne by Company”
20 Rejection of PPMC nominated vessel by Company during STS Expunged
22 Article 12.2(ix) Company shall provide all applicable Material safety data sheets (MSDS) for refined products to be delivered to PPMC Expunged
23 Article 13.3(ii) Out Turn Quantity Measurement “for as long as the quantity variance is within industry accepted tolerance” was added
24 Article 13.3(iii) Losses – PPMC shall only pay for losses in excess of the industry tolerance of 0.5% Expunged
25 Article 13.3(iv) and (v) Custody transfer and Quality Expunged
26 Article 14.1(vii) Sales Date for refined products shall be within the range between the 20th and 50th after the crude oil Bill of Lading date Sales Date for refined products shall be within the range between the 15th and 60th after the crude oil Bill of Lading date

1 Like

Re: Buhari Terminates Oil Swap Agreement by menxer: 2:39pm On Aug 25, 2015
Let's await the Press release from the office of the Chief Wailer to counter this APC propaganda. grin

Imagine the fraud and we are celebrating GEJ, our hero.
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:40pm On Aug 25, 2015
Hizzy:
for the past 3 years Onueke in Ebonyi State we didn't have light I don't know if we are still part of Nigeria

Lol
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:41pm On Aug 25, 2015
honeric01:


How can an unintelligent man surround himself with intelligent people? does it make sense to you yourself?

What happens to "like minds attract"?

Shut up.

In Nigeria anything is possicant
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:41pm On Aug 25, 2015
Darayola:

Same in my area ooooo ......God bless PMB

Yea
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:43pm On Aug 25, 2015
nwaanambra1:


YOU ARE SO DUMB, SO DAFT, SO STVPID AND ABOVE ALL SO UNINTELLIGENT!

IF YOU ARE SMART AND INTELLIGENT, YOU WOULD AV KNOWN THAT IT TAKES A SUPER INTELLIGENT MAN TO SURROUND HIMSELF WITH VERY INTELLIGENT AND SMART PEOPLE.


BUHARI IS FAR MORE INTELLIGENT THAN ANYBODY IN YOUR LINEAGE BOTH NOW AND IN THE FUTURE! ODE! cheesy

Satan cut, damage, destroy, jam, butcher, bomb and gun your generations now and the future once that may come
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:44pm On Aug 25, 2015
Burger01:
....and who told you Buhari is not intelligent You can't compare anyone in that your lineage with Buhari's intelligence... Factundecided

Idiot, your real father
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:45pm On Aug 25, 2015
[quote author=thomasjoe post=37315407][/quote]

Do u know me somewhere?
Re: Buhari Terminates Oil Swap Agreement by carboblanko(m): 2:45pm On Aug 25, 2015
buskie13:
A dullard remains a dullard no matter what he does....sai Buhari
Douche bag.
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:45pm On Aug 25, 2015
Sweetlemon:


I would have given you a like if not for where you said he's not intelligent. It is intelligence in itself to surround yourself with intelligent people.

I don't eat your like.

Go home, carry it and fry indomie
Re: Buhari Terminates Oil Swap Agreement by nwaanambra1(m): 2:48pm On Aug 25, 2015
jboy73:


[s]Satan cut, damage, destroy, jam, butcher, bomb and gun your generations now and the future once that may come[/s]

Satan has already cut, damage, destroy, jam, butcher, bomb and gun your generations now and the future that is y all you can do to survive is o use cheap scam on innocent people! cheesy


BLOODY SCAMMER! KEEP LOOKING FOR WHO TO BUY YOUR FAKE BIS! MORAFUKA! WE WILL COME FOR PEEPS LIKE YOU IN THE THIRD PHASE OF CLEANSING - WE WILL SOON GET YOU.

BROOD OF VIPERS AND SNAKES! angry

1 Like

Re: Buhari Terminates Oil Swap Agreement by carboblanko(m): 2:50pm On Aug 25, 2015
yugoo:
Wiwith such a comment coming from you with regards to this news,its obvious you are the Dullard here.Look no further,its in you
No mind the Douche bag. Im no get sense
Re: Buhari Terminates Oil Swap Agreement by unitysheart(m): 2:50pm On Aug 25, 2015
likila:


i hope he was not mistaken for Abobaku ni

No be joke na.
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:50pm On Aug 25, 2015
nwaanambra1:


BLOODY SCAMMER! KEEP LOOKING FOR WHO TO BUY YOUR FAKE BIS! MORAFUKA! WE WILL COME FOR PEEPS LIKE YOU IN THE THIRD PHASE OF CLEANSING - WE WILL SOON GET YOU.

BROOD OF VIPERS AND SNAKES! angry

Thunder destroy your career.

Idiot, dirty pirate... Satan shiit on your dreams.

Na your father the sell data idiot. Idiot²

Baskard.
Re: Buhari Terminates Oil Swap Agreement by nwaanambra1(m): 2:53pm On Aug 25, 2015
jboy73:


[s]Thunder destroy your career.

Idiot, dirty pirate... Satan shiit on your dreams.

Na your father the sell data idiot. Idiot²

Baskard.[/s]

u dey deny your way of life now abi? don't worry we will soon gt you! ode! cheesy angry
Re: Buhari Terminates Oil Swap Agreement by Nobody: 2:54pm On Aug 25, 2015
nwaanambra1:


u dey deny your way of life now abi? don't worry we will soon gt you! ode! cheesy angry

Your father satan go get u.

Jobless pig.

Idiot. Your left yansh.

Idiot idiot idiot.
Re: Buhari Terminates Oil Swap Agreement by honeric01(m): 2:58pm On Aug 25, 2015
jboy73:


Shut up.

In Nigeria anything is possicant

Very lame reply, typical!
Re: Buhari Terminates Oil Swap Agreement by nwaanambra1(m): 2:59pm On Aug 25, 2015
jboy73:


[s]Your father satan go get u.

Jobless pig.

Idiot. Your left yansh.

Idiot idiot idiot.
[/s]

[size=14pt]MTN Bis works on Android and PC..... visit www. b o n a 9ja. com for settings
[/size]

see ur useless life? see all you do for a living - scamming innocent student's of their hard earned pocket money and u expect devil not to destroy you!

anyway sha! u obviously a destroyed person dats y u dnt knw what 'good' means!

stay off my mention b4 that okada u always jump throw u under dangote trailer!

morafuka! cheesy

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