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Nairaland Forum / Nairaland / General / Politics / I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries (7357 Views)
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I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 3:39pm On Nov 26, 2009 |
http://www.thisdayonline.com/nview.php?id=159697 http://allafrica.com/stories/200911130003.html Investment in the downstream sector, particularly in refinery projects, is now the condition for issuance and renewal of concessions and oil licences to International Oil Companies (IOCs) in Nigeria. Responses of Nigerians FG: Oil Companies Must Build Refineries By Chika Amanze-Nwachuku in Lagos and Onyebuchi Ezigbo in Abuja, 11.13.2009 COMMENTS Mohammed Abubakar UK 11.16.2009 01:07 Wow. Now we are talking Mr. President. This is a very good policy development. This is what we want to see, policies that have the nigerian citizenry and the nation at its heart. This will lead to the creation of employment opportuniies and also lead to the industrialisation of Nigeria. I wish you success. God Bless Nigeria and Nigerians. Ola 11.15.2009 17:22 Great job Mr president and good follower, except PDP leader. Great job, AC and other parties, I will make sure i campagn against PDP till the last breath in me, I am sorry Mr president and his good team mate but and others {NIGERIANS} are tired of PDP ruling us so PDP MUST GO, I LOVE YOU MR PRESIDENT PLEASE BEAR WITH ME. Joseph Davies 11.15.2009 08:14 GREAT!!! That’s it. If implemented to the letter, it definitely would have a multiplier effect that will expedite the MDGs. Knowledge + Vision + Productivity = A Durable Legacy of the Yar Adua’s administration… Barka, Mr. President. The Founder’s Desk, NCCIJ tonyaloz 11.15.2009 03:11 Some intelligent people are now running the Nigerian project I guess. The interest of Nigeria first always. Prof. Victor A. Obajuluwa, PT, PhD (USA) 11.14.2009 07:10 This is a good policy prescription. However, the implemention is another story altogether. While the oil companies must be encouraged or forced to build as many refineries as possible, that may not be enough to sustain Nigeria as we leap into the ever-changing technological realities of the future - to prevent the looming disaster of global warming and environmental degradation. The modern trend of future planning for sustainable development that has taken hold here in the USA is energy sustennance by diversification into energy sources that do not rely solely on burning fossil fuel with the unpleasant consequences of carbon dioxide greenhouse emission. The new trend? New investments in solar, hydro and wind power that could be natural sources of energy while gradually phasing out the total reliance on fossil fuels. In addition, new electric/gas hybrid, pure electric, and pure hydrogen reliant autombiles are now the trend. Nigeria should concentrate more on looking forward rather than backwards. While a few glances backwards may help us to go straight into the future without tripping or falling, it should not be all we do as is the practice at all levels of policy prescription at present. May God bless us with leaders that are blessed with the discerning Spirit of God Almighty. Amen. Hon. (Ms.) Tomi Soboyejo 11.14.2009 04:23 \"What does it take for Nigeria to link petroleum refinery development to crude oil lifting by the (brazen-faced) oil exploitation companies.\" For continued oil lifting of Bleep million barrels, every 3-5 years, the oil companies should each build petroleum refinery of say 100,000 b/d, on the same basis of JV as they do JV for crude production with NNPC (or whatever it is called now). Libya does that and now has many petroleum and petrochemical facilities selling finished products to Europe. Refined products are locally guaranteed, and employment too. Their citizens and professionals stay in the country. There are so many Nigerians from Alberta-Canada, working in Libya. In the case of Venezuela, President Chaves has embarked on 100% nationalization of the industry, yet the Shell, Chevron, Exxon, are still there saying \'yes sir to him\'. Am glad for the new direction. Tomi Soboyejo; a former member of Federal House of Reps. Mikky 11.13.2009 22:37 I admire this initiative, however, the statement says that currently the refineries are \"dead\", meaning they were alive once but maintenance was not carried out, hence their death. Oil companies might invest in the refineries, but the maintenance of the refineries is what is paramount. Will they be dead again in the near future? What is in place to ensure regular and sustained maintenance? Would it be government funding or would a special tax be levied e.g introduction of a refinery developement tax as we currently have education tax and information technology tax. Government should plan ahead, it is not just setting up these necessary infrastructure, their maintenance which assists the durability is as well important. Sunday Ayinmoro 11.13.2009 22:01 We have this option of making it a mandate for International Oil Companies to invest in the downstream sector, why did it take complete three decades for someone to even think of it? Now that they have made it a condition, how soon will they build those refineries? These IOCs and their collaborators will continue to milk our commonwealth until resource creator, God, we make them pay painfully though. adrian 11.13.2009 21:18 This is a welcome development. How come nobody thought of this before now?! The international oil companies have had a free-lunch spree all these years and it\'s time to put paid to that. No government, especially one that has been tested and failed woefully in the last 30 or so years to take us to uhuruland should be involved in business; their involvement at best should be regulatory. The government of President Yar\'Adua should level the playing field and watch Nigerians turn the economy around. Nobody should be afraid of deregulation of any sector; that is indeed the panacea for our long suffered migrain which cannot be cured by any alabukun or BC powder. Look at the gains in the telecom sector. Again, consider the recent declaration that construction in Nigeria is to become the world\'s fastest growing: only a \'fool\' would not see the inherent opportunities, what with the role construction plays in economic growth and development and the \'trickle-down\' effect it guarantees. Even football (soccer) is another gold mine which we overlook. Our Eaglets are set to make more history come Sunday, what will happen to the young players that fail to make it to top clubsides in the world? My guess is that they might fizzle out for want of a strong and organized local league to fall back on to be later \'sold\' for the benefit of the player, local clubside and country. We can do this! We have the \'can-do\' spirit and we are strategically placed in the African continent to be the darling bride of international business. Let us join hands and make this happen. Ya gazie! GIDEON OGBEIDE U S A 11.13.2009 21:06 Now the Yar\'Ardua Administration is doing what ought to have been the principle of the oil mining in Nigeria since more that 40 years ago. Nigeria will now creat the largest employment in this industry to tone of million jobs. The petrochemical subs of this industry alone will keep Nigeria in full employment level. Crime rate will drop dramatically. Standard of living on aggregate will improve and the giant of Africa will take a giant step. This principle could be extended into other industries. this talk must be put into action by the National Assembly as an Act of Congress. Ola 11.13.2009 18:57 Seems the Nigeria Govt. is waking up from it\'s long years of sleep. Let us see how far this proposal goes, Lawrence 11.13.2009 18:49 The Government should just go straight to the point and show us ACTION. We are tired of \'\'we will\'\' statements. If they can make this happen, then that is one achievement of this administration. emeka k duru 11.13.2009 16:57 This is a new direction by the Presidency,it must be hailed. NLC must in the words of JFK,\" not fear to negotiate or negotiate out of fear\". If Yar\'adua continues in this part,the effect would rob off on the whole polity,especially those talking down on Nigerians. John Williams 11.13.2009 16:48 God Bless Nigeria! and God bless this administration. If this is implemented successfully there will be sanity in Oil Industry and Nigerian will not suffer again from fuel scarcity.Although 30 years late!! patrick kola 11.13.2009 16:45 it is only proper that the oil industry is in competent hands and to this end full privatisation should be the only option. refineries are crucial and everyone should be allowed to own and run refineries. speed must be the buzz word Nduka Tolefe 11.13.2009 16:11 About time this has gone on for far too long, i hope the Nigerian government isn\'t just talking for talk sake. Chinedu 11.13.2009 15:57 While i think it is a good step to insisting IOC\'s build refineries,the authorities should ask themselves why \"if building these refineries will be profitable to these coys,then why have they not done so\" it\'a all about the bottomline and the authorities should ensure policies and necessary conditions are in place such that building/operating a refinery in Nigeria makes economic sense.It\'s all about the dollars at the end of the day. Cosmas 11.13.2009 15:15 This is a laudable step and must be rigorously analysed for implementation. If oil majors are very enthusiastic to invest in LNG projects, they should fancy investing in refineries. The status quo (oil producing and oil consuming countries) no more suffices and our government must make a strong effort to change that. MUHAMMAD JAMIU KAYODE 11.13.2009 12:50 this is the right step at the right time, if the government is sincere Ibok, J.O 11.13.2009 12:32 I think given a condusive business environment, the IOCs are better placed to build and run refineries as they are currently running their upstream companies. My fear remains whether this matching order will be followed to the letter. I also want to appeal to the IOCs to see this line of business as corporate citizenship obligation and it is lucrative even if their target market is for local consumption in Nigeria. Joseph Davies 11.13.2009 12:18 GREAT!!! That’s it. If implemented to the letter, it definitely would have a multiplier effect that will expedite the MDGs. Knowledge + Vision + ¬Productivity = A Durable Legacy of the Yar Adua’s administration… Barka, Mr. President. The Founder\'s Desk, NCCIJ Maxim 11.13.2009 12:14 All that have been said so far,nobody has any cogent reason as to why the refineries are not working.The meaning of this to me, is that government has resolved to let the refineries rot away while we continue to import. [b]Bobby Chukwudi Chukwuma 11.13.2009 07:53[/b]Good thinking, who says Umaru Yar’Adua\'s presidency will not turn out to be the best in Nigeria. They may be slow but they are moving in the strong foundational direction, kudos to Mr. President. What Nigeria and Nigerians needed is an enabling environment to operate, if the oil companies invest in the downstream sector as mentioned here, especially in the area of refining petroleum products, the story of mafias not wanting the Nigeria refineries to work will be a thing of the past, because if they can influence government establishment, they cannot possibly do so with independent firms that have invested to make profit. See how well Nigeria is doing in the telecommunications sector, because private firms were allowed to invest and compete with that of the government. If this is taken care of, the next area I would want the government to consider seriously is the power sector, with these three key areas taking care opened for private investors, Nigeria will be set for a corrupt free society and the needed change will come. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Ibime(m): 3:45pm On Nov 26, 2009 |
The problem never was building refineries but maintaining them and keeping them operational. Do FG also expect these companies to run the refineries? They need to make that clear before I celebrate, cos FG have proven themselves incompetent at running refineries. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 3:49pm On Nov 26, 2009 |
My fear is not that we wont or cant develop, my fear is that we will be so developed that we will make ourselves gods and Forget the sovereign God himself. You want proof ! Check out what happened when we were ruling the world in Egypt, |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 3:58pm On Nov 26, 2009 |
@ibime The Companies will run the refineries. The people that run the refineries is not the Fg they are the technocrats. The technocrats will make you minced meat if you were president. The truth is that they will get away and you will be blamed and if you go after them they will shout persecution of all sorts. The fact now is that with the oil companies in refining we would be saving billion of dollars every year and there will be alot of Jobs. The oil companies know how to run the refineries. You will not need the cabals in the NNPC to sit on a board to sanction a turn arround maintenance for 300 times the actual cost because the refineries are the ones running it. With deregulation the refineries would make their monies back. We may even see a massive reduction in price of fuel. reason is that when the companies start declaring profits the Nigerian people that I know very well would flock to that business. It will just be like thet telecoms sector. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 4:12pm On Nov 26, 2009 |
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Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by KnowAll(m): 4:17pm On Nov 26, 2009 |
What are the Dangote, Otedola’s waiting for, does anyone seriously think any foreign firm will come to our shores and build a refinery in other to make money for themselves and provide jobs for our people, If any Nigerian believe such arrant nonsense, then that person or persons can believe anything. It is bad enough that the Venezuelan Ambassador to Nigeria had to remind our honourable Minister of Information that Nigerians are the best people to take care of her affairs and not foreigners’, I am sure such views will probably be shared by our numerous JSS students it is not rocket science. I believe the only investors who will put their mind, body and soul on big business and investment like Refineries are Nigerians. I am sure a lot of looters are looking for ventures to put their ill-gotten wealth on but to no avail. James Ibori will be eager to spend those billions on such ventures, I am pretty sure he is bored stiff counting his billions every morning since he left office. Look at his co-looter in no other person than Odili, he has since moved on to better things Arik airline, I must confess, that airline is a first class airline with first class service, no foreigner will give us good quality. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 4:25pm On Nov 26, 2009 |
^^^^^^^^^^^^^^^^^^^^^ This is not a foreigner vs Citizen issue. if you want to renew your oil block then build refineries in Nigeria if not leave our(their) oil alone. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by skillworks(m): 4:27pm On Nov 26, 2009 |
The greatest news I have heard today! More jobs for Nigerian youth More money for Nigeria But I hope the companies manage the refineries instead of the Govt. NNPC should just be a advisory and supervision board. skillworks |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Nobody: 4:34pm On Nov 26, 2009 |
Good idea I also think the 40year licence is ridiculous. The licence should be renewed every 2-3 years so that we know those who are willing to give back to the society and those who ar'nt. 40years licence unacceptable in this day and age. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 4:40pm On Nov 26, 2009 |
@mikeansy I think the 40 thing is criminal and fraudulent not just ridiculous. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by globalaid(m): 4:44pm On Nov 26, 2009 |
another amusement story. Where are the refinery when they have started signing the renewal already. Are we ever serious in this country? It is only in Nigeria that everybody do as they are pleased, we the citizen are not benefiting anything from the oil find. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Ibime(m): 4:51pm On Nov 26, 2009 |
mikeansy: The high capital cost of petroleum projects negate the possiblity of shorter-term contracts. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 4:56pm On Nov 26, 2009 |
@globalaid yes they have renewed only for a year the senate said they will pass the PIB before christmas I just pray that they dont turn their backs on nigeria God bless Nigeria |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Goldmind1(m): 5:24pm On Nov 26, 2009 |
Am beginning to see hope in the half-dead Nigeria. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by agabaI23(m): 5:32pm On Nov 26, 2009 |
rethink:Turn their back on who? This guys are greedier than nigerians, they only know how to hide their greed. They are going no where otherwise with the trouble in Iraq, no company would be bidding for oil blocks but go and see. MEND for don drive them commot but see them sitting tight. They can only go when the place if dry, as far as oil flows, we shall see them. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by tunnytox(m): 5:41pm On Nov 26, 2009 |
The downstream sector wil have to be deregulated before these companies can invest otherwise they'll be forced to sell their products at a fixed price approved by the government, obvioulsy this will never happen. So i will say Nigerians should brace up for deregulation sooner rather than later. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by SamMilla1(m): 6:00pm On Nov 26, 2009 |
best move so far by FG |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by 1forall: 6:10pm On Nov 26, 2009 |
Our FG runners never want to take responsibility for anything other than awarding contracts and lining their pockets, why cant we run our 4 refineries in addition to the ones the oil coys 'll setup? Cant we just run anything right at all? I dont see anything wrong with naija producing refined produtcs for local use and export but no no no, our administrators 'll rather have some foreign cowboys do that while they just smile to the bank. I think its just another display of irresponsible leadership. . . many policy changes have been suggested since their un-tactfully planned 'deregulation' policy introduction failed. Na God use FIFA save us. . . but for how long? What'll become of the 4 refineries? I think the peeps occupying positions that matter are greedy, lacking the political will to do things right and dont care about the country's future else they'll be making policies to improve the state of things. . . not abandoning responsibility. . . again. Same ni |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by MrCrackles(m): 6:36pm On Nov 26, 2009 |
Very good move. . . Hopefully this will drastically reduce the number of idiots hoping to parade themselves as oil and gas company owners. . . It makes sense and as long as the companies are allowed to manage the refineries with appropriate scrutiny, then i am with it |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Ikengawo: 7:02pm On Nov 26, 2009 |
NIGERIA'S NEXT! this is GREAT news! there's a lot of things i wanted to see done in nigeria and for this reason had an unrealistic dream of being president so i can do it but it seems others have recently started doing them this legislation is BRILLIANT and soooo simple. Nigeria's oil profits are set to quadruple making nigeria 4 times the country it is today and dropping the price of oil in the country. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by 4Play(m): 7:53pm On Nov 26, 2009 |
This policy is clearly stupid and stories like this make you wonder whether Nigerians lack intelligence. You can't coerce oil companies to invest in refineries when the key stumbling block to having an efficient domestic petroleum market is the myriad of regulations that distort the market. Quite simply, if there was money to be made in investing in refineries in Nigeria's present day environment, foreign investors would not need to to be coerced. The lack of investment in refineries is merely a symptom of a greater malaise, not the malaise itself. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Nobody: 8:43pm On Nov 26, 2009 |
No doubt a great idea. The problem with nigeria is when it comes to the doing then something suddenly crops up and silly excuses are made for failure. lets see if any oil companies will eventually be forced into this new policy.[color=][/color] |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by location(m): 9:33pm On Nov 26, 2009 |
i think is a good idea, but i want the process to be fair and adequately reliable |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by hambehsam(m): 10:02pm On Nov 26, 2009 |
I hope this will once and for all solve our energy crisis. Now that the government is waking up to their responsibility, I hope they will tackle the electricity problem and roads. Once this is done, then Nigeria will be set onto the road of greatness, to take it rightful place in Africa.Best wishes. |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 10:05pm On Nov 26, 2009 |
@4play This policy is clearly stupid and stories like this make you wonder whether Nigerians lack intelligence. And what is the regulations you are talking about? there was no regulation build refinery or leave our (their) oil alone that is simple. The fact is that there was no regulation for 40years of rapery they got the oil from the ground and ship it out, no REGULATION. Our soldiers even guide themand kill our own people. Now that must Chnage they build the refinery or our soldiers Chase them out! If they build the refineries and they dont work kick them out after what is the oil doing for Nigeria when we are not benefiting from it. Quite simply, if there was money to be made in investing in refineries in Nigeria's present day environment, foreign investors would not need to to be coerced. The lack of investment in refineries is merely a symptom of a greater malaise, not the malaise itself It is because the government did not put this clause that is why the oil companies did not want to invest in the down stream sector. If i gave you Mr 4play 1 million barrels of Brent crude oil you will not need to raise a finger to make money from it. The people in the oil business will ask you to give them the account you want the money transfered. to be a Crude oil mechant you dont need primary 6 certificate just have the oil any how, that is why it is called black Gold. We have about 35 billion barrel of crude oil reserve(it could be more because I believe they could be lying) That is why the generals and some people in Government went into crude oil Exploration. some of the companies listed have people in the army and NNPC behind the companies. The FG cannot run the oil business the civil service that deals with the oil sector are just corrupt to take the refinery and run it. The government will be paying so much because the compnaies that will do TAM and other maintainance work on the refineries will have to meet the corrupt board and the board will make you charge the government 300 times the actual cost. The government will not be able to Charge the cost of the over inflated maintenance on you the consumer so the government will SUBSIDIZE and the cost will keep increasing. They have robbed with the help of unpatriotic Nigerians Enough is Enough! |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by naijamini(m): 10:08pm On Nov 26, 2009 |
@4_play Finally somebody is thinking about the inconsistency of forcing private companies to invest in any business. Any investment must meet the profitability criterion, and if this policy doesn't add value to their current investment in Nigeria, they will take their investment somewhere else - think Angola, Ghana and other countries itching for investment in their upstream oil sectors. Just a few months ago the worry was that Nigeria will lose its status as Africa's largest oil producer. On the other hand, there may be a reason for this - perhaps China is throwing in refineries as an incentive to snatch the concessions from Western companies. If China would really do that, and "REALLY" is the important word here, then this may actually benefit Nigeria in the short term. We need to thread carefully. Otherwise, the outcome of this policy would be determined by the answer to the following question: Does the world need Nigeria's oil more than Nigeria needs the oil revenue? Nigeria certainly needs the revenue - it is one reason for the uncharacteristic peaceful approach Yar'adua is pursuing in the Niger Delta. 4 Play: |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by rethink: 10:21pm On Nov 26, 2009 |
@ 1forall Our FG never wants to take responsibility for anything other than awarding contracts, why cant we run our 4 refineries in addition to the ones the oil coys 'll setup? Cant we just run anything right at all? For the government to run the refinery you have to put all the people at NNPC in Jail ! I dont see anything wrong with naija producing refined produtcs for local use and export but no no no, our administrators 'll rather have some foreign cowboys do that while they just smile to the bank. Withe foreign comapnies the local ones too will work besides some of the oil cmpanies that you think are foreign companies are owned by Nigerians with foreigners as fronts. I think its just another display of irresponsible leadership. . . many policy changes have been suggested since their un-tactfully planned 'deregulation' policy introduction failed. Na God use FIFA save us. . . but for how long? well the comapnies will have to sell at a prices that will keep them in business so the prices will be deregulated but you watch and see the Parasitic elite willlkick against this. What'll become of the 4 refineries? They can burn to ashes for all i care the refinery is working at 6.66% capacity. Refinery everywhere in the world is suposed to make money I think the peeps occupying positions that matter are greedy, lacking the political will to do things right and dont care about the country's future else they'll be making policies to improve the state of things. . . not abandoning responsibility. The political will is coming now. Crude oil like Gold is a mineral. If you take raw Gold to a jeweler and tell him to make gold jewelry for you and you call your government to pay for the refining of the gold and making the gold into Jewelry and the government agrees to pay is that not stupid responsibilty? |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by 1forall: 10:30pm On Nov 26, 2009 |
So in short. . . SAME NI |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by yeswecan(m): 10:33pm On Nov 26, 2009 |
OMG, this is good news from any viewpoint, this is the right step. thanks Mr. President (get well soon) |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by vislabraye(m): 10:37pm On Nov 26, 2009 |
This is a smart move. They just need to have a good MOU, Let me see who will sabotage the refinery |
Re: I Never Thought Of This Solution: Fg: Oil Companies Must Build Refineries by Nobody: 11:04pm On Nov 26, 2009 |
the federal government is just a bunch of jokers they have not done the first thing that is required - create a conducive/enabling environment and the idiots are making noise have you ever wondered why there are no shell petrol stations in nigeria? lets even forget the business case, would i build a refinery in nigeria, knowing the state of the niger delta, the state of phcn, and the crzy governemnt that keeps revoking agreements of previous administrations? |
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