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Shell Plans $5 Billion Sale Of Oil Fields In Nigeria - Politics - Nairaland

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Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by debosky(m): 1:04am On Dec 21, 2009
Shell Plans $5 Billion Sale Of Assets In Nigeria

LONDON (Reuters) - Royal Dutch Shell , Europe's largest oil company, is planning to sell oilfields in Nigeria valued at up to $5 billion, the Sunday Times reported, citing sources linked to companies interested in the assets.

The newspaper said the auction comes as Nigeria prepares to impose harsher terms on foreign operators and hand greater control to domestic firms.

The oil giant, which declined to comment on the report, is the biggest and longest standing Western oil producer in Nigeria.

But production has been hampered by insecurity in the oil-rich Niger Delta, government funding shortfalls and an uncertain regulatory environment.

The report coincided with a group led by Shell pledging on Sunday to spend tens of billions of dollars developing Iraq's Majnoon supergiant oilfield over the next two decades.

The Sunday Times said it understood Shell recently launched a formal sales process overseen by Ann Pickard, head of Shell Nigeria.

Chinese state-owned oil group Sinopec had requested information, it said, and Nigeria's independent oil group Oando and London-listed Afren could also be interested.

In Beijing, Sinopec was not immediately available for comment while domestic peer CNOOC -- reported in September as being in talks with Nigeria to buy large stakes in some of Africa's richest oil blocks -- declined to comment.

Shell has switched investment from Nigeria, which supplied 16 percent of its 2008 oil production, in response to growing violence from militants and a souring of relations with the government.

http://www.eleconomista.es/empresas-finanzas/noticias/1786088/12/09/Shell-plans-5-billion-sale-of-assets-in-Nigeria-report.html

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6962925.ece

This is a major development in Nigeria's oil and gas industry - what will it mean for Shell, the Nigerian economy and the new buyers?
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by OAM4J: 1:16am On Dec 21, 2009
I saw it coming. Am actually surprise it didn't happen before now
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by puskin: 1:28am On Dec 21, 2009
This is definitely not good for Nigeria 'cos other oil companies might be tempted to follow suit.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by DisGuy: 1:32am On Dec 21, 2009
Does this have anything to do with the PI bill?
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by debosky(m): 1:38am On Dec 21, 2009
Dis Guy:

Does this have anything to do with the PI bill?


Partly - the new terms will not be as favourable to Shell as previously - especially when the extra security costs and associated cost premiums from contractors.

However, I think it's partly a move by Shell to reduce it's liability and exposure to production shut ins by disposing some of it's onshore assets, as well as a ploy to avoid paying significant renewal bonuses for the first time in Nigeria.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by ladej(m): 1:52am On Dec 21, 2009
puskin:

This is definitely not good for Nigeria 'cos other oil companies might be tempted to follow suit.
venezuela moved from 80% foreign run refineries 20% local, to 90% local, 10% foreign in 10 years. this same period fuel was not increased in the country. this may be the kick up the backside we need to manage our God given resources. it may be good for us i say
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by mekusxxx: 1:53am On Dec 21, 2009
About time. This and the pulling out of others, will help us to redefine and rediscover ourselves.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by obailala(m): 2:27am On Dec 21, 2009
mekusxxx:

About time. This and the pulling out of others, will help us to redefine and rediscover ourselves.

ladej:

venezuela moved from 80% foreign run refineries 20% local, to 90% local, 10% foreign in 10 years. this same period fuel was not increased in the country. this may be the kick up the backside we need to manage our God given resources. it may be good for us i say

Sometimes i wonder why we are always quick to forget the kind of people that make up Nigeria. Today most Nigerians are crying foul that we received independence prematurely from the British, now we are about to encourage the same dumb move in the oil industry. I hope we really know where we are heading to.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Tmoni(m): 2:33am On Dec 21, 2009
The Chinese are lurking in the backgroung to take up this assets, but in terms of Corporate Social Responsibility, our guys from Beijing are very far off from IOC
I hope whoever gets these assets will maintain investments so as not to make the country's quest stagnant,


Shell has got projects about to enter production phase in the Gulf of Mexice & Quatar so Peter Vosser is telling us Au revoir,
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by OAM4J: 2:34am On Dec 21, 2009
mekusxxx:

About time. This and the pulling out of others, will help us to redefine and rediscover ourselves.

Even when we find it difficult to maintain refineries and with a sick administration in place.?

Definitely not now, not with this dump and clueless administration in place. It might be a welcome idea in the future.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by marocguy(m): 2:35am On Dec 21, 2009
This is good news. The "black gold"diggers are gradually planning to go because the atmosphere is turning into a regulated one. They dont want to pay renewal licences every year becos the 30 years or whadeva licensin system don go.
They mine here yet they hav poor corporate social responsibilities systems hardly caring for their host communities and country,
They keep flaring gas and wont want 2 stop.They wont employ citizens and treat nigerians lyk rag.
For those who think its a bad idem,let them tell me shell's relevance to nigeria ova d past four decades? Have they ever identified with any nigerian brand in terms of sponsorship or association?
They blame militant action afta the violence hav gone.The are just lookn 4 flimsy reasons 2 run out before the petroleum industry hill n local content comes into play.
Abeg oando shud secure loans or go public or even nnpc shud go profit oriented as planned and buy d godamn company. No chinese pls
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by loma(m): 2:55am On Dec 21, 2009
This is going to be an opportunity for some smart folks!
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Singular: 3:15am On Dec 21, 2009
obailala:

Sometimes i wonder why we are always quick to forget the kind of people that make up Nigeria. Today most Nigerians are crying foul that we received independence prematurely from the British, now we are about to encourage the same dumb move in the oil industry. I hope we really know where we are heading to.

Who are most Nigerians Please speak for yourself. Dont assume everyone thinks like you!!

This is most definitely a welcome development. Who the hell do you think will benefit from western countries operations in Nigeria? The west duh! Kick them the f!ck out!

What has Shell done for the people of the Niger Delta?? except ravage its land and leave it poor?? Who does it get its oil from? Nigeria. and then it sells it back to Nigeria. Isnt that a show of pure extortion? Its quite clear that they are not wanted here by the people, the boys in the creeks are only openly displaying it.
It is only that those with legal power are being bribed off so they continue with their inhumane activity.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 3:21am On Dec 21, 2009
debosky:

LONDON (Reuters) - Royal Dutch Shell , Europe's largest oil company, is planning to sell oilfields in Nigeria valued at up to $5 billion, the Sunday Times reported, citing sources linked to companies interested in the assets.

The newspaper said the auction comes as Nigeria prepares to impose harsher terms on foreign operators and hand greater control to domestic firms.

The oil giant, which declined to comment on the report, is the biggest and longest standing Western oil producer in Nigeria.

But production has been hampered by insecurity in the oil-rich Niger Delta, government funding shortfalls and an uncertain regulatory environment.

The report coincided with a group led by Shell pledging on Sunday to spend tens of billions of dollars developing Iraq's Majnoon supergiant oilfield over the next two decades.

The Sunday Times said it understood Shell recently launched a formal sales process overseen by Ann Pickard, head of Shell Nigeria.

Chinese state-owned oil group Sinopec had requested information, it said, and Nigeria's independent oil group Oando and London-listed Afren could also be interested.

In Beijing, Sinopec was not immediately available for comment while domestic peer CNOOC -- reported in September as being in talks with Nigeria to buy large stakes in some of Africa's richest oil blocks -- declined to comment.

Shell has switched investment from Nigeria, which supplied 16 percent of its 2008 oil production, in response to growing violence from militants and a souring of relations with the government.

http://www.eleconomista.es/empresas-finanzas/noticias/1786088/12/09/Shell-plans-5-billion-sale-of-assets-in-Nigeria-report.html

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6962925.ece

This is a major development in Nigeria's oil and gas industry - what will it mean for Shell, the Nigerian economy and the new buyers?

puskin:

This is definitely not good for Nigeria 'cos other oil companies might be tempted to follow suit.

- Please explain why it is not good for nigeria . . . i would love to hear the explanation . . .

- How is it not good for our economy for us to control more of our resources. . .

- I saddens me when Africans makes statements that imply that they do not beleive that they can actually succeed at something they hire foreigners to do. . .

- Yes there is corruption in Nigeria, yet despite all the propaganda it would suprise you to note that China is more advanced than us despite going it alone. North Korea (even North Korea) is more advanced than us despite going it alone. Iran is more advanced than us despite going it alone, so please forget about Shell.

- Do you sincerely think Europeans give Africans the same kind of economic freedom that they enjoy in Africa, hence why exactly do you think its a bad thing for Shell to relinquish control over certain areas of our economy.

- Do you not think its a misnomer for a foreign company to have control of the main source of income for your country.

- Do you sincerely think they Shell gives a damn what happens to Nigeria and Nigerians, considering that their primary concerned is to maximize profit for themselves.

- Licensing is one method used by the west to fleece people of their money . . . hence I am not suprised they enjoy giving out to others.

- The important thing that needs to be considered is:

1. How do we explore.
2. How to we extract.
3. How do we transport.
4. How do we sell.
5. How do we make profit from our Oil and Gas resources.


So long as there are indigenous companies that can solve and answer the above 5 questions, I would gladly say good riddance to bad rubbish known as Shell.

It is not compulsory for Shell to be involved . . . before all the above point is achieved . . . hence personally I do not give a damn if Shell sells off certain assets or not.

In as much as I do not like exploitative licensing, also I do not support Shell either cus I know that they are parasites that are hell bent only on fleecing their host countries . . . apart from Shell oil locations within Nigeria, can you kindly tell me what areas of Nigeria that shell has activelly contributed to the development . . and improvement of life over the number of years that they have been in Nigeria.

In the UK, you easily see the visible involvement of companies in the day to day going ons of the country . . . yet the same cannot really be said of Nigeria.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Justcash(m): 3:49am On Dec 21, 2009
With the type of Government we have in Nigeria, any attempt to increase the domestic control of the abandoned oil areas will still lead to mismanagement, violence and death.
Wait untill the licenses are given to Nigerian citizens from other regions in the country and see how Niger-deltans will react.
From all indications it is the Chinese that may take over.
Chinese are not as accomodating as the Germans. Their CSR practise is nothing to write home about. They claim to be Communist, but their activities are more capitalist than ever. They will stop at nothing to get their investments back and make profit. Unlike the Germans,  They will simply pour in Amunitions for the Federal government to use and slaughter agitating Niger-deltans. The Mumu Federal government will accept them and use them like cows.

Anyway, let me watch and see.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 4:00am On Dec 21, 2009
Justcash:

With the type of Government we have in Nigeria, any attempt to increase the domestic control of the abandoned oil areas will still lead to mismanagement, violence and death.
Wait untill the licenses are given to Nigerian citizens from other regions in the country and see how Niger-deltans will react.
From all indications it is the Chinese that may take over.
Chinese are not as accomodating as the Germans. Their CSR practise is nothing to write home about. They claim to be Communist, but their activities are more capitalist than ever. They will stop at nothing to get their investments back and make profits. Unlike the Germans,  They will simply pour in Amunitions for the Federal government to use and slaughter agitating Niger-deltans. The Mumu Federal government will accept them and use them like cows.

Anyway, let me watch and see.

Partly true and partly untrue . . .

MTN (a South African company) was fleecing Nigerians until Globalcom came unto the scene. . . and eventually force their hands into making their products more affordable.

- Hence I am not saying Nigerian government should control the oil and gas . . . i am only saying that private Nigerian companies should have more say in the Oil and Gas business in Nigeria at the expense of foreign companies.

- In the UK alone, a foreigner is hired for particular jobs if and only if the company can prove that there is no Briton that can be hired for the job. This means that Britian is trying to develop their country by restricting their jobs for their own people. So why exactly is it now a crime for Nigeria to demand to have more control over its resources.

Nigerians are also running things in the oil and gas sector so please do not give me the propaganda that everrything would go down hill. . . it would mostly go downhill if and only if it turns into a government run industry whereby incompetent Northerners start choosing to use the federal charater nonsense.

So long that it is a private sector nigerian company that has to make money, you can be sure that whether they like it or not, they would have to perform or else na die them dey be that cus.

Wait untill the licenses are given to Nigerian citizens from other regions in the country and see how Niger-deltans will react.
From all indications it is the Chinese that may take over.
Chinese are not as accomodating as the Germans. Their CSR practise is nothing to write home about. They claim to be Communist, but their activities are more capitalist than ever. They will stop at nothing to get their investments back and make profits. Unlike the Germans,  They will simply pour in Amunitions for the Federal government to use and slaughter agitating Niger-deltans. The Mumu Federal government will accept them and use them like cows.

Chinese are capitalist . . .capitalist with bloody history.
Europeans are capitalist . . . with genocidal history.
Germans are capitalist . . with genocidal history.

So what exactly is your point . . . kindly stop the fear mongering and debasement of Nigeria. Rome was not built in a day, hence the issue is to have more control of our resources irrespective of who is coming in to partner Nigeria in exploring and exploiting those resources.

Foreign companies are in Nigeria to make money and not to do charity however the issue in this case is that is the profit being made at the expense of Nigeria . . . if its chinese that are cheating Nigeria, I would gladly kick them out. If it is europeans i would gladly kick them out.

If Shell wants to continue to operate in Nigeria then they have to play by Nigeria's terms and not the other way round  ,  .

1 Like

Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by FLT123(m): 4:08am On Dec 21, 2009
Folks,

I agree that the west is plundering the oil in our country but at least we still get some crumbs from them. If this is handed over to Nigerians, we are screwed, no, not screwed but f***ked. I normally don't use such graphics in explaining my point but if history is anything to go by, then we need to start praying.

Oil is responsible for a most  of what we export and main source of revenue for Nigeria, some semblance of accountability still exist today because to some levels, these companies must declare (most of it) what they export from Nigeria, thus the Nigerians in charge have no choice but to declare whatever the oil companies declare. If that disappears, ,

Nigerian history at managing anything for the sake of the Nigerian people is not at all good: Nigerian Railway, Refineries, Ajaokuta steel rolling mill, NEPA, cash crop exports, etc. I can't remember anything (not one) that has been managed well for Nigerians by those in power. I don't expect that much will be different if history is anything to go by.

1 Like

Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 4:18am On Dec 21, 2009
FLT123:

Folks,

I agree that the west is plundering the oil in our country but at least we still get some crumbs from them. If this is handed over to Nigerians, we are screwed, no, not screwed but f***ked. I normally don't use such graphics in explaining my point but if history is anything to go by, then we need to start praying.

Oil is responsible for a most  of what we export and main source of revenue for Nigeria, some semblance of accountability still exist today because to some levels, these companies must declare (most of it) what they export from Nigeria, thus the Nigerians in charge have no choice but to declare whatever the oil companies declare. If that disappears, ,

Nigerian history at managing anything for the sake of the Nigerian people is not at all good: Nigerian Railway, Refineries, Ajaokuta steel rolling mill, NEPA, cash crop exports, etc. I can't remember anything (not one) that has been managed well for Nigerians by those in power. I don't expect that much will be different if history is anything to go by.


- Yes you are correct . . . hence i do not want NNPC or any public agency to manage the oil wealth.

- The issue here is for Nigeria to have more control . . .over the resources where there is a joint venture between Nigeria and foreign companies/local companies.

- The issue here is reduce capital flight in our economy by ensuring that more and more Nigerian private companies participate in the money making areas of the economy.

- Notice the companies you mentioned. . . do you notice one peculiar thing about most of them :

THEY ARE MOSTLY ALL GOVERNMENT CONTROLLED EXCEPT AJAOKUTA WHICH I AM NOT EVEN SURE WHO OWNS IT SEF.

- Nitel is useless cus its government controlled.

- Globacom is competitive becuase it is private controlled.

- Having a private Nigerian company is different from a public Nigerian company hence my point still remains that Shell should be given less and less control of our resources, hence if they are not interested in the new arrangments, trust me there are other foreign companies that are interested in taking their place.

1 Like

Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Justcash(m): 4:22am On Dec 21, 2009
No2Atheism:

- In the UK alone, a foreigner is hired for particular jobs if and only if the company can prove that there is no Briton that can be hired for the job. This means that Britian is trying to develop their country by restricting their jobs for their own people. So why exactly is it now a crime for Nigeria to demand to have more control over its resources.
Chinese are capitalist . . .capitalist with bloody history.
Europeans are capitalist . . . with genocidal history.
Germans are capitalist . . with genocidal history.

So what exactly is your point . . . kindly stop the fear mongering and debasement of Nigeria. Rome was not built in a day, hence the issue is to have more control of our resources irrespective of who is coming in to partner Nigeria in exploring and exploiting those resources.
If Shell wants to continue to operate in Nigeria then they have to play by Nigeria's terms and not the other way round  ,  .

For the first highlighted sentence, it is only a country with a pro-developmental government, high FDI rate and high domestic investments rate that can make such rules.
For the Second highlighted sentence, The Chinese are too insensitive and lack empathy compared to Europeans. I have stayed 12 years in Europe and 9 Years in China, I know exactly what I mean. They can do anything to Make profit, including sleeping with their enemies and killing them the next day.
For the third highlighted Sentence, Shell would have played to Nigeria's terms if the people in Charge of Nigeria wanted it that way. As long As Shell continues to supply them Ghana must go bags full of dollars, they prefer shell to play it their way.
However, I know that nothing happens as planned in Nigeria. We are blown to any direction by the wind of Change, Good or Bad.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 4:33am On Dec 21, 2009
great news.

Down with oil. angry
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Justcash(m): 4:36am On Dec 21, 2009
No2Atheism:

- - The issue here is reduce capital flight in our economy by ensuring that more and more Nigerian private companies participate in the money making areas of the economy.
- Nitel is useless cus its government controlled.

- Globacom is competitive becuase it is private controlled.

- Having a private Nigerian company is different from a public Nigerian company hence my point still remains that Shell should be given less and less control of our resources, hence if they are not interested in the new arrangments, trust me there are other foreign companies that are interested in taking their place.

I totally agree with your first and last statements. That is What I have been advocating for. But my brother, Let's face facts, will the Nigerian government allow such? Nigerian investments seem unviable untill people like Dangote, IBB and co have shares in them. It will be very good if they can give a level playing ground.
As for your consistent Globacom example, I can only tell you that Globacom is in the telecommunication sector which is not as sensitive and difficult to manage as the Oil and gas sectors. An Oil spill can simply make niger-deltans conclude that because Adenuga is a Yoruba man, he is insensitive to the plight of Niger-deltans. It sounds rediculous, but it is the honest truth.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 4:59am On Dec 21, 2009
Justcash:

The Chinese are too insensitive and lack empathy compared to Europeans. I have stayed 12 years in Europe and 9 Years in China, I know exactly what I mean. They can do anything to Make profit, including sleeping with their enemies and killing them the next day.

- Wow . . .I used to think Chinese are at least more sensible than europeans with respect to how they value life . . .hence this your assessment is kinda weird in a way.

- Sometimes i can't help but start to reconsider the idea that the abundance of melanin in the body of the person seems to have something to do with how much cold-hearted the person really is. . . there are some information somewhere that mentions that abundance of melanin and the pineal gland have something to do with how we behave as races of people. This was used in explaning why a african and an european can get accesss to the same technology but there is higher probability that its the european that is going to weaponise such a technology i.e. turn it into something the kills.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 5:12am On Dec 21, 2009
if this is a sign of things to come as in shell, mobil, chevron etal pull out of nigeria. . .

i do not even know where to start.

oil and gas is far more capital intensive than the downstream sector, or telecomms.

nigerians , accustomed to quick returns to not have the patience to inject millions of dollars into projects that will not yield immediate returns - i am referring to prospecting for new oil fields.

there are no local nigerian firms  with the resources required.

more importantly, for all the noise about the environment etal, shell and all those other companies are western companies where there is a strong culture of defending the environment, even if they, on their own part are indifferent they have to take some steps because of their corporate image. nigerians will have no such qualms.

nigeria is fast becoming a global basketcase - firms keep pulling out, and nothing is left to fill the void.

as for the chinese. . .if you think westerners are bad. . .

good luck to anyone who buys up those facilities. if shell, with their deep pockets, have concluded that thanks to mend, continued operations are unviable, lets see who out there has the resources to run those facilities with the losses shell has been accruing
all the probems will still be there - mend, pipeline vandals, a clueless government that cannot see beyond its nose. .

shell's facilities are mostly onshore, which makes them the most vulnerable.

once, some individuals might have formed a consortium and gotten a huge bank loan - but today, the banks are running scared - they are coming to terms with the act that there is no sure thing in business

so i guess that leaves us with the chinese.

1 Like

Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 5:14am On Dec 21, 2009
offtopic -

abundance of melanin in the body of the person seems to have something to do with how much cold-hearted the person really is. . .

This was used in explaning why a african and an european can get accesss to the same technology but there is higher probability that its the european that is going to weaponise such a technology i.e. turn it into something the kills.

later you will be wondering why i call you racist
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by ib612(m): 5:15am On Dec 21, 2009
Give or take, a stranger cannot keep forth for you the way you'll do it yourself.

Nigeria will benefit from this as long as it's left in private hands; not government ownership.

Are we really suppose to depend on these various foreign companies forever? We should also invest in our own natural resources, build and develop our own technology the way we deem fit.

We should see this as a challenge to do things our one way. It's an opportunity that we should exploit. We must start somewhere and get going. If we make mistakes, fine as long as we don't quit we'll get there and it will be better for all people of Nigeria.

Where should we stand:

A man showed his son a vast land that he'll get when he died and told him that he'll be the richest man in the world if he can look beyond the land he sees.

The oldman passed away and the son takes possession of the land. He walk the length and breath of it and found no use for the land. He sold it. On the title paper of the land was written: Till The Land and You Will discover treasure. The man that bought it did exactly that and dug and found enormous treasure beyond his dream.

He became the richest man on earth and the son spent money buying the treasures from the land which was soon exhausted and went back to the land to work for the man that bought the land from him.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 5:23am On Dec 21, 2009
oyb:

offtopic -

later you will be wondering why i call you racist

read the my response again . . .

No2Atheism:

- Wow . . .I used to think Chinese are at least more sensible than europeans with respect to how they value life . . .hence this your assessment is kinda weird in a way.

- Sometimes i can't help but start to reconsider the idea that the abundance of melanin in the body of the person seems to have something to do with how much cold-hearted the person really is. . . there are some information somewhere that mentions that abundance of melanin and the pineal gland have something to do with how we behave as races of people. This was used in explaning why a african and an european can get accesss to the same technology but there is higher probability that its the european that is going to weaponise such a technology i.e. turn it into something the kills.

- Use of English as a Foriegn Language.

- i noticed you were posting and sincerely i was expecting you to say something . . . just to against me in one way or another . . . . grin grin grin

On another note, how's family . . . how baby and mother .
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 5:26am On Dec 21, 2009
^^^^

Give or take, a stranger cannot keep forth for you the way you'll do it yourself.

people love to scream adenugas praises, but i have heard too many  horror stories about how the man is a lousy person to work for

simple example - Conoil staff are not unionised. they can be sacked at will. i have also heard horror stories from contractors about the complete lack of standards within his companies. alot of those happy birthday to the don ads are silent appeals by small contractors to remind him that he owes them money.

one should not think that because globacom is a success it will work out in oil and gas. i work in the downstream sector, and conoil stations are sometimes a subject among us. huge investment running at a loss. ditto for that belinda oluwabunmi building at the end of ajose adeogun. it is now for sale.


we can sing about it is better we do it by oursleves, but we have not demonstrated that ability in any way.

1 Like

Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 5:30am On Dec 21, 2009
if this is a sign of things to come as in shell, mobil, chevron etal pull out of nigeria.


if they go, that's fine.

Kenya and South Africa do NOT have oil.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 5:30am On Dec 21, 2009
oyb:

if this is a sign of things to come as in shell, mobil, chevron etal pull out of nigeria. . .

i do not even know where to start.

oil and gas is far more capital intensive than the downstream sector, or telecomms.

nigerians , accustomed to quick returns to not have the patience to inject millions of dollars into projects that will not yield immediate returns - i am referring to prospecting for new oil fields.

there are no local nigerian firms  with the resources required.

more importantly, for all the noise about the environment etal, shell and all those other companies are western companies where there is a strong culture of defending the environment, even if they, on their own part are indifferent they have to take some steps because of their corporate image. nigerians will have no such qualms.

nigeria is fast becoming a global basketcase - firms keep pulling out, and nothing is left to fill the void.

as for the chinese. . .if you think westerners are bad. . .

good luck to anyone who buys up those facilities. if shell, with their deep pockets, have concluded that thanks to mend, continued operations are unviable, lets see who out there has the resources to run those facilities with the losses shell has been accruing
all the probems will still be there - mend, pipeline vandals, a clueless government that cannot see beyond its nose. .

shell's facilities are mostly onshore, which makes them the most vulnerable.

once, some individuals might have formed a consortium and gotten a huge bank loan - but today, the banks are running scared - they are coming to terms with the act that there is no sure thing in business

so i guess that leaves us with the chinese.


- Good points . . .

- Nevertheless the issue here is not about expecting the foreign company to be a charity (infact i don't expect them to be one). . . the issue here is increased control of local resources.

- it is the responsiblity of government to force those companies from polluting the environment in which they operate. Yet these same foreign companies have been saved millions of dollars by the laxity of government in enforcing those lawas. Yet this same Shell has the temerity to not want more control of resources by the Nigerian government. They can leave for all I care. . . others whether european or russian or asian are ready and willing to take their place.

- Oil companies are making illegal money in nigeria cus they are not playing by international rules . . . e.g. gas flaring saves them money which they ougth to be forced to spend.

- There are indigenous companies that are operating (hence this issue of capital intensity is not really totally valid) already hence its not like Shell Mobil and others are the only ones capable of doing the job . . .

- Shell did not become shell in one day . . . it took them time and money (of which there would have been profits and losses). Other countries have tried and succeeded at the increased ownership model hence I can careless about Shell's noise . . .

- I don't care if chinese are saints or not . . .bottom line is for the government to enforce local content both in employment and staff protection.

- Nigeria is more or less at the mercy of the international oil companies, hence the bottom line is that we need to reduce that dependence and hence gain more control of our resources. . . if Shell is not okay with that they can take their leave.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 5:31am On Dec 21, 2009
No2Atheism:

read the my response again . . .

- Use of English as a Foriegn Language.

- i noticed you were posting and sincerely i was expecting you to say something . . . just to against me in one way or another . . . . grin grin grin


you forget i have read some of your other posts - whit men invented aids to suppress the black race, black women are better than white women because they are more naturally beautiful, do not do cosmetic surgery, are less prone to divorce - my comments are not based solely on what you posted here, but on a pattern you have demonstrated repeatedly. in any in event, most racists always find reasons to justify themselves - you certainly are no different

i am sure , after a few more weeks after gathering more 'evidence' you will start a thread - complete with video clip links, about how melanin is directly proportional to abuse of technology.
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by Nobody: 5:34am On Dec 21, 2009
be that as it may, we cant deny the fact that blacks tend to be more on the emotional side than otherwise.

and they do brag about their sexual stereotypes.

still part of being ruled by emotions.

I'm not saying its a bad thing oh!
Re: Shell Plans $5 Billion Sale Of Oil Fields In Nigeria by No2Atheism(m): 5:34am On Dec 21, 2009
oyb:

you forget i have read some of your other posts - whit men invented aids to suppress the black race, black women are better than white women because they are more naturally beautiful, do not do cosmetic surgery, are less prone to divorce - my comments are not based solely on what you posted here, but on a pattern you have demonstrated repeatedly. in any in event, most racists always find reasons to justify themselves - you certainly are no different



- And I stand by my posts and would gladly apologise once you show where they are wrong . . .

- I don't believe in dogma hence I can careless what your personal opinion really is . . .


i am sure , after a few more weeks after gathering more 'evidence' you will start a thread - complete with video clip links, about how melanin is directly proportional to abuse of technology.

What you need to notice is that when i say something, I always do my best to back it up with references which you are free to check and refute . . .hence until you refute those references I would suggest you continue  believe each and every dogma that you want . . .as for me: I AM ALL FOR PEER REVIEW.

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