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Trouble As China Dumps Nigerian Crude Oil - Business (3) - Nairaland

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India Seeks To Import 11m Metric Tonnes Of Nigerian Crude In 2017 / Crude Oil Price Rise After Russia Agrees To OPEC Talk / Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil (2) (3) (4)

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Re: Trouble As China Dumps Nigerian Crude Oil by Hakagure: 8:47pm On Jun 09, 2015
We will be forced to innovate and adapt or we will continue suffering as a supplier of raw materials, Nigeria needs to stop being so dependent on oil sales. Give the oil to the people and tax them 50% of Net Profit if that is what is needed. we need a larger tax base and a smaller government. The way to go is a hybrid economy (services, manufacturing, tech, finance and resources)

5 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by Emeskhalifa(m): 8:48pm On Jun 09, 2015
Kennywills7:
İnteresting
Buhari better do something fast, if not d curses dat people will impose on him will b worst than dat of gej
i 100% agree with u on this
Re: Trouble As China Dumps Nigerian Crude Oil by baybeeboi: 8:49pm On Jun 09, 2015
AreaFada2:
.

Lol. This might be best piece of good news for a long time.

No more reliance on oil. Osun case of not being able to workers could become a nationwide thing.

I think it's time to get hoe & cutlass (or tractor if you can afford it) and head back to the farm.

Farming to export food might be the way forward.

If oil money is seriously declines, let's see if Nigeria can continue as one. If the "oil glue" will hold.

bros, before other states be like Osun, Osun go don die.

2 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by primeache: 8:49pm On Jun 09, 2015
the cannot intimidate us to release the seized textile materials and their arrested citizens.
Re: Trouble As China Dumps Nigerian Crude Oil by juman(m): 8:50pm On Jun 09, 2015
AreaFada2:
.

Lol. This might be best piece of good news for a long time.

No more reliance on oil. Osun case of not being able to workers could become a nationwide thing.

I think it's time to get hoe & cutlass (or tractor if you can afford it) and head back to the farm.

Farming to export food might be the way forward.

If oil money is seriously declines, let's see if Nigeria can continue as one. If the "oil glue" will hold.

Oil glue. grin grin

It is funny. But you are right sha. From the look of things if there is no money from oil the country oneness would be shaken.

The governments instead of sharing money should share oil and pay workers salaries in "measured oil" to the workers. Oh my God o. grin grin grin
Re: Trouble As China Dumps Nigerian Crude Oil by buJu234: 8:52pm On Jun 09, 2015
Praise God that's a great news.. Hope others like India etc will soon follow.

So that we can build our own refineries and refine our oil then start exporting refined petroleum and petrochemical products..

With this even if we borrowed the capital to build the refineries within 2-3yrs we 're in economical boom as far Buhari remains firm with his anti corruption crusade/jihad.

6 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by juman(m): 8:53pm On Jun 09, 2015
baybeeboi:


bros, before other states be like Osun, Osun go don die.

grin grin grin

Oh my God, nigeria the destroyed country that has bad leaders.
Re: Trouble As China Dumps Nigerian Crude Oil by MugabeRobert: 8:54pm On Jun 09, 2015
Dollyak:

Saudi are one of the guys keeping it low. They have repeatedly refused to cut their production to kick shale gas off market

The politics is beyond the shale gas dummy and smoke screen sold to people. Production of shale gas can never be cheaper than linear and conventional process.

The real reason why US want crude oil prices down via her Saudi puppets is to weaken Russians after kickstarting cold war II.

Shale gas can never be economically viable after putting all indices from EIAs into consideration.

1 Like

Re: Trouble As China Dumps Nigerian Crude Oil by Nobody: 8:57pm On Jun 09, 2015
Anyi3:
It's a wonder this OP didn't even read his link
You just rushed to fish out the political side to just heat up things.

If you read the two quotes below in that article, you would have understood better. Nigeria's crude is light.

"China likes crude oil that is heavy and sweet, as it fits the appetite of its refineries that produce a lot of fuel oil to keep its industrial and manufacturing economy running, according to a data from the US Energy Information Administration, EIA."

"Consequently, China ignores Nigerian crude for now, as their demand for light sweet crude oil is very sparse."
Forget about the excuses, China is Jonathan sympathizer , they are not happy how the west join force with opposition to treat GEJ. you people have not seen anything at all. US cannot save Buhari. he is looking for the job of a president, he has just gotten one so let him work.

1 Like

Re: Trouble As China Dumps Nigerian Crude Oil by link2jude(m): 8:58pm On Jun 09, 2015
Build refineries and see if things won't get better... "if something is not working for me I make change"
...APC
Re: Trouble As China Dumps Nigerian Crude Oil by shevchenko(m): 8:58pm On Jun 09, 2015
Buhari went for a g8 meeting where crude oil will be eliminate. At the end of the century

What an illiterate
Re: Trouble As China Dumps Nigerian Crude Oil by MugabeRobert: 9:00pm On Jun 09, 2015
baybeeboi:


bros, before other states be like Osun, Osun go don die.


When jungle mature, these people can feed their families, when they know that there won't be monthly handouts from FG.

But what can rivers state or bayelsa do? Drink oyel or turn eating roasted plantain like wild cats?
Re: Trouble As China Dumps Nigerian Crude Oil by quickly: 9:00pm On Jun 09, 2015
Selling of oil is not the main thing selling of refined oil is
Re: Trouble As China Dumps Nigerian Crude Oil by peegirl(f): 9:02pm On Jun 09, 2015
DickDastardly:
Mogbe! shocked
I think Nigeria just 'CHANGEd' from frying pan to fire.
APC what have you people brought upon Nigeria.

Re: Trouble As China Dumps Nigerian Crude Oil by virus04(m): 9:03pm On Jun 09, 2015
amalder:
but they have been buying it
help me ask am..
Re: Trouble As China Dumps Nigerian Crude Oil by baybeeboi: 9:07pm On Jun 09, 2015
MugabeRobert:



When jungle mature, these people can feed their families, when they know that there won't be monthly handouts from FG.

But what can rivers state or bayelsa do? Drink oyel or turn eating roasted plantain like wild cats?


hehe!


You take many things for granted.

The Nigeria of 2day is not the Nigeria of 1660s.


And please, i don't want a debate with you cos it won't take us anywhere........i know where you are driving at.

Bye.

4 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by doncheks: 9:09pm On Jun 09, 2015
It is time for true federalism.The government cannot survive under the present arrangement.We are heading for the rocks and no one seems to be aware

1 Like

Re: Trouble As China Dumps Nigerian Crude Oil by persius555(m): 9:10pm On Jun 09, 2015
Dollyak:

Saudi are one of the guys keeping it low. They have repeatedly refused to cut their production to kick shale gas off market
A saudi oil minister last month on bloomberg insisted they would hold it out until shale producers cant finance their expensive shale production. Quoting him, If they cut production and prices go up, guess who would step in and fill the gap? Saudi has enough to fund its budget deficit for four years, cant say the same for nigeria. PMB just has to summon courage, diversify our economy. Manufacturing, steel production, mining, power sector revitalization, agriculture, refinery. Revitalising these sectors is key to economic development. Many third world countries are doing well without oil, we should get our acts together, its time nigeria invoke that industrial spirit that we are known for. Who needs china or USA, India is walking this path, its time we follow suit.

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Re: Trouble As China Dumps Nigerian Crude Oil by MugabeRobert: 9:13pm On Jun 09, 2015
quickly:
Selling of oil is not the main thing selling of refined oil is

What's the difference between akara and moi moi?

Believe me, in 20 years many countries would ban the use of fossil fuel. Just Google Elon Musk's Tesla solar cell that are not up to the size of briefcase and can power a whole house. Just 160 million units are required to take the whole of US of the grid and produce clean and green energy. You know the most interesting thing about them? they are very cheap and the technology is an open source, meaning every tom can create one from the comforts of their homes. Tesla batteries

Are we to also talk about super cars that can run a full day on salt water? Or multiple brands of solar and electric cars?

1 Like

Re: Trouble As China Dumps Nigerian Crude Oil by Nobody: 9:15pm On Jun 09, 2015
The whole thing is like a film before Buhari, he thought Government of this 21st century is still like 1983. he is gradually seeing the reality on ground. Choose adviser NO, Move to Aso rock NO, confusion every where. Critics has never make a good leader, never

1 Like

Re: Trouble As China Dumps Nigerian Crude Oil by deb(m): 9:15pm On Jun 09, 2015
HOW LONG ARE WE GOING TO DEPEND ON CRUDE OIL EXPORT AS A NATION. THIS SHOULD BE BLESSING IN DISGUISE. ITS TIME TO GO INTO OTHER SECTORS AND EXPLORE. WE ARE TOO BLESSED TO BE HANDICAPPED.
Re: Trouble As China Dumps Nigerian Crude Oil by tunjidj3: 9:16pm On Jun 09, 2015
good for nigeria
bad for dollar spender
good for hard working nigerian
bad for lazy wealthy nigerian
now hard working nigerian will reposition
while lazy wealthy will be waiting for china to come back

2 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by MugabeRobert: 9:17pm On Jun 09, 2015
baybeeboi:



hehe!


You take many things for granted.

The Nigeria of 2day is not the Nigeria of 1660s.


And please, i don't want a debate with you cos it won't take us anywhere........i know where you are driving at.

Bye.

No, I can't waste my time with you.

No free classes today. Bye.
Re: Trouble As China Dumps Nigerian Crude Oil by Nobody: 9:18pm On Jun 09, 2015
Nigeria must industrialize.

We have no choice.

Nigeria must forget about oil and industrialize.

4 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by juman(m): 9:19pm On Jun 09, 2015
In the world today oil is gradually changing into water. Water that everybody has.

The situation is turning to the point where almost everybody has oil. So there is less people to sell oil to. But nigeria refuse to grow up and develop other areas.

This news make me laugh. grin grin grin

3 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by felifeli: 9:21pm On Jun 09, 2015
Ifyikillz:
Some goats will blame buhari
Re: Trouble As China Dumps Nigerian Crude Oil by M4gunners: 9:21pm On Jun 09, 2015
They are all change.
Re: Trouble As China Dumps Nigerian Crude Oil by Sibrah: 9:22pm On Jun 09, 2015
Kennywills7:
İnteresting
Buhari better do something fast, if not d curses dat people will impose on him will b worst than dat of gej
İf u don't act fast and find buyers for d crude oil, b prepare to receive insults even from ur own supporters
We all know more than 70% of our revenue is goten from oil
So if we can't sell that means no more billions to b allocated to states to pay workers, not to talk of building bridges
More percentage just tap into the crude largess pyramid. Many Nigerians aren't earning what they get paid on a global standard.
Re: Trouble As China Dumps Nigerian Crude Oil by kobonaire(m): 9:22pm On Jun 09, 2015
atlwireles:
I prefer Chinese companies to come built the $13B Southern rail track with their workers, materials and funds. Than listen to some cheap promises from USA/UK.
Really?? You have no faith in your country's skilled labour market that you think China has to import workers for a large scale railroad project??
Re: Trouble As China Dumps Nigerian Crude Oil by Nobody: 9:23pm On Jun 09, 2015
Like I said earlier....Nigeria must forget about oil....and focus on industries.

See where we are now. We have no buyers...and even China, our major buyer....is suddenly not buying oir oil.


You know, I do not get Nigerians. They fight over oil money....using tribalist and bigoted terms.Meanwhile....we are not developing at all.

Nigeria must forget about oil. Now is our chance to take the road to becoming a superpower. Out of adversity....strength.

Oil is a curse.

3 Likes

Re: Trouble As China Dumps Nigerian Crude Oil by Nobody: 9:24pm On Jun 09, 2015
Kennywills7:
İnteresting
Buhari better do something fast, if not d curses dat people will impose on him will b worst than dat of gej
İf u don't act fast and find buyers for d crude oil, b prepare to receive insults even from ur own supporters
We all know more than 70% of our revenue is goten from oil
So if we can't sell that means no more billions to b allocated to states to pay workers, not to talk of building bridges

True talk!
But the real question is Does Buhari know how to do this? Can he handle economic issues as these?

Cos I see him only competent in issues if Security and Corruption.

Seems like all he's interested in.

Aye o le.
Re: Trouble As China Dumps Nigerian Crude Oil by persius555(m): 9:27pm On Jun 09, 2015
Left to me, PMB should solidify our patnership with brazil, India, Iran. These countries share a lot with us. Their focus is self sustainance, when last did these countries seek assistance in the US-China axis. China is gradually imposing itself on economic power brokers on the global stage. At the moment, china holds the ace card in the continent, everyone is going cap inhand to china becos it has enough in its foreign reserve, we shouldnt stoop low to be anyone's puppet. The nigerian industrial spirit will outshine crude oil.

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