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Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria (45116 Views)

Oil Price Risen To $93 Per Barrel Highest In Seven Years / Earn $4 Per Song Listening To Music From Nigeria / Crude Oil Trades Above $75 Per Barrel As Netanyahu Point Finger At Iran (2) (3) (4)

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Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by olaeffect(m): 2:30pm On Jun 02, 2020
Atiku said he was going sell this fraud, we said no.
1. NNPC is the clog in the full liberalization of the oil sector in this country.
2. Few people in Nigeria are the only ones benefiting from NNPC at the detriment of Nigerians.
3. If NNPC is sold today, private refineries will spring up from tomorrow everywhere in this country by tomorrow, producing petroleum products and selling and competitive prices against each other.

1 Like 1 Share

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by SLOVFO(m): 2:30pm On Jun 02, 2020
And what happens in the end? Nothing.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by tot(f): 2:30pm On Jun 02, 2020
Hopefully it gets to $0 profit soon so that there would no longer by any easy money to loot.

1 Like

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by BankyGee(m): 2:32pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.
Bros calm down abeg

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by kennieG(m): 2:33pm On Jun 02, 2020
And your still in Nigeria grin cheesy
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by saajus: 2:33pm On Jun 02, 2020
Cost of production. We need to drag those oil companies into this too.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Mikeshine(m): 2:34pm On Jun 02, 2020
AllenSpencer:
Nigeria needs to be sold and we share the money the money amongst ourselves.


Even if it is sold they will steal embezzle the money

1 Like

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Nobody: 2:34pm On Jun 02, 2020
Slawormir:


My niggarrr
I must tell you
You need to slow down
No matter the amount of weed we smoke we can never be the most high. Only Jah( God) is the most high

cheesy
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Enyimbamercedes: 2:36pm On Jun 02, 2020
NO basis for comparison
You cannot realistically compare the cost of off-shore drilling with onshore
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Dee60: 2:37pm On Jun 02, 2020
The corruption in this country is truly and enormously fantastic.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by AllenSpencer: 2:37pm On Jun 02, 2020
Mikeshine:


Even if it is sold they will steal embezzle the money

At a time, but we still be guaranteed of a better life.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by otokx(m): 2:39pm On Jun 02, 2020
corruption
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by OSASBOI: 2:41pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.
i quite agree with you.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by azpekuliar: 2:41pm On Jun 02, 2020
ddippset:
So many fools in this country.

Imagine someone even saying Buhari should hurry up and diversify the country.

As if diversification is like fuccking Olosho for a very very long duration of 2 mins.


We have finally seen how useless this zoo we call our country is.

For years we have been doing nothing but collect oil money.

Bunch of clowns cheesy cheesy cheesy cheesy
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Kobicove(m): 2:42pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.

What you wrote is complete nonsense!

1 Like

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by dataplan1: 2:42pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.

I hail u
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by EmmanuelBanks: 2:42pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.

go and sleep and wake up again...ode!!!!
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by yaki84: 2:43pm On Jun 02, 2020
ednut1:
Old wells, pipeline vandalism, government taxes as much as 85%, community settlement. Some kings get up to 1m dols a month. Etc. A disgrace of a country
It doesn't still add up to 21dolls for production of a barrel
Dont forget they r not drilling in the same field or well.
And some states are more friendly to iOCs than others, so why peg it at uniform rate?
Na we dey do ourselves

2 Likes

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Meritocracy: 2:43pm On Jun 02, 2020
Thanks for COVID 19 for resetting their brains. If not COVID 19 that dropped oil to $25 nobody cares about dubious cost of production. Immagine the looting machine called minister still defending the undefendable.

2 Likes 1 Share

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Nobody: 2:44pm On Jun 02, 2020
Nigeria is finish, pls share thissssssssass country ooooooo
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by OROSUNBOLB(m): 2:44pm On Jun 02, 2020
Everything about Nigeria stinks,but unfortunately the people seem to like the odour !
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by ednut1(m): 2:47pm On Jun 02, 2020
yaki84:

It doesn't still add up to 21dolls for production of a barrel
yes it does. The last one i calculated for my last client in Nigeria was 19 usd. When you add royalty, gas flaring penalties, maintenance costs, community settlements, pipeline costs and storage, expatriates, materials etc. Its over 20 dols per barrell. The company lost over a million barrels in 2019 to theft
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by pretyval: 2:47pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.

Buhari no sabi read English ooo... all this grammar will just make him laugh and say “dis fiffle neva serious fah!!”

Well, for premium quality window blinds, 3d panels, wallpapers and interior decor stuffs , follow @naddsandgray on iG or visit www.naddsandgray.com

1 Like

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by dazzlingd(m): 2:48pm On Jun 02, 2020
Now we know how some people are raking in billions...
Why the abnormal high cost of production.....see thieves
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Liadi2(m): 2:48pm On Jun 02, 2020
The write up is a fake article, the cost of production is high in Nigeria due to the nature of our oil.

1 Like

Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by karkinase(m): 2:49pm On Jun 02, 2020
shocked.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by yaki84: 2:51pm On Jun 02, 2020
ednut1:
yes it does. The last one i calculated for my last client in Nigeria was 19 usd. When you add royalty, gas flaring penalties, maintenance costs, community settlements, pipeline costs and storage, expatriates, materials etc. Its over 20 dols per barrell. The company lost over a million barrels in 2019 to theft
Outside community settlements, the other fees are or should be applicable to other foreign countries that drill too. Why is ours still on the high side, or is the community settlement so big that we can't see?
Are u saying saudis don't maintain their storage facilities or pipelines, dont they pay expatriates, don't they pay royalty or gasflaring penalties too?
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by EBEk101(m): 2:51pm On Jun 02, 2020
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.
Oga u dey vex oh
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Tmiky: 2:51pm On Jun 02, 2020
Bad ASS Niggarz Are there for their pocket, to buy expensive houses, Cars n what have you, home and Away.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by Larryallfather(m): 2:52pm On Jun 02, 2020
I swear you are spitting balls outta your mouth
apache22b:
This Government of Buhari is so dumb and i am ecstatically delighted and disproportionately flabbergasted with enormous gratification and appreciation for the dispensation of such a tendering and mesmerizing information in which the prestidigitation of the concurrent and subsequent matter is thoroughly demonstrated through the innuances alluding to literal and metaphorical context. It is highly imperative to note that, such is the significance of the aforementioned, distortion in any shape or form will result in catastrophic ramifications to which will be the outcome of epic proportions. I thank you for your unequivocal.
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by chaloskyx: 2:53pm On Jun 02, 2020
yes o senate would kick because the high production cost is reducing their share of the national cake. once they can reduce the cut the savings derived can be channelled into their pockets. this i exactly what they are thinking the cost savings has nothing to do with the average nigerian
Re: Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria by MYMINDER(m): 2:56pm On Jun 02, 2020
3 major differences:

1. Production levels per day are a lot higher than Nigeria: Economies of Scale. Russia is about 11m and Saudi Arabia is 12m while Nigeria is barely 2m.

2. Better infrastructure in place.

3. Falsification of production costs (higher then actual) to encourage corruption and malfeasance.

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