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Nairaland Forum / Nairaland / General / Politics / NNPC Discontinues OPA, Adopts Direct Trading Of Nigeria’s Oil (4052 Views)
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Re: NNPC Discontinues OPA, Adopts Direct Trading Of Nigeria’s Oil by laudate: 8:23pm On Nov 04, 2015 |
BALLOSKI: Guy, you want me to reveal how these sharp practices are conducted?? I want to live long. I am not ready to see my name on anybody's hit list. Kindly note that agreements signed with these offshore refineries are done in form of documents that recognise these Nigerian oil traders, as their clients, or affiliates. It does NOT confer ownership of the refineries, on any of these oil traders. If NNPC staff get those documents, all they do is send an e-mail or conduct their due diligence to confirm that those agreements were actually issued by the refinery, and are still valid. Do you get?? On that basis, they could assign a crude cargo to the local oil trader under the presumption, that the cargo would go to that specific refinery, without realising it could be diverted elsewhere. Now, if that cargo of crude is loaded on board a vessel and it does not get to to the said refinery but it is directed to another refinery elsewhere, how would NNPC know? They might find out, but it would probably take time and it would most likely be discovered after the deed has been done. As for the Abidjan refinery, I am not aware that it was blacklisted by NNPC. When was this done?? Secondly, with respect to petroleum products, most of the vessels operating in West African waters have local crew on board. Sometimes, these vessels come into Nigerian waters and their documents are duly stamped on arrival. During discharge of the products, shortages could occur which are not recorded on the documents. Some local staff at the point of discharge could be made to turn a blind eye, for the right fee. But full fees are still paid by the federal govt/NNPC to cover the entire product, on the misguided assumption that full delivery of the specified quantity has been made. Now, if these shortages accumulate over a period of time, who turns out to be the loser?? The receiver which is the govt or NNPC. Another scheme is bring the vessels fully laden with products into Nigerian waters, where it is officially inspected and the documents are stamped. Later, these vessels sail away without discharging their products, (or after only partial discharge of a nominal quantity) under some guise or the other. Such products are then sold to other buyers off-shore. Yet the relevant documents are stamped as being fully discharged into Nigerian depots, after money has exchanged hands. Thirdly, another scheme is for some unscrupulous dealers to just forge the appropriate documents, and get them stamped without even bringing any vessels or importing any petroleum products. Such documents are then presented to PPRA, NNPC etc for processing and payment. Again, for this to occur, money has already been exchanged from the top to the bottom of the chain. Finally, with respect to owning a modular refinery, I was talking of setting up such refineries within Nigeria, under a specified period of time. Niger-Delta Petroleum Company (NDPC) has a modular refinery in Delta State which it uses to refine crude from its own oil wells, to produce diesel. It is a small operation, but for now it serves their purpose and they are also able to sell part of the diesel they produce within the country. More firms need to be encourage to set up such refineries, to boost our local refining capacity. Making Modular Refineries Profitable | by BY MICHAEL EBOH | Vanguard Newspapers, October 06, 2015 | |
Re: NNPC Discontinues OPA, Adopts Direct Trading Of Nigeria’s Oil by BALLOSKI: 12:51pm On Nov 12, 2015 |
laudate:wow! Most educative post of the year. Trust me to call u up, whenever an issue of this nature is brought up. You are an authority in this - you are so vast. |
Re: NNPC Discontinues OPA, Adopts Direct Trading Of Nigeria’s Oil by BALLOSKI: 11:40pm On Sep 24, 2017 |
omenka: |
Re: NNPC Discontinues OPA, Adopts Direct Trading Of Nigeria’s Oil by RomeSankara: 11:48pm On Sep 24, 2017 |
Commendable is well implemented but as we all know Buhari is a very disorganised character and don't be suprised if the admin and logistics around this scuttled by his disorganization and acute fuel scarcity surfaces in no time |
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