IMPORTANT INFORMATION
1) One barrel of Crude oil = 42 gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined)
capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing
equipment = 30% i.e. 133,500 barrels per day.

4) 133,500 barrels = 21.2 million litres
5) Local required consumption (F.O.S) =
12millions litres
6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.
7) The cost structure of crude oil per barrel (i.e. Qua Iboe Crude Oil) production; -
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69
True cost of one BARREL of petroleum anywhere in Nigeria:
- Total sum cost/barrel = $34.8
1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02
9)
9) Let FGN refute the above composition and if not, they should tell us how they came about
N95/N85 litre.

10) Locally refined products cannot be sold at International price.

11) We really do not need FGN SUBSIDY as there was NONE in the first place.

12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION.

Pls re-post until it gets to the right quarters for their response; We still stand a chance as a COUNTRY.

Analysis by Professor Tam David West, former Petroleum Minister.

https://web.facebook.com/tony.amba1?fref=ts

I thing I know that can't be changed easily until positive change comes is that our politicians are dubious and everything they do is for their personal enrichment. Nigeria is really bless.

Interesting, if this is true, then I'll start a protest until I'm heard. My protest go pass bringbackourgils.

This one go make sense.

How can we believe this?


However, if it is true, hmmm.....mm?

We need the change

lanrema:
IMPORTANT INFORMATION
1) One barrel of Crude oil = 42 gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined)
capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing
equipment = 30% i.e. 133,500 barrels per day.

4) 133,500 barrels = 21.2 million litres
5) Local required consumption (F.O.S) =
12millions litres
6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.
7) The cost structure of crude oil per barrel (i.e. Qua Iboe Crude Oil) production; -
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69
True cost of one BARREL of petroleum anywhere in Nigeria:
- Total sum cost/barrel = $34.8
1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02
9)
9) Let FGN refute the above composition and if not,

Interesting

eye go soon clear

Politicians na Dem Dem

This Op (professor Tam David West - former petroleum minister) why didnt he correct the nonsense during his time? Why did we also buy fuel at a higher price during his tenure?.... I don talk sey i no go dey insult anybody 4 nairaland again oo