jpphilips:


SMH, you guys are incredibly ignorant. The JV investment funding is structured as loans, if the IOC pays, then we settle with PSC depending on the location, if they pay while waiting, NAPIMS settle with cash calls, signing that contract is like approving a loan guarantee for future investments, no kobo exchanged hands, no service is rendered, that's how it works because we are joint venture Partners with the IOCs, they will not invest a kobo if we don't pay our 60% liability or at least give them a guarantee that we will pay, for the DSDP, it is like inviting someone to refine our crude and deliver products, logistics and financing are all factored inside it reason it is called direct sales and direct purchase, though it retained the name "contract" because the vendor owes us a supply obligation, the value Kachikwu attached to the said contract (perhaps to sensationalize it) is the value of crude expected to be exchanged within the period, in this case 1yr. again we paid nobody nothing, we only anticipate to give the person oil and receive products in return within the period, if we have from the DSO.
It's a simple process that by now, people clamouring for resource control but never mentions investment cost knows they are f00ling around.

jpphilips:


You are too dumb to realize that the JV contracts in question are structured like loans.

Marshalxv:


See how you're disgracing your generation. who said the contract in question was the joint venture loan? since when did contract become a loan?

let me clear your gullible crawling IQ, there's is indeed a joint venture loan between two firms mentioned earlier in the thread and there were contracts awarded without due process. The VP said he only signed the joint venture and not the contract,dumb head!