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NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery (9193 Views)

Experts Criticize FG Over ₦568.5 Billion Vote To Repair Loss-Making PH Refinery / Bala Mohammed Awards ₦3.6 Billion Contract To His Own Company / NNPC Signs $3.15bn Financing For OML 13 (2) (3) (4)

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Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by CSTRR: 2:01pm On Apr 07
Neutralobserver:


Have you heard of anyone buying a scrap refinery?

Let them fix it, and let it run properly.
Yes,you can sell the parts as scraps.
it's not difficult.

All the wasted billions they have invested in refurbishing and turn around maintaince have not taught you lesson?
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by IamNumeroUno: 2:19pm On Apr 07
Neutralobserver:


Okay



Which is why I didn't vote for him or support him, or beleive him when he said there was no subsidy. You on the other hand chose to beleive him and vote for him because N40 fuel was so alluring to you.





Nope, Venezuela is free to supply crude to china and russia and cuba, for example. They also sell oil in the US via Citigo oil....plus the smugglig happens because the smugglers make a lot of money

To stop the smuggling, Maduro their leader removed subsides partally over a year ago. The issue was to make it unattractive to smuggliers to smuggle fuel to countries like colombia...

You obviously don't understand how a subsidy works....no wonder you beleived Bubu so easily. cheesy



We need, for example according to the ASUU-FG agreement of 2009, 3 TRILLION naira over 2 years in extra funding for universites...money that has not been paid because subsiidy, among other things

Yes corruptiuon is affecting the money, but it is too small to begin with. We need a larger amount of money than we are spending right now on education, health, etc. Saying that does not mean I excuse government corruption or mismanagement.


I

Yeah...there are many reasons not to vote for APC. Or PDP. So, go ask his supporters how their leader spends the cash, not me.

The corruption in APC is bad. Lord knows that's why I don't back them



Niger, Benin, and Togo spend above N300-400 per liter of fuel. Cameroon spends N418 PER LITER. These costs can be verified online.



And Angola and ALGERIA HAVE LESS than 50 million people each...while we have 200 million people...so they have more cash to spend subsidisng fuel. We have far more people than they do.

Our large peopulaiton is one of many reasons why we cannot just live on oil alone....and why your APC has failed in their promised diversificaiton.




Do you expect a FAMILY of ten to eat the same as a family of three , on the same income?



And Niger runs its refineries on profit...so they have the money to pay for refinery repair.

Plus Canada produces far more oil than we do, yet oil costs over N300 there.



That because we have been selling fuel below the produiction price, we cannot run our refionereis profitably....hece they have fallen into a mess.



Name them. I',m waiting.

You kept saying, ''your APC, your party, you voted for Buhari''. First of all, I am not in Nigeria, I couldn't possible have voted for him. Secondly, my comments should tell you that I am not a supporter of Buhari, never have been and never would be.

When we talk of oil and you keep bringing Benin, Niger and Togo. Nigeria has 20x Benin oil, do you expect Nigerians to pay equivalent amount for fuel like Benin, Cameroon and the rest? Being that Nigeria's production in a day is more than 30x theirs. We have excess oil, therefore, we must pay less. I can't be a yam farmer and continually buy pounded at a very expensive price.

It is a very big fat lie that U.S still buys oil from Venezuela. You were obviously talking about the old ways. Since the sanctions, Venezuela's export has collapse, thus, the need to source for other buyers, behind US back. You are not current.

''HOW DO U.S. SANCTIONS AFFECT THE SECTOR?
The January sanctions prevented U.S. companies from dealing with PDVSA, and a clause that became effective in April blocked PDVSA from operating in the U.S. financial system.

The asset freeze announced in early August threatens sanctions against any company deemed by Washington to be “materially assisting” Venezuela’s government.

While the January sanctions included similar language, U.S. national security adviser John Bolton last week said the new round gave companies a choice between doing business with Maduro or the United States. That has spooked PDVSA’s joint venture partners and customers, who are seeking clarity on the measure, sources said.

WHAT ABOUT U.S. IMPORTS?
U.S. imports of Venezuelan crude have collapsed to zero in the wake of sanctions. In the week ended Jan. 25, just before sanctions were announced, U.S. refineries imported 587,000 bpd.'' - Reuters
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Nobody: 2:54pm On Apr 07
IamNumeroUno:


You kept saying, ''your APC, your party, you voted for Buhari''. First of all, I am not in Nigeria, I couldn't possible have voted for him. Secondly, my comments should tell you that I am not a supporter of Buhari, never have been and never would be
.

Well, you beleived in his comment that there was no subsidy....so

When we talk of oil and you keep bringing Benin, Niger and Togo. Nigeria has 20x Benin oil, do you expect Nigerians to pay equivalent amount for fuel like Benin, Cameroon and the rest? Being that Nigeria's production in a day is more than 30x theirs. We have excess oil, therefore, we must pay less. I can't be a yam farmer and continually buy pounded at a very expensive price

In Benin, fuel costs N318, Niger N370, and Cameroon N418. As a result, smugglers are takiong advantage of the price differential to suggle fuel across the broder. Has been going on for over ten years....and as a result, we import far more fuel than we need...which wastes our foreign reserves in these ways

1.We over import because smugglers buy our subsidsed fuel, lie about where it is going to, and then

2.We over subsidise fuel that won't be sold here.

The only way to stop the smugglers completely is to stop subsidsing fuel. Other methods have failed. Incluiding closing the border..

Plus, we don't have excess oil....we produce just about the same amount of oil as the UAE, yet because we have 20 times the population of the UAE, we cannot have the same level of life as the UAE.

Either we cut off 150 million Nigerians , or we accept we are not rich enough.

It is a very big fat lie that U.S still buys oil from Venezuela. You were obviously talking about the old ways. Since the sanctions, Venezuela's export has collapse, thus, the need to source for other buyers, behind US back. You are not current.

''HOW DO U.S. SANCTIONS AFFECT THE SECTOR?
The January sanctions prevented U.S. companies from dealing with PDVSA, and a clause that became effective in April blocked PDVSA from operating in the U.S. financial system.

The asset freeze announced in early August threatens sanctions against any company deemed by Washington to be “materially assisting” Venezuela’s government.

While the January sanctions included similar language, U.S. national security adviser John Bolton last week said the new round gave companies a choice between doing business with Maduro or the United States. That has spooked PDVSA’s joint venture partners and customers, who are seeking clarity on the measure, sources said.

WHAT ABOUT U.S. IMPORTS?
U.S. imports of Venezuelan crude have collapsed to zero in the wake of sanctions. In the week ended Jan. 25, just before sanctions were announced, U.S. refineries imported 587,000 bpd.'' - Reuters


I should have been more sepcific

Venezuela owns an oil company called CITIGO....which operates freely in the USA. Now isn't that interesting....(Sanctions prevent them from reaping the financial beneifts in Venezuela...it does not stop them from operating there)

Plus, I proved to you that if people are being 'punished' for buying Venezuelan oil...how come China, Russia and Cuba buy oil from Venezuela?

Now...I understand you think we should be spending money on subsidisng fuel. But we cannot. We spend N1 trillion annually subsidsing fuel. Educaiton does not get that much.
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by IamNumeroUno: 3:09pm On Apr 07
Neutralobserver:
.

Well, you beleived in his comment that there was no subsidy....so



In Benin, fuel costs N318, Niger N370, and Cameroon N418. As a result, smugglers are takiong advantage of the price differential to suggle fuel across the broder. Has been going on for over ten years....and as a result, we import far more fuel than we need...which wastes our foreign reserves in these ways

1.We over import because smugglers buy our subsidsed fuel, lie about where it is going to, and then

2.We over subsidise fuel that won't be sold here.

The only way to stop the smugglers completely is to stop subsidsing fuel. Other methods have failed. Incluiding closing the border..

Plus, we don't have excess oil....we produce just about the same amount of oil as the UAE, yet because we have 20 times the population of the UAE, we cannot have the same level of life as the UAE.

Either we cut off 150 million Nigerians , or we accept we are not rich enough.



I should have been more sepcific

Venezuela owns an oil company called CITIGO....which operates freely in the USA. Now isn't that interesting....(Sanctions prevent them from reaping the financial beneifts in Venezuela...it does not stop them from operating there)

Plus, I proved to you that if people are being 'punished' for buying Venezuelan oil...how come China, Russia and Cuba buy oil from Venezuela?

Now...I understand you think we should be spending money on subsidisng fuel. But we cannot. We spend N1 trillion annually subsidsing fuel. Educaiton does not get that much.

I supported GEJ's decision to remove subsidy, but Buhari and the rest opposed it. They now turned around and want to remove same thing they were against? Mbanu.
Let it be 1:1 GEJ failed to removed subsidy, Bubari too failed. When a new government entirely comes up by 2023, we may then review its policies and support to remove subsidy. For now, let's maintain status quo.

We can't trust that removal of subsidy benefits an average Nigerian on the street. If the government can't do well with all the loans they already collected and wasted, why should we agree to suffer for them to continue to feed fat? Instead, let the subsidized price remain, that is the only way an average man benefits from the "national cake".
I hope you get my point now.
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Duplexxx: 5:17pm On Apr 07
Na dem dem
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Nobody: 5:17pm On Apr 07
IamNumeroUno:


I supported GEJ's decision to remove subsidy, but Buhari and the rest opposed it. They now turned around and want to remove same thing they were against? Mbanu.

I have supported subsidy removal since 2011, when i first udnerstood how bad it was for our economy.


Let it be 1:1 GEJ failed to removed subsidy, Bubari too failed. When a new government entirely comes up by 2023, we may then review its policies and support to remove subsidy. For now, let's maintain status quo

Well, since you and i are not in government....we can do nada. But subsidy is the reason why we don't have good refinereis, and why we ended up importing.

We did not put a subsidy on GSM. GSM made insane profits from our pockets, and used those profits to build our IT sector up..

We can't trust that removal of subsidy benefits an average Nigerian on the street. If the government can't do well with all the loans they already collected and wasted, why should we agree to suffer for them to continue to feed fat? Instead, let the subsidized price remain, that is the only way an average man benefits from the "national cake".

Well, subsidy benefits

1.More investment in refinereis, meaning more jobs, directly and indirectly

2.More money saved...meaning more spending potentially on educaiton, health, etc.

3.Less potential debt.
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Superboss: 6:16pm On Apr 07
Neutralobserver:


And was anyone lining up to buy the scrap?

Be reasonable.

Was it put for sale?
Think about it.
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Nobody: 6:52pm On Apr 07
Superboss:


Was it put for sale?
Think about it.

And if the refinery works again after the renovation?

I wonder why you guys are opposed to making a refinery work.....if it does not work in 5 years, then you can complain.

1 Like

Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Superboss: 7:05pm On Apr 07
Neutralobserver:


And if the refinery works again after the renovation?

I wonder why you guys are opposed to making a refinery work.....if it does not work in 5 years, then you can complain.


Lol! If it works again?
Do u know how much they have been spending on TAM (Turn Around Maintenance) of these refineries from the days of OBJ till date?
Even if it is repaired, do u know how much that we will be spending in maintaining it- to keep it up to d current technology?
How do u feel repairing a 1970 vehicle to in order to use it in 2021?
We know how these things work. Those that are eager for this repair are only in for their 'cuts' not the functionality of the refinery.
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Dasuks(m): 7:33pm On Apr 07
If this is done in earnest, Nigeria will see real progress. In addition to Dangote's we will be looking at about 900,000 bopd processing capacity (excluding the other projects)

With the devt of the rail frieght corridors and the multiple port projects, na so Buhari done actually work pass everybody. Like joke joke. Literal transformation of the Nigerian economy.

Please no Emeka Offor-like TAM shenanigans.

2 Likes

Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by vineyardfarms: 7:38pm On Apr 07
kirajustice:
POLITICSNIGERIA.COM


https://politicsnigeria.com/nnpc-signs-1-5billion-contract-for-rehabilitation-of-ph-refinery/

Wonders they say shall NEVER END. THIS IS THE MOST UNCIVILIZED- UNCULTURE, WASTEFUL ,- UNPRODUCTIVE DECISION NNPC/APC / PMB JUST TAKEN TO KEEP LOOTING THE TREASURY. A FUNCTIONING REFINERY, WITH HIGH PRODUCTION CAPACITY WAS SOLD FOR $1.2b by shell in the USA. WHY WASTING $1.5b to rehabilitate a dead refinery for 44 months when same amount can be use to build NEW REFINERY- within a year with a higher production CAPACIY. Even a 4 yrs old will make a better more informed decision that is productive. THE BLIND ARE NOW CONTROLLING THE WHEEL OF THIS NATION. GOD DELIVER NIGERIA. ANEN
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by Okoroawusa: 7:40pm On Apr 07
I Love PMB
Re: NNPC Signs $1.5 Billion Contract For Rehabilitation Of PH Refinery by chaloskyx: 12:39am On Apr 08
NO PROBLEM BUT WHAT NIGERIANS SHOULD TELL THEM IS IF THE REFINERY IS NOT COMPLETED ALL INDIVIDUALS WHO SIGNED OR ARE PARTY TO THIS DEAL MUST GO TO JAIL

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