Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,824 members, 7,956,114 topics. Date: Monday, 23 September 2024 at 02:45 AM |
Nairaland Forum / Nairaland / General / Business / Ozza Joint Ventures Plans $100m Oil Refinery In Abia (3835 Views)
International Glass Industries Back In Abia State - Ikpeazu - Photos / Ventures Africa Richest People In Africa! / Harvard Business Article Praising Dangote's Oil Refinery (2) (3) (4)
Ozza Joint Ventures Plans $100m Oil Refinery In Abia by ak47mann(m): 2:41pm On Sep 05, 2011 |
A consortium of indigenous oil refinery companies known as Ozza Joint Ventures Oil Field Limited is to start refining crude oil in Umuokwo, Ukwa West of Abia State with a whopping sum of $100 million. The consortium, Millennium Oil and Gas Limited, Emerald Oil and Gas and Hardy Oil Nigeria Limited, said the group has so far spent about $1 billion on various tests that will spur the commencement of production. Leader of the group, Andrew Uzoigwe, who disclosed this at the Executive Chambers of Government House when the group paid a courtesy visit to Governor Theodore A. Orji, hinted that the group was the first indigenous one to align with the Federal Government in the oil sector. Uzoigwe said that during the period the group was carrying out tests, the atmosphere was not investor-friendly due to the activities of kidnappers. He however added that the situation was back to normal. According to him, the group is on the verge of getting its flow station, adding that it has already signed a memorandum of understanding with the host communities. He solicited the support of the governor, noting that the group still has challenges with the Nigeria Security and Civil Defense Crops and Mobile Police that have besieged its operational base Uzoigwe pleaded with the governor to prevail on the NSCDC operatives to vacate the base and also assist the group in the court case hanging on them as a result of communication gap. “Now that we have finished the testing, we would like to go into commercial production so that the first product will be brought to you for us to showcase that indigenous companies can do better,” said Uzoigwe. It would be recalled that NSCDC operatives arrested some staff of Ozza Joint Ventures Oil Field Limited for alleged illegal drilling of oil at Ukwa West barely a fortnight ago and charged them to court. Governor Orji, in his response, however said if the organisation had earlier informed him of their activities in the state, nobody would have harassed them. He said that initial information reaching his office alleged that the oil firm was operating illegally until recently when he found out that was not the case, pledging the readiness of his administration to partner with the investors. BUSINESS NEWS www.businessnews.com.ng/2011/09/03/ozza-joint-ventures-plans-100m-oil-refinery-in-abia/ |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by ak47mann(m): 2:44pm On Sep 05, 2011 |
This is the real positive move l have observed in Nigeria recently. People across the south east and south south should emulate the move.This is one way to deal with kidnapping and armed robbery by providing jobs to millions of unemployed youths roaming the streets of Nigeria. Governor Orji should see this as a rare opportunity. GOOD |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Seun(m): 4:16pm On Sep 05, 2011 |
Source? |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by ak47mann(m): 5:12pm On Sep 05, 2011 |
If you goggle Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia you will see it there. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by mbatuku1: 7:42am On Sep 06, 2011 |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by gidson12(m): 12:38pm On Sep 06, 2011 |
interesting |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Johnpaul2k2(m): 12:47pm On Sep 06, 2011 |
Orji has been finally delivered from the disease of "kalous and PPA partious' infection |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by clomn(m): 12:50pm On Sep 06, 2011 |
i hope abia people will settle down for this development and not going to rob or kidnap the worker/investors. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by PointB: 12:56pm On Sep 06, 2011 |
A consortium of indigenous oil refinery companies known as Ozza Joint Ventures Oil Field Limited is to start refining crude oil in Umuokwo, Ukwa West of Abia State with a whopping sum of $100 million. Something is wrong with this picture. You are invest a[b] whooping sum of $100 million, [/b] but you spend about[b] $1 Billion on test[/b]. I think something is terribly wrong with this project, I am not jumping up! 1 Like |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Kx: 1:01pm On Sep 06, 2011 |
Johnpaul2k2:why commend orji, is nt this a non govt project? |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Bliss4Lyfe(f): 1:18pm On Sep 06, 2011 |
This is wat I love about the igbos, as soon as oil is discovered in their region. Their brains go to work and day want to build everything from oil rig to refinery. Expect more indigenous oil refinery companies in Anambra as they too in three months time will join the list of oil producing States. Imo to follow as well as Abia. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by sley4life(m): 1:27pm On Sep 06, 2011 |
promise & fail |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by 27naira(m): 1:41pm On Sep 06, 2011 |
ak47mann: Fallacy! 1 Like |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by ak47mann(m): 1:52pm On Sep 06, 2011 |
^^ HW IS IT A FALLACY ?? |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Nobody: 1:59pm On Sep 06, 2011 |
sley4life: 27naira: I agree. Remember orient oil and gas promises of building an oil refinery at otuocha and drilling oil at anambra river, till today nothing to show for it. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by hackney(m): 2:01pm On Sep 06, 2011 |
Whether true or not its time a section (any section) of the country does this kind of thing. The refinery saga in nigeria is shameful. The same can be done for Power. these things seem overwhelming until a small group come together and tackle it head-on. then people will say: hmm, so that can be done? |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by NatGas(m): 2:06pm On Sep 06, 2011 |
2much talk! |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by sheyguy: 2:17pm On Sep 06, 2011 |
ak47mann: Test project alone 1 billion dollar and the plan to build a 100million dollar refinenary. what is the proposed capacity of this refinenary? |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by jason123: 2:31pm On Sep 06, 2011 |
If true, then, very good!!!! |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Rgp92: 2:43pm On Sep 06, 2011 |
It is just a plan, they wont build it. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by doctokwus: 3:58pm On Sep 06, 2011 |
Jst because its a laudable idea dos not mean we shd blv it.Where wi dey source d so calld $100million frm.For my 5naira,I tink dese ar jst a grp of pple who want to bamboozle evrybody wt high sounding figures in order to c if d state govt can b fooled to stat pumpin money into a non feasible project!$100m kor,$1b ni,some pple tink its 5kobo bc of d brazen ways politicians steal in dis country,conmen dey are! |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by SouthEast2: 4:17pm On Sep 06, 2011 |
Point B Could be a typo from the reporter. You know Naija type of journalism. Just reverse the figures for the test and total investment and you get the true sense. Bliss4Lyfe: Abia and Imo has been oil-producing states since the ''creation'' of Nigerian oil. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by PointB: 4:49pm On Sep 06, 2011 |
South.East: Let's hope so. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by OkparaIgbo: 4:57pm On Sep 06, 2011 |
Ndi B'anyi deje nu ooohh Chukwu me re unu iheoma ma na ache Ndi Igbo nile Ihe a o gi gozie anyi, anyi g ewe ya kporo ihe ma dozie ala anyi, Iseee eeeeeh |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by teemon: 5:40pm On Sep 06, 2011 |
Good News but i hope it won't be another orient refinery that have not output anything till today o! |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Nobody: 6:59pm On Sep 06, 2011 |
The story makes no sense business wise, the numbers I see from the little quoted do not add up. Well I'll watch and see how they go about it. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by renewnaija(m): 7:08pm On Sep 06, 2011 |
The numbers are dodgy but the general concept is good (as always), and (as always) we await the implementation stages-design, construction & O/M. If they focus on it, they will achieve it. And I'm sure it will succeed since it is not a govt project. However, how do other beneficiariesfrom the existing system view this? Will the competition aka oil cabal controlling that region allow it come to fruition? South.East: Do you mean oil in commercial quantities or based on speculation? Kindly educate us. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by ogmyth: 8:50pm On Sep 06, 2011 |
This is the miost laughable sstatement, i have seen, you do test with $1billion, and invest 10% of the cost of your test $100 million. Unless is a mistake somewhere, it is funny. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by VIPICO(m): 9:59pm On Sep 06, 2011 |
The figures are phoney already. I sense con-artistry here. |
Re: Ozza Joint Ventures Plans $100m Oil Refinery In Abia by Nobody: 4:19am On Sep 07, 2011 |
That refinery is a waste of money! A refinery IS NOT VIABLE in Nigeria. That is why local and international banks have refused to lend money to investors who want to build refineries. They all fizzled out for lack of funds. Why? Because Nigeria's domestic market is distorted due to price fixing by the government. The cost of refinery inputs (Crude oil, construction and maintenance costs, workforce costs etc) is set in the open (international) market while the government fixes the prices of refinery outputs to below costs by populist political fiat.[b] That is why the existing refineries are hemorrhaging and running at monumental losses. [/b]A refinery is a failed business venture in a non-deregulated market. |
(1) (Reply)
Importation Of Electronics Into Nigeria Market / I Want A Partner To Start An Online TV And Online Radio Podcast / Please Help Me Out On This Business Idea.
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 42 |