qtx:

Look here young man, am not joking here , sho gbo?.

And who says I'm joking, you can look forward to the next auction, but this one of shell, I bought it already, ain't kidding ogbeni, do you know how long I have been following up.on this bid, don't try rubbish with me😒

Lagosianswag:
The buyers' names should be listed in the dailies.
Transparency in this transaction is needed.

Why?
What's your business with a private company's transactions? Do you have shares in the company?

ecolime:


SPDC sold but SNEPCO remains.

The divestment on land and swamp assets has been in the pipeline for several years so this isn't surprising.

SPDC has been sold to Rennaisance. The new major stakeholders in this group are ND western, Aradel and waltersmith group.

I just hope the new owners don't act like typical wicked Nigerian employers 🙄

Their union should follow through on their struggle for severance packages with or without transition to the new owners.

They probably won't. I have authoritative information that Aradel will commence payment of staff in USD starting this month or next.

InteliJ:

Not gonna lie, I thought of this too. Nice observation.

But, what would you choose sir?

A leader in an emerging multibillion dollar field. Or, a random professional in an established but soon to become a niche field.

Life is all about boom and bust.

Know when to enter and when to leave.

Fossil fuels will still be in demand in your lifetime. Google what is happening with EVs in the US….people are not buying. Hertz just put up 20,000 of the EVs for sale because people are not renting them. Look at what is happening in the UK regarding their previous targets.

Understand that the whole green movement just like Covid vaccines is more politics than science. The science does not back up the rhetoric and like most things the truth will eventually out.

Global warming is real but co2 is not the cause of global warming. Co2 is a consequence of Glo l Al warming and global warming g is a natural phenomenon as part of a global cycle that has existed for centuries but if as a scientist you say otherwise all your research funding will be stopped so they all tow the line. It is the same thing they did with Covid, now we are finding out the vaccine is causing heart and other problems and ivermectin actually works. Lithium actually causes more environmental damage than fossil fuels but they won’t tell you that.”

In this life you have to read, research and think for yourself. The same Oyinbo man that told you margarine is good did so to promote their companies, margarine is one of the most unhealthy fats you can consume. The same Oyinbo man that told you palm oil was bad for you did so because they don’t produce palm oil. But guess what? The soya oil they promote is because they can produce soya but soya is bad for men. It damages the male hormones.

The white mania not your friend, always question the motives of the white man. As a mentor once said to me when I got out of university, if you want to u derstand what is going on with the west, follow the money, ask who is making money from this.

The white man has a burning desire to reduce their dependence on energy from u stable or hostile countries. Their reserves of fossil fuels are dwindling. If you understand that you will understand the real reason they are pushing the green agenda.

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

Abeg, what will be the benefit of dangote refinery to the common man?
Apart from employing at most, 100k people, and maybe create business opportunities for some others, how will it alleviate the downward spiral of the economy?

This dangote refinery will not make fuel cheaper nor have any impact on the exchange rate.

I ask again, what positive impact will dangote refinery have on You the common man?

Just a name change to avoid penalties for their crimes. The owners of the SPVs that will buy this Shell are just the same entities that owns it. The low price is to pay less sales tax.

This is global fraud against Nigerians. Multiple levels of fraud.

Tinubu is smart, but he needs smarter people in Aso Rock, and I do not mean Ministers and PAs, he needs people that know the nature of our universe and how Aliens are created. Such minds will teach him about cosmic level of fraud that runs our fictional universe and why Africa is a perennial victim continent.

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

Your narrative doesn't override the fact the Nigerian economy is failing. This is just an isolated case. You ought to consider fundamental factors like the current rate of inflation, exchange rate, etc. If we don't tell ourselves the truth then how can we start moving in the right direction?

casualobserver:


Fossil fuels will still be in demand in your lifetime. Google what is happening with EVs in the US….people are not buying. Hertz just put up 20,000 of the EVs for sale because people are not renting them. Look at what is happening in the UK regarding their previous targets.

Understand that the whole green movement just like Covid vaccines is more politics than science. The science does not back up the rhetoric and like most things the truth will eventually out.

Global warming is real but co2 is not the cause of global warming. Co2 is a consequence of Glo l Al warming and global warming g is a natural phenomenon as part of a global cycle that has existed for centuries but if as a scientist you say otherwise all your research funding will be stopped so they all tow the line. It is the same thing they did with Covid, now we are finding out the vaccine is causing heart and other problems and ivermectin actually works. Lithium actually causes more environmental damage than fossil fuels but they won’t tell you that.”

I've read about all you've said. Fossil fuel will be used forever but I think the demand will decrease a lot.

Good points you've got to be honest

But you know this world is politics sometimes. You've to respect it because if you underate "politics" you might be in for a rude awakening.

Let's just be watching sha. I'm not sure about the future that's why I said time revealeth all things.

InteliJ:

I've read about all you've said. Fossil fuel will be used forever but I think the demand will decrease a lot.

Good points you've got to be honest

But you know this world is politics sometimes. You've to respect it because if you underate "politics" you might be in for a rude awakening.

Let's just be watching sha. I'm not sure about the future that's why I said time revealeth all things.

Very true!

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

If your postulations are anything to go by,
Why hasn’t Shell sell its deep water asset ( SNEPCO)?

casualobserver:


Very true!

Yeah.

I appreciate you sir for keeping the conversation polite. You know nairaland lol I was thinking you'll start cussing me out or something.

Have a good day!

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

Oga you lie. Stop misinforming the public. The reason why they selling off their onshore oil blocks is because it has become increasingly difficult to operate in that terrain where Niger-delta and Ikwerre boys are operating. Hence they are selling off to operate in Deep offshore where it'll be a lot for those militant to operate. More importantly, these companies are increasingly looking towards gas investment. If you know Shell, you'd know they can't engage in such unscrupulous act otherwise they'll be sanction by their government in Netherland.

Donedeal1:
Shell join japa

The jungle don red

No b Beans,shell leaving Nigeria indirectly means something is not well.

Maybbe Shell will use the proceed to build filling stations across Nigeria, now that Dangote refinery is up and running. 😜😜

Any country where you can’t find, at least, 3 of these filling stations, my brother and sister don’t go there to stay for long. Only use such country to quickly step up to another country or else one would su.ffer or be forced to do illegal things to survive.

The filling stations are:
Shell.
Mobil
BP
ChevronTexaco.
Aral.

And any country you see them using keke NAPEP (Marwa) as part of their mainstream means of transportation, my brother run o.

InteliJ:

Yeah.

I appreciate you sir for keeping the conversation polite. You know nairaland lol I was thinking you'll start cussing me out or something.

Have a good day!

I only cuss idi..ots lol

Good luck

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

Such a disturbing high level of ignorance
Wetin concern Shell with importation of refined crude products
You guys must sha claim any company leaving is doing so because it is corrupt and the corruption is being blocked or it can't compete
Yet Betta shared 3bn without breaking a sweat
Dummies

victorVIC1:


Your narrative doesn't override the fact the Nigerian economy is failing. This is just an isolated case. You ought to consider fundamental factors like the current rate of inflation, exchange rate, etc. If we don't tell ourselves the truth then how can we start moving in the right direction?

So you bought the crap he is writing
That's the FreeStuffsNG dude
What is the business of Shell with Refined products
Does shell operate in the downstream?
Was it not same shell that supplied crude to Dangote refinery?
That dude is daft
Ignore him

winterfell007:


Oga you lie. Stop misinforming the public. The reason why they selling off their onshore oil blocks is because it has become increasingly difficult to operate in that terrain where Niger-delta and Ikwerre boys are operating. Hence they are selling off to operate in Deep offshore where it'll be a lot for those militant to operate. More importantly, these companies are increasingly looking towards gas investment. If you know Shell, you'd know they can't engage in such unscrupulous act otherwise they'll be sanction by their government in Netherland.

God bless you
These Zombies are nothing but stupid
Imagine claiming shell is importing refined crude

verybadmouth:
Good they will now be owned by Locals. But we need to know who the locals are o

Since you asked:

InteliJ:
I think oil companies are now moving to sustainable energy

That's the new oil

Is petroleum engineering a viable course to study in big 2024? I don't think so.

But since time revealeth all things, we shall know 5 - 10 years from now.

My exact thoughts. Even when Saro-Wiwa was all over them and the bloodshed was at an all time high, Shell never conceded to the "challenging operating environment". WHY NOW that our leaders and elders have fallen flat and given them premium oil spilling packages for 0.001% shares in Shell?

Their shareholders/analysts have done the math. They've moved to sustainable energy, the new crude and have left the rubble for Nigerians, again, like how they left West Africa with dying slave trading business when they'd moved on to industrialisation.

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

Because Dangote is helping Nigerians selling cement at that price right?

You forget he is running a private business solely for profit. Wait and see the price of petrol if it is going to benefit Nigerians.


If not for the IOCs in Nigeria which NOC care about its workers to pay them a fair wage.

When you talk about the PROS think about the CONS.

Ask yourself why the unions where fighting them from going ahead with this as at last year.

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

You should go and learn the difference between upstream and downstream. I am having difficulty understanding the relationship between the article and what you wrote.

winterfell007:


Oga you lie. Stop misinforming the public. The reason why they selling off their onshore oil blocks is because it has become increasingly difficult to operate in that terrain where Niger-delta and Ikwerre boys are operating. Hence they are selling off to operate in Deep offshore where it'll be a lot for those militant to operate. More importantly, these companies are increasingly looking towards gas investment. If you know Shell, you'd know they can't engage in such unscrupulous act otherwise they'll be sanction by their government in Netherland.

Even the royalties offshore can't be compared to what they pay onshore and these boys still goes and block of their gate to stop operations.

Goodoldays:
Tinubu wee handuu economy,Shettibobo wee handuu security

BurntDodo:


My exact thoughts. Even when Saro-Wiwa was all over them and the bloodshed was at an all time high, Shell never conceded to the "challenging operating environment". WHY NOW that our leaders and elders have fallen flat and given them premium oil spilling packages for 0.001% shares in Shell?

Their shareholders/analysts have done the math. They've moved to sustainable energy, the new crude and have left the rubble for Nigerians, again, like how they left West Africa with dying slave trading business when they'd moved on to industrialisation.

Exactly!

"Challenging operating environment" is just pr

This is a company that's one of the leaders in the oil and gas field. There's something they've seen to make this move.

casualobserver:


Fossil fuels will still be in demand in your lifetime. Google what is happening with EVs in the US….people are not buying. Hertz just put up 20,000 of the EVs for sale because people are not renting them. Look at what is happening in the UK regarding their previous targets.

Understand that the whole green movement just like Covid vaccines is more politics than science. The science does not back up the rhetoric and like most things the truth will eventually out.

Global warming is real but co2 is not the cause of global warming. Co2 is a consequence of Glo l Al warming and global warming g is a natural phenomenon as part of a global cycle that has existed for centuries but if as a scientist you say otherwise all your research funding will be stopped so they all tow the line. It is the same thing they did with Covid, now we are finding out the vaccine is causing heart and other problems and ivermectin actually works. Lithium actually causes more environmental damage than fossil fuels but they won’t tell you that.”

In this life you have to read, research and think for yourself. The same Oyinbo man that told you margarine is good did so to promote their companies, margarine is one of the most unhealthy fats you can consume. The same Oyinbo man that told you palm oil was bad for you did so because they don’t produce palm oil. But guess what? The soya oil they promote is because they can produce soya but soya is bad for men. It damages the male hormones.

The white mania not your friend, always question the motives of the white man. As a mentor once said to me when I got out of university, if you want to u derstand what is going on with the west, follow the money, ask who is making money from this.

The white man has a burning desire to reduce their dependence on energy from u stable or hostile countries. Their reserves of fossil fuels are dwindling. If you understand that you will understand the real reason they are pushing the green agenda.

Elated that there are still minds like yours that ask the important questions and know the real answers.

It's a capitalist move. Like you said "follow the money". They have found a new market to get their raw materials for cheap for EVs and people might not be buying EVs now but give it time, let the political part sink in. Some cities have stated that they will ban the use of fossil fuel passenger vehicles.

BurntDodo:


Elated that there are still minds like yours that ask the important questions and know the real answers.

It's a capitalist move. Like you said "follow the money". They have found a new market to get their raw materials for cheap for EVs and people might not be buying EVs now but give it time, let the political part sink in. Some cities have stated that they will ban the use of fossil fuel passenger vehicles.

They will try and they may succeed to a large extent but they won’t eliminate fossil fuels. To start with it’s one thing to shift to electric vehicles, it’s another to shift the source of energy to power the EVs. It’s another to get electric ships, planes etc. Petrol is not the only byproduct of fossil fuels. Plastics, Fertilizer and many other petrochemicals down to things like artificial fibers for clothes, mattresses, Vaseline, candles ( the list is endless) are all things the world cannot do without and are by-products of crude or natural gas.

Kenochi:
Let me take sometime to educate Nigerians before some people will come here and start claiming that the Economy is failing
Most operators in Nigeria's Upstream Oil and Gas Sector know that their game is up,there was a time Nigeria through the NNPCL had to resort to the importation of Refined Crude oil for close to 20 years.This allowed NNPCL and most Oil and Gas companies to participate in the controversy Oil Swap
Most Oil and Gas Companies used this fraudulent practice to shortchange the country, they collected crude oil and brought back Refined crude oil and still collected subsidy. Nigeria was fair game and all this big Oil companies looted Nigeria dry
Then something happened, the Dangote Refinery was mooted and this would put an end to this evil practice. Most Oil Companies knee that if this Refinery ever started their easy money was over
My people, this is what is happening. I am confident that more Oil companies will leave the country because their access to free money is gone for good

Still selling good properties with good titles at the Ibeju Lekki Industrial Hub....kindly check my signature

Story for the God's. This is beer parlour gist. The oil swaps were with oil trading companies such as Trafigura, Glencoe, Vitol etc. The Shells and Chevron and so on that operate in nigeria did not participate in the swaps.

The main reason they are selling is Nigeria has lost control of the onshore oil and gas business with thieves and crooks taking over the Niger Delta. It has become impossible to operate. You produce 250,000 barrels of oil and only 100,000 gets to the terminal!! Does that make sense?