Gajagojo:

My advice to people like you

Make an effort

Just exert yourself small

Once upon a time a person would walk a distance to go to a library to get that information

You are alive at the best time

Make an effort

thank you for your advice maybe is a matter of interest. Just curious for the first time in this regard. You learn from library and people. I just learned from people here and I think that's not bad.

Get ready for massive monopoly

Gajagojo:


Half knowledge is worse than total ignorance because you are dangerous
You don't know but believe you know everything
Do a quick Google search to see how much Crude Saudi Arabia imports

This same. USA is a net exporter of crude

It imports and exports crude

Which is a completely different business from refining

Any country can go into refining
Totally different issue

Nigeria has the highest quality crude oil in terms of yield and low sulfur
Dangote designed his refinery for. ALL TYPES of crude and does not have to use Bonny light

It is good for the country if it can get a higher price for Bonny light and import cheaper WTI TEXAS
Many of you talk for the sake of talking on issues you are clueless about

TODAY THE PRICE DIFFERENCE IS NINE dollars a barrel calculate that by our daily production in a YEAR

Isn't importing crude another way of putting pressure on the Naira? Even if the crude is slightly cheaper?

favor914:
It is way more expensive to produce crude in Nigeria, then in the United States.

That is not really relevant
The issue is that they are different types
Ours is called Bonny light
Theirs is called Texas WTI
Different refineries are able to refine different types of crude
Some crude are heavy and some are light
Some are high in sulphur which can mean different equipment and cost of refining
Also the litres of petrol per barrel may differ
The market will not pity you and pay you more because your production costs are high.
That is your own business

The main issue is
Nigerian oil is classed as LIGHT and SWEET.. The highest grade

NothingDoMe:
Isn't importing crude another way of putting pressure on the Naira? Even if the crude is slightly cheaper?

That is opportunity cost
If you don't export so Dangote can buy locally you are foregoing dollars you would have earned selling abroad but you would still have to sell dollars to Mobil, Shell ,Chevron to repatriate their share
They are joint owners

Nahunger:


But I didn't tag you na, still yet the thing pain you 😂😂

You must be one of em 30k gheng 😂😂😂

Even if Na 1k. Are you jealous? It ain't none of your business. Save us the balderdash once again

Yorubaponu:

You lie , Dangote is from Lagos not North

Hey! No be me you wan wind

They're monitoring us per minute. No matter what, it's time for Nigeria and Africa to rise and shine to God's glory and to the shame of our detractors. We're richly blessed indeed.

yoruboid:
Get ready for a N400/$ exchange rate by the end of the year

God bless Dangote
God bless Yorubaland
God bless the Niger Delta
God bless the North

End of the year is not far again.

spiSeyi:
imagine a refinery in Nigeria where there is a large deposit of crude oil exporting from US who has no crude oil as natural resource

Your ignorance dey stink

Most of you on this site are just ignorant..

Mr Man the United States of America is the highest oil producing country in the world.. Nigeria is not even in top 10

Kingpele:
anything that will make the price of fuel to come down is acceptable but buying oil from USA when we have our own oil here is confusing

baba mi oil business na high jump oo.. too many complexities, I was telling a friend that Dangote is a business man, he saw a golden opportunity and took advantage of him, he is not necessarily concerned about you and I, but about his personal business..

That we have oil doesn't mean you can just go scoop it up and refine it, intricate deals has to be made, that being said his refinery may have little or no effect on our economy on the long run, because he can't afford to play father Christmas just to please commoners

favor914:
Make your family go start their own business to help you, Dangote no owe you anything.

Or make una go start business to help the poor people in Kano State, way Dangote no fit help for em state.

ok we will get there but not by killing others to be at the top


Meme food

iwaeda:


When we finished deceiving ourselves, truth will laugh at us.

Iwaeda, just wait, the joke will be on you and your Obizombies. Enemies of progress. Nigeria shall definitely be great again.

Gajagojo:

That is not really relevant
The issue is that they are different types
Ours is called Bonny light
Theirs is called Texas WTI
Different refineries are able to refine different types of crude
Some crude are heavy and some are light
Some are high in sulphur which can mean different equipment and cost of refining
Also the litres of petrol per barrel may differ
The market will not pity you and pay you more because your production costs are high.
That is your own business

The main issue is
Nigerian oil is classed as LIGHT and SWEET.. The highest grade

Dude you are not telling me anything new, but notwithstanding thanks.

In the United States, refined crude from Nigeria is what we call premium @ the petrol/gas station.

favor914:
Dude you are not telling me anything new, but notwithstanding thanks.

In the United States, refined crude from Nigeria is what we call premium @ the petrol/gas station.

I can see you have a weak ego and self esteem issues
The cost of production of Nigerian crude that you mentioned is irrelevant to the traded price
That was my point
No matter your cost you take the prevailing price
Premium is premium everywhere
It is not an American thing only.
It is the same in Europe
Premium petrol is a higher octane rating fuel that is blended with different additives and ethanol
It can be made from most crudes depending on the refining process but it is not the standard product made from refining Nigerian crude. It must be blended
So your facts are wrong
You need to learn humility and stop this unbridled egotism.
Thanks for announcing you are in America but how is that relevant?

but why cant nigeria use our own crude? why do we have to import? abi our wells don dry up nawa ooooo

internationalman:


Your ignorance dey stink

Most of you on this site are just ignorant..

Mr Man the United States of America is the highest oil producing country in the world.. Nigeria is not even in top 10

No one is arguing this with you but does it make sense to you that the refinery in a nation with highest crude deposit is importing crude for production . If you don't get the message in my comment why not ignore it instead of shameless defending nonsense

spiSeyi:

No one is arguing this with you but does it make sense to you that the refinery in a nation with highest crude deposit is importing crude for production . If you don't get the message in my comment why not ignore it instead of shameless defending nonsense

A
Highest crude deposit where
You clearly do not grasp the issues and are unwilling to learn
Spain has refining capacity of 1.6million barrels daily
Refining capacity tends to be dictated by consumption of refined products not deposits
80% of the worlds cocoa is from West Africa
How much chocolate is produced or consumer there?
The United States has the largest refining capacity it is a net e porter but also one of the largest importers

Benwallt:


Even if Na 1k. Are you jealous? It ain't none of your business. Save us the balderdash once again

. E pain am 😂😂😂😂😂😂🤧

Timmi:


Iwaeda, just wait, the joke will be on you and your Obizombies. Enemies of progress. Nigeria shall definitely be great again.

Enyin ti opolo yin ti yoro, bi ose ifoso.

Nahunger:


. E pain am 😂😂😂😂😂😂🤧

Sha save us the balderdash. If you can do that, it will be good

Benwallt:


Sha save us the balderdash. If you can do that, it will be good

😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
More agbado to your elbow

Nahunger:



😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
More agbado to your elbow

Talking from the anus as usual

Benwallt:


Talking from the anus as usual

Okay sorry labour party supporter 😂😂😂😂😂😂😂😂😂😂😂😂😂

Nahunger:


Okay sorry labour party supporter 😂😂😂😂😂😂😂😂😂😂😂😂😂

Not only labour party. Nonsense

Gajagojo:

Actually it does explain it it is about running the numbers.
All these monopolistic debate conspiracy is unfounded
Nothing will explain it to you because one does not rouse a person pretending to be asleep
Dangote designeda refinery that can refine ALL TYPES of crude
That was deliberate

So that was already there in design and planning that he wouldnotbe dependent on Nigerian crude
What many of you miss is imagining a scenario where he does not sell his products in Nigeria. AT ALL. You think the location is a mistake
What if he does not use Nigerian crude and not sell in Nigeria
Just like those selling to us today from Europe do
Many refineries can handle Only one type of crude

Those countries that we import petrol from today are not crude producers

You need to get your head around the concept that crude production and refining are SEPARATE BUSINESSES
Just like Gold Mining and Jewelry
Cocoa Production and chocolate

How much chocolate is made in West Africa

Business is not sentiments

It is numbers

Others are building refineries too so there is nothing strange about a scenario where Dangote buys crude abroad and exports everything one day in the future
It is all about imagination

Prove the bold.

Prove Zuckerberg isn't running a monopoly, too.

Cantonese:
Hm.

“ The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production”.

Cheaper oil imports from the United States? Abi I no see or read well?

You read that right.. you see after oil crisis in USA.. they quickly learn how insanely their economy depended on oil cos of cars n industrialization hence the need to be oil independent but they ain’t really an oil producing country.

Their strategy was to start building massive storage facilities, and then after building they started buying massively during cheap periods to store away and releasing into their country to avoid price surge n once in a while sell for profit.

Wash n repeat till now they have become independent and can go several several several years without even need import drop a drop hence reason why Dangote like many other oil companies is buying cheap from em as a supplier!!!

And US refineries (overall) were designed to process relatively heavy, sour crudes, which characterize the bulk of most non-US crudes, especially from Venezuela and the Persian Gulf (i.e., Saudi Arabia).

So - what do they do - to make the highest profit? Heavy crudes are imported, and blended with the lighter, sweeter current US crudes. These imported crudes (often Venezuelan or Persian Gulf) are less expensive, which is part of their charm for refineries. Then the displaced light, sweeter US crudes are exported, at higher prices, for (blending and) refining overseas.

It is a simple adjustment for the reality of the history of operating major, installed, industrial assets (i.e., refineries)

All these fuss about not wanting oil price to surge n how it’s gonna affect the world economy. Guess what it’s not gonna be so so severe for America I can say d same for Europe, just that China who is the biggest manufacturer of USA and d world will be affected and ask for more money for it product so technically oil prices affect everyone! I hope u understand what it mean now

Benwallt:


Not only labour party. Nonsense

Are you part of the articulates 😒

Nahunger:


Are you part of the articulates 😒

You mean artikulunatics? No

spiSeyi:

No one is arguing this with you but does it make sense to you that the refinery in a nation with highest crude deposit is importing crude for production . If you don't get the message in my comment why not ignore it instead of shameless defending nonsense

I support your stance hundred percent. I am just trying correct your notion. The United States Of America is the number one crude oil producing Country in the world.. They even produce more than Saudi Arabia or Kuwait... Just try and google ands read about the state of Texas which is their number one oil producing state

spiSeyi:
imagine a refinery in Nigeria where there is a large deposit of crude oil exporting from US who has no crude oil as natural resource

So many ignoramus and illiterates like you in Nigeria reason why the country is backward, who told you USA has no crude oil as natural resource ?

Imagine believing that one of the largest producers of crude oil globally have no crude oil and you passed through a school and even think you are smart ?

Benwallt:


You mean artikulunatics? No

Lol
Where you con dey, abi sowore you dey support 😒😒😒