This is a great development and i'm happy that it's in Anambra state. Other Anambrarians will follow suit by investing in that great state.

Those who demand 4 pics hope u cn c it up there?
Big Kudos 2 Peter Obi. If all NigerDelta or SouthEast state governors cn follow up, very gud.
Even if they make it their invesment, atleast, we hv it nd it's workin. Reductn in cost of fuel, availability & suply wil be easier.
Gov. Peter Obi, Let go there jare.

Ekowise: Those who demand 4 pics hope u cn c it up there?
Big Kudos 2 Peter Obi. If all NigerDelta or SouthEast state governors cn follow up, very gud.
Even if they make it their invesment, atleast, we hv it nd it's workin. Reductn in cost of fuel, availability & suply wil be easier.
Gov. Peter Obi, Let go there jare.

which one ??

This is great news. Kudos to the Government and people of Anambra state for seeing the project to this stage.
Counting down to commissioning.

Why did Anambra state spend N4billion on Orient Refinery which is not owned by the state of Anambra?

The Federal Government of Nigeria (FGN) had granted Orient Petroleum Resources Plc (OPR), the holding company of OPR-Refining & Petrochemicals Plc, the Licence to Establish and the Approval to Construct its 55,000 bpsd refinery in 2002 and 2004.

The chairman of this company is Chief Emeka Anyaoku. You people need to ask your Governor and his cohorts what they spent N4billion for, if not to line their own pockets. SMH

Nice one. Opposition parties keep showing PDP how to govern.

ndu_chucks: Why did Anambra state spend N4billion on Orient Refinery which is not owned by the state of Anambra?

The Federal Government of Nigeria (FGN) had granted Orient Petroleum Resources Plc (OPR), the holding company of OPR-Refining & Petrochemicals Plc, the Licence to Establish and the Approval to Construct its 55,000 bpsd refinery in 2002 and 2004.

The chairman of this company is Chief Emeka Anyaoku. You people need to ask your Governor and his cohorts what they spent N4billion for, if not to line their own pockets. SMH

Did you read this part ndu_chucks?

Anambra State Governor, Mr. Peter Obi, yesterday said his administration has spent N4billion on the state-owned Orient Refinery.

A food for thought for GEJ and his petroleum minister.

OAM4J:

Did you read this part ndu_chucks?

Sooner or later, they will blame the reporter for the falsity of the information. The refinery is not state owned.

Please see conflicting information here:

The company, according to Anyaoku, had equally finalized the detailed engineering and sourced the modules of its 55,000 bpd refinery. It had also completed the geo-technical, geological and hydro-geological surveys and civil engineering works for installation of refinery equipment.

From Vanguard Feb 12 2012

From the company's public documents:

Orient Petroleum Resources Plc (OPR), the holding company of OPR-Refining & Petrochemicals Plc, has an integrated business model that spans the upstream and downstream of the petroleum industry. After the Federal Government of Nigeria (FGN) had granted to the company the Licence to Establish and the Approval to Construct its 55,000 bpsd refinery in 2002 and 2004, respectively, the company had gone ahead to obtain from the FGN in 2005 the Environmental Impact Assessment (EIA) Certificate for its refinery, the first refinery in Nigeria to obtain such an EIA Certificate. OPR has since completed the detailed engineering, sourced the modules of its refinery and completed the following project components....

From 2011 Annual General Meeting - Chairman's Address

This was not a joint venture, Anambra state spent money on roads e.t.c but does not own the refinery. Where is the proof that Anambra owns this refinery? The author of the article being quoted is misinformed. The real question is, what did Anambra state spend the N4billion on?

The refinery is not wholly own by Anambra state. There are other interests of which Anambra state, some indivdual investors and 21 council areas of Anambra state are stakeholders. Anambra state has made the project private sector driven for economic sustainability of the refinery. It is of note that for any investment to survive government must allow private investor to run and manage it.

chino11: The refinery is not wholly own by Anambra state. There are other interests of which Anambra state, some indivdual investors and 21 council areas of Anambra state are stakeholders. Anambra state has made the project private sector driven for economic sustainability of the refinery. It is of note that for any investment to survive government must allow private investor to run and manage it.

hehehe, the story has now changed to "Refinery is not wholly owned by Anambra state". Please provide us with evidence that Anambra state owns any part of this private refinery. I submit that you will find no such evidence. This is a completely privately owned refinery licenced to Orient Petroleum. Her's additional information for you here

The benefit of the refinery to Anambra cannot be overstated, but there is no need for you people to claim that the refinery is state owned. You people cannot be daft enough not to know how to search for publicly available information, can you?

I don't have the economic time to argue with you tonight, because you have a funny way of twisting already established facts wrongly. The fact is that, it is not healthy and sustainable for state to own and run an investment effectively. So its pertinent that Anambra does not own it 100% for the investment to grow and develop. The 4B Anambra invested in the project is the share of Anambrans in the project. The cost of the project itself runs into millions of dallars, I think the actually cost of the project maybe around 15-20B.

blacksta: to do , will do , promise to do , i am about to do , we are going to do

Oya Foolish Nigerians come here quick and swallow another Retarded Promise

HOOK, LINE AND SINKER

What is wrong with some people? This is the kind of person you dare not leave your child with.

chino11: I don't have the economic time to argue with you tonight, because you have a funny way of twisting already established facts wrongly. The fact is that, it is not healthy and sustainable for state to own and run an investment effectively. So its pertinent that Anambra does not own it 100% for the investment to grow and develop. The 4B Anambra invested in the project is the share of Anambrans in the project. The cost of the project itself runs into millions of dallars, I think the actually cost of the project maybe around 15-20B.

Go and spread your lies elsewhere, if you cannot show us a single evidence that Anambra owns any piece of the refinery. This refinery was financed by the Chinese who are part owners. The state of Anambra owns 0% of the refinery. Prove me wrong if you can.

ndu_chucks:

Go and spread your lies elsewhere, if you cannot show us a single evidence that Anambra owns any piece of the refinery. This refinery was financed by the Chinese who are part owners. The state of Anambra owns 0% of the refinery. Prove me wrong if you can.

The chinese firm were paid contractors,Nduchucks! Chino is correct,the project is partly owned by the state,plocal council and private investors who are Anambrarians.

Orient Petroleum is privately owned - why should the state spend 4 billion?

Secondly, I am sceptical that this refinery will be ready for commissioning in 2 months - Orient's AGM anticipated end of 2012, and considering we are still in Nigeria, projects tend to overrun rather than get completed ahead of time. Furthermore, if the refinery is indeed going to be commissioned, it should already be starting up right now as we speak.

Thirdly, why is 500 million being spent on building a road to the refinery? How did all the construction material get transported to the refinery in the first place? How long is the road? So many questions, few answers.

This is Nigeria's first full cycle effort in the oil industry. It is a pride and a great leap forward indeed!
Respect.

NRI PRIEST: people dont know the speed with which this man,Peter Obi is developing Anambra holisticaly!! The man is a quiet genius. haters can keep hating while we take the touch to the MOON!!

job don land my guy

NRI PRIEST: people dont know the speed with which this man,Peter Obi is developing Anambra holisticaly!! The man is a quiet genius. haters can keep hating while we take the touch to the MOON!!

job don land my guy

Beaf: This is Nigeria's first full cycle effort in the oil industry. It is a pride and a great leap forward indeed!
Respect.

Beaf, for once I agree with you here.

@NRI_PRIEST, I'm still waiting for your evidence that Anambra state owns any part of the refinery which is licensed to a private company.

@Debosky, your questions are very pertinent and beg for answers.

Beaf: This is Nigeria's first full cycle effort in the oil industry. It is a pride and a great leap forward indeed!
Respect.

If it pans out, it will indeed be a great leap forward. However, I have my fears for now.

The AGM speech given by OPR in 2011 indicates they intended to begin oil production to generate cash in order to COMPLETE the refinery project. As of March, oil production had still not started. If OPR haven't started producing oil, where did OPR get the funds to complete the refinery? Where did they get crude feedstock for refinery?

What I suspect is the oil production facilities from OPL 915 and 916 are those to be commissioned, not the refinery. The governor was probably speaking generally about OPR's facilities and not the refinery in particular.

If the government is 'investing' 4 billion, it should be clear why and for what purposes, and if there will be any payback to the state.

@NRI_PRIEST and others are advised to educate themselves further by going over this presentation. This should convince you that the Governor of Anambra owes you an explanation on what he spent the said N4billion on.

Read This For Further Enlightenment, Ignorance is Bad

Ask yourself why Anambra State was not mentioned as part owners.

This is lovely to hear! I congratulate the governor and the people of Anambara on this development.

^^

These Orient guys have a good imagination though - can you imagine they think a 55,000 bpd refinery will provide the same proportion of products as the four existing refineries of 450,000 bpd capacity?

Na wa for investor presentation.

^


Why not leave this thread and go to any thread that is discussing your backward state of origin. What is your business on how much is spent or not spent, are you EFCC, again what is your headache about the capacity of refinery, are you DPR/NNPC? I strongly believe you should be in chains, because frustration and envy is written all over your senseless comment.

debosky: ^^

These Orient guys have a good imagination though - can you imagine they think a 55,000 bpd refinery will provide the same proportion of products as the four existing refineries of 450,000 bpd capacity?

Na wa for investor presentation.

I think 55,000 is not bad to start after all PH refinery is 100,000bpd. I guess this capacity can be increased if they wish after the investors must have recouped initial investments and seek expansion.

This is what I love to see. This is indeed a nice way of creating jobs for the citizens of Anambra. At least now others can build their refinery.

i took time to go through the pdf document presentation linked by ndu_chucks and i did not see any proof that anambra state is not an investor in the project.
i wonder why ndu_chucks is screaming up and down
jealousy dey too much i guess

Gullible "Nigerians" when shall thou awake from thy slumber? 500 million for a road of where to where? smh