[size=14pt]Voice of America (VOA) - Nigeria Teams Up with US Firm to Build Oil Refineries[/size]
Ricci Shryock

July 03, 2012
Nigerian officials announced a $4.5 billion deal that will see the country partner with U.S. company Vulcan Petroleum Resources to build six oil refineries in Nigeria, Africa’s biggest oil producer.

Vulcan said its goal is to build the first two facilities within one year and complete all six within the next 30 months. It said the various refineries will be located at different sites throughout the country.

Umaru Dembo, a former Nigerian energy minister, said the announcement was a welcome development for the country.

“It means quite a lot… because, up to now, we seem to be dependent on refined oil from somewhere else… the three or four refineries that we have now do not supply the needs of refined products that Nigeria needs at the moment,” Dembo said.

Though Nigeria produces more crude oil than any other nation on the continent, it relies heavily on oil that is refined abroad in order to fulfill domestic energy demands. Nigeria exports more than two million barrels of crude oil a day.

Dembo added that the current refineries in the country produce more than 400,000 barrels of oil a day, and the reported 180,000 barrels a day that the six new refineries would produce is a surprisingly low number. But, he added, it was better than the alternative.

“It is better to get the refineries and have them working then have no refineries at all…than [to have to] depend upon refineries outside Nigeria,” he said.

According to Dembo, the new refineries, which are slated to all be finished in about two and a half years, could have additional benefits for the local economy.

“Definitely, it will mean more jobs for Nigerians if this comes to fruition,” he said. “There’ll be very many things that will be available for the people… we hope there will actually be electricity.”

In January, mass protests were staged throughout the country when the government said it was going to remove the oil subsidy, which was the only benefit many Nigerians said they enjoyed from the nation’s oil wealth.

After a nationwide strike and continued protests, the government later announced a partial rollback of the price hikes.

President Goodluck Jonathan has said Nigeria can no longer afford the $8 billion fuel subsidy. He promised to use the money saved for needed infrastructure and social programs.

http://www.voanews.com/content/nigeria-looks-to-build-six-oil-refineries/1363082.html

I like how our people like to play lose and fast with facts, making it up as they go along.

Dembo added that the current refineries in the country produce more than 400,000 barrels of oil a day, and the reported 180,000 barrels a day that the six new refineries would produce is a surprisingly low number. But, he added, it was better than the alternative.

Which "current refineries in the country produce more than 400k barrels of oil a day"?

It is probably just day-dreaming any way - another wayo announcement just to say that they are working in Abuja.

In one year's time they will come around talking about all kinds of excuses!

Beaf and his Government's lies. how is this possible? another GEJ promise

pDude: Beaf and his Government's lies. how is this possible? another GEJ promise

You winshes always sound like you hate Nigeria and are in constant prayer for bad news, death and decay. Its a sad place for your head to be, and the trait of a serial loser, bro. What is wrong with welcoming good news or making an intelligent contribution?

There comes a time when you start sounding really foolish and disconnected from reality with your prepared responses... Such as now.
As for your "government news" quip, thankfully, anyone with a measurable IQ would note that this news is coming from the Voice of America.
Anyway, if you don't like govt to speak to you, I wonder if you prefer to hear news from boko haram instead.

I realised that those who proudly sprout stup!dity on NL would find threads like this one to be a garden. For your information, "Voice of America (VOA) is the official external broadcast institution of the United States federal government."

http://en.wikipedia.org/wiki/Voice_of_America

Seen?

Even with winshes, losers and subversives oozing out of all sorts cracks and crevices like an epidemic of negativity, the country is moving forward with resolute steps, with the real Nigerians in charge.
The new refineries to be built by the Americans is really a piece of good news... The promise of delivery within two and a half years just does bloody sweet things to the ears!

Go GEJ!
Fresh Air!

Story

MUNTULA! !;>;> ;DMUNTULA! !;>;>

Beaf: [size=14pt]Voice of America (VOA) - Nigeria Teams Up with US Firm to Build Oil Refineries[/size]
Ricci Shryock

July 03, 2012
Nigerian officials announced a $4.5 billion deal that will see the country partner with U.S. company Vulcan Petroleum Resources to build six oil refineries in Nigeria, Africa’s biggest oil producer.

Vulcan said its goal is to build the first two facilities within one year and complete all six within the next 30 months. It said the various refineries will be located at different sites throughout the country.

Umaru Dembo, a former Nigerian energy minister, said the announcement was a welcome development for the country.

“It means quite a lot… because, up to now, we seem to be dependent on refined oil from somewhere else… the three or four refineries that we have now do not supply the needs of refined products that Nigeria needs at the moment,” Dembo said.

Though Nigeria produces more crude oil than any other nation on the continent, it relies heavily on oil that is refined abroad in order to fulfill domestic energy demands. Nigeria exports more than two million barrels of crude oil a day.

Dembo added that the current refineries in the country produce more than 400,000 barrels of oil a day, and the reported 180,000 barrels a day that the six new refineries would produce is a surprisingly low number. But, he added, it was better than the alternative.

“It is better to get the refineries and have them working then have no refineries at all…than [to have to] depend upon refineries outside Nigeria,” he said.

According to Dembo, the new refineries, which are slated to all be finished in about two and a half years, could have additional benefits for the local economy.

“Definitely, it will mean more jobs for Nigerians if this comes to fruition,” he said. “There’ll be very many things that will be available for the people… we hope there will actually be electricity.”

In January, mass protests were staged throughout the country when the government said it was going to remove the oil subsidy, which was the only benefit many Nigerians said they enjoyed from the nation’s oil wealth.

After a nationwide strike and continued protests, the government later announced a partial rollback of the price hikes.

President Goodluck Jonathan has said Nigeria can no longer afford the $8 billion fuel subsidy. He promised to use the money saved for needed infrastructure and social programs.

http://www.voanews.com/content/nigeria-looks-to-build-six-oil-refineries/1363082.html

Bros, Abeg no mind these haters. I'm even surprised that they managed to come and drop their hatred on this thread. Usually when they see a topic that suggests progress or a semblance of it , they just pretend as if they did not see it and look for bad news where they will do their hatchet job for their paymasters.

You're most unlikely to see KOBOJUNKIE, GBAWE or their class clown, KIYOSAKI on this thread. They only come in when they notice that many people have come to acknowledge the obvious efforts of govt. They will then invade the thread with a mandate to distort facts, fabricate lies, confuse issues with the worn out 40 man laptop theory, distract viewers from the real subject matter, demonise GEJ and clothe him in the unfitting garb of a dictator.

Their stock in trade is to paint gloom of our nation and elevate BOKO HARAM activities to a fundamental objective and directive principle of state policy. For them, it's a profession and they're paid heavily for it. They don't work on Sundays and that accounts for the sanity and quality debates that prevail on Nairaland on Sundays.

In all of these, I take solace in the fact that the "THE TRIUMPH OF EVIL OVER GOOD IS JUST BUT TEMPORAL". Nigeria will continue to make progress with projects like this, while KOBOJUNKIE will be fabricating lies, GBAWE will be spreading it and KIYOSAKI will be entertaining us with his bad Zebrudaya like English.

Good. I like, no I pray, to lose this kind this kind of bets for the sake of our nation. But your master never disappoints in failing to fulfill promises.

So let's be patient.

Another year is about to fly by!

dedeike:
Bros, Abeg no mind these haters. I'm even surprised that they managed to come and drop their hatred on this thread. Usually when they see a topic that suggests progress or a semblance of it , they just pretend as if they did not see it and look for bad news where they will do their hatchet job for their paymasters.

You're most unlikely to see KOBOJUNKIE, GBAWE or their class clown, KIYOSAKI on this thread. They only come in when they notice that many people have come to acknowledge the obvious efforts of govt. They will then invade the thread with a mandate to distort facts, fabricate lies, confuse issues with the worn out 40 man laptop theory, distract viewers from the real subject matter, demonise GEJ and clothe him in the unfitting garb of a dictator.

Their stock in trade is to paint gloom of our nation and elevate BOKO HARAM activities to a fundamental objective and directive principle of state policy. For them, it's a profession and they're paid heavily for it. They don't work on Sundays and that accounts for the sanity and quality debates that prevail on Nairaland on Sundays.

In all of these, I take solace in the fact that the "THE TRIUMPH OF EVIL OVER GOOD IS JUST BUT TEMPORAL". Nigeria will continue to make progress with projects like this, while KOBOJUNKIE will be fabricating lies, GBAWE will be spreading it and KIYOSAKI will be entertaining us with his bad Zebrudaya like English.

Abeg, let me know when they are about to be commissioned.

I have read better promises from GEJ that are yet to materialize, for now I will regard this as another paper promise till they are built.

Me sef, I'm tired of all these promising... hope they'll deliver like they promised.

OAM4J: Abeg, let me know when they are about to be commissioned.

I have read better promises from GEJ that are yet to materialize, for now I will regard this as another paper promise till they are built.

True!


Let's hope these folks mean it this time

I have spent several hours searching for Vulcan Petroleum Resources official website just to know more about the company. Somebody should please let us know this MEGA/BIG company's website.

^^^ it seems credible - it is part of vulcan capital investment which is part owned by the "second" founder of Microsoft. (bill gates partner)


So they have the resources, the access to money and i believe access to sound technical expertise to build and manage the refinery.

6 refineries in 2 and half years . . .seriously doubt the feasibility of that time line starting from now . . .maybe when they complete the necessary rudimentary procedures required to set up a refinery like the EIA studies . . . . then their two and half years might start to count . . .

@dedeike
Thanks. You fully understand their disgraceful modus! Lol! Really funny set of people.

@topic
The brilliant thing about the modular construction of the refineries is that they can take as little as a year to erect in Nigeria which is brilliant. Lets stay with the two and a half the firm has promised though.

abes: I have spent several hours searching for Vulcan Petroleum Resources official website just to know more about the company. Somebody should please let us know this MEGA/BIG company's website.

Like macjive01 said, they're part of Vulcan Capital Management http://www.vulcancapital.com/sel_portfirms.html

My guess is they probably building modular turnkey operations that takes less time to build. They have the financial power and expertise in this field. My only concern is that I hope this isn't all about talk, action is required.

Beaf: @dedeike
Thanks. You fully understand their disgraceful modus! Lol! Really funny set of people.

@topic
The brilliant thing about the modular construction of the refineries is that they can take as little as a year to erect in Nigeria which is brilliant. Lets stay with the two and a half the firm has promised though.

I have heard about the modular refineries and how quickly they can be erected, which means two and a half years is feasible, in theory.

But like OAM, I won't hold my breath.

abes: I have spent several hours searching for Vulcan Petroleum Resources official website just to know more about the company. Somebody should please let us know this MEGA/BIG company's website.

I have searched too and I can't seem to find any FEIN for the company "Vulcan Petroleum Resources". Neither have I been able to find much of Mr Jim Mansfield, apart from what is in the media on this Nigerian deal.

I don't understand how "Vulcan Petroleum Resources" became "Vulcan Capital Management". I mean there is also "Vulcan Oil Co", based in Bessemer Alabama, and then " Vulcan Petroleum, Metals And Equipment, Inc". None of those lists any info on a Jim Mansfield as VP.

Kobojunkie:

I have searched too and I can't seem to find any FEIN for the company "Vulcan Petroleum Resources". Neither have I been able to find much of Mr Jim Mansfield, apart from what is in the media on this Nigerian deal.

I don't understand how "Vulcan Petroleum Resources" became "Vulcan Capital Management". I mean there is also "Vulcan Oil Co", based in Bessemer Alabama, and then " Vulcan Petroleum, Metals And Equipment, Inc". None of those lists any info on a Jim Mansfield as VP.

Who's fault is it that you did not go to school?

When a capital management firm owns several portfolios, isn't it obvious that the their portfolios are located in different places?

Again, I'm 100% certain that if you look at their portfolios, they certainly own all these you have listed.

Again . . .

abes: I have spent several hours searching for Vulcan Petroleum Resources official website just to know more about the company. Somebody should please let us know this MEGA/BIG company's website.

I have searched too and I can't seem to find any FEIN for the company "Vulcan Petroleum Resources". Neither have I been able to find much of Mr Jim Mansfield, apart from what is in the media on this Nigerian deal.

I don't understand how "Vulcan Petroleum Resources" became "Vulcan Capital Management" OR ANY OF it's subs. I mean there is also "Vulcan Oil Co", based in Bessemer Alabama, and then " Vulcan Petroleum, Metals And Equipment, Inc". None of those lists any info on a Jim Mansfield as VP.

I don't know if I am to assume that Vulcan Water Resources LTD is another name for Vulcan Petroleum Resources.

Again,

manny4life:


Who's fault is it that you did not go to school?

When a capital management firm owns several portfolios, isn't it obvious that the their portfolios are located in different places?

Again, I'm 100% certain that if you look at their portfolios, they certainly own all these you have listed.

BTW, how can you find the FEIN,

Obviously your hands are tied to do a simple Google FEIN search in the directory.

You want FEIN lookup, pay the dough for the websites and you will see it.

um . . . FEIN of companies registered in America is not CLASSIFIED information You have [b]free [/b]access to them online, or by phone (call the IRS directly).

abes: I have spent several hours searching for Vulcan Petroleum Resources official website just to know more about the company. Somebody should please let us know this MEGA/BIG company's website.

Update: I am not too sure of the MEGA/BIG Company status either. I just called the Number on the[b] Vulcan Capital Management[/b] website( http://www.vulcancapital.com/sel_portfirms.html ) and the message on the answering system was most definitely not that of an MEGA/BIG Company. It sounded like a small business run by two people, since the voice on the phone said to leave a message for either of them on the system.

ummmm.......... who said it was classified?

When you do a reverse lookup for people on white pages, don't you pay to access the information?

I said do a simple search or perhaps type in "FEIN LOOKUP" in Google, they're are so many sites, you just have to pay a fee but the result will come out.

HNosegbe:

I have heard about the modular refineries and how quickly they can be erected, which means two and a half years is feasible, in theory.

But like OAM, I won't hold my breath.

Lol! I can understand why anyone would be skeptical. Nigerians have suffered a lot, decade after decade since 1960 (maybe even 1904).
I do believe that this time is different though. A lot of rebirth is going on in the petroleum sector (most of it not visible, except you look deeper), that is what gives me hope.

Kobojunkie:

Update: I am not too sure of the MEGA/BIG Company status either. I just called the Number on the Vulcan Capital Ventures website and the message on the answering system was most definitely not that of an MEGA/BIG Company. It sounded like a small business run by two people, since the voice on the phone said to leave a message for either of them on the system.

You see, KOBO, you're sounding like a broken record now. DON'T mistake Vulcan Capital ventures (Paul Allen) with Vulcan Capital Management. They're two different companies.

Lol @ kobojunkie doing research on Jim Mansfields innermost details! You wanna do the guy 419?

Kobojunkie: um . . . FEIN of companies registered in America is not CLASSIFIED information You have [b]free [/b]access to them online, or by phone (call the IRS directly).

Well, in that case, please have your free access to them online OR call IRS and then tell me what the FEIN number is for

1. Wal-Mart
2. Target
3. CVS Pharmacy/CVS Caremark...

After all these companies are Fortune 500 companies with at least $50 billion on assets. So please submit your free lookup website, I really want to know...

As I said . .. .

abes: I have spent several hours searching for Vulcan Petroleum Resources official website just to know more about the company. Somebody should please let us know this MEGA/BIG company's website.

Update: I am not too sure of the MEGA/BIG Company status either. I just called the Number on the[b] Vulcan Capital Management[/b] website( http://www.vulcancapital.com/sel_portfirms.html ) and the message on the answering system was most definitely not that of an MEGA/BIG Company.

It sounded like a small business run by a few people, since the voice on the phone said to leave a message for a Mark Amwell.

Disclaimer: Not that small companies cannot handle multi-billion dollar deals.

The More you look the less you see. I would hold my comment before i am labelled as anti GEJ or blood sucking boko haram worshipper

The same FG said them no dey the business of building refinery - which one now.

Kobojunkie: As I said . .. .



Update: I am not too sure of the MEGA/BIG Company status either. I just called the Number on the[b] Vulcan Capital Management[/b] website( http://www.vulcancapital.com/sel_portfirms.html ) and the message on the answering system was most definitely not that of an MEGA/BIG Company. It sounded like a small business run by two people, since the voice on the phone said to leave a message for either of them on the system.

You're sounding more ridiculous by the minute, you're right it's a business for 2 people with only a chair and desk.

manny4life:


Well, in that case, please have your free access to them online OR call IRS and then tell me what the FEIN number is for

1. Wal-Mart
2. Target
3. CVS Pharmacy/CVS Caremark...

After all these companies are Fortune 500 companies with at least $50 billion on assets. So please submit your free lookup website, I really want to know...

You have time to answer kobojunkie? Lol!
VOA where the news is sourced is America's official state news agency. It packs as much authority as the FBI or CIA.
Allow kobojunkie to run mad, phoning up and researching. He will soon be phoning the White House to ask if Obama is real! Hilarious shiit!