This forum want turn to english class o, watin mata na to get the job o no bi to correct another person english o, u fit know english pass some people here but u fit be olodo for calculation o, dem no sabi english but them pass aptitude test o, na after every body here don ge defend his or her CV come back and get offer letter nai we go know who realy sabi english o, make una no form english lecturer too much o cos with the english wen una dey claim so, una don fail interview before. Leave people make dem write watin dem sabi o, na so dem too take pass the apptitude test o. How may white men in nigeria oil and gas company who dey earn their salary in doller sabi speak english? U sabi speak eglish well well and u still dey fine work o

Eruditor:


5. There were 3 solutions to the aforementioned problems. a) PSC b) Concessionaire Arrangement c) joint entity. B and C are beyond what is being discussed, so I would talk about only A.

6. PSC is a variant of the JV and it was introduced from 1991 FOR ALL NEW ACREAGES. The major disparity between it and a JV is that in the latter, FG takes 60% of the risk and expenses but in a PSC FG only comes in after the exploration exercise.

7. This implies that all the risks and expenses are shouldered by the MNC until commercial quantities of crude are discovered then FG signs a PSC with the MNC. Now you can see why that talk of 60:40 in ALL E and P activities is vacuous and false. No sensible company will give FG 60% in a PSC for example knowing that FG shouldered a lesser risk. On the flipside, no responsible FG will demand 60% in such an agreement as it would scare off investors.

8. Crude from a PSC are divided into 3 ways: i) cost oil ii) tax oil iii) profit oil.

i) is the cost the company incurred while prospecting and producing. FG lets them make their investment back.
ii) is the fraction from which the MNCs pay their taxes and royalties.
iii) is now the profit aspect of the crude and this is where FG can get a chunk, say 60% of the value.

Cummulatively, one can see that the OVERALL FGs stake cannot be 60%. Also, take note that not all MNCs or indigenous companies use a JV with NNPC. So it is very fallacious for anyone to claim that FG gets 60% of all crude produced.

Proving nothing upon nothing. Fed govt is to contribute a certain % and also share profit according to the % which the contribut, den of wat benefit is it to federal govt dat own the crude oil? A case study I will give u to read about is the otakikpo maginal oil field, find out if federal govt is contributing to that project and the % which lekoil who financing the project has in dat Field. U don't need to speak grammer to proof point

Eruditor:


Find out what it means and see if it applies to your "NNPC-owns-60%-of-whatever-any-E-and-P-company- produces-in-Nigeria" theory. It is not even feasible.

Is only a fool dat drag words with Eruditor, just to tell u, my company is a servicing company to Agip and I spend 14 days at Agip production facility and 14 days in my house. I don't need to know what is JV and PSC before I can tell u dat NNPC own 60% watever any E&P produce. Any way u are just a young graduate who has no field experience so wat is the point of draging words with u

Please has any one who did interview with energi talent resourcing for any of the position they are recruiting for lekoil hard from them? They keep telling me dat lekoil is reviewing our application, pls any bode who have an update should let us know. Thank u

Eruditor:


You are hyperventilating. What is a JV? How does it differ from a PSC?

Lol, chairman I loyal, no vex, why I go know watin be JV, I no go school oooo, na u go school, abeg teacher eruditor teach us some tin

Eruditor:


I have found out, that is why I can make bold to say your assertion was patently false. For example, a PSC is a variant of a JV and it allows for less Government stake in the agreement than what obtained during the JV days. FGs stake in some of those agreements are now between 51-40% as against 60% some 20 years ago. I know some JVs still exist but most of the agreements in the E and P sector are now PSCs. This therefore invalidates your claim that "FG owns 60% of whatever any E and P company produces in Nigeria".

I can explain more but I am a bit engaged. Can you ask yourself why FG seem to be phasing out the JVs for PSCs these days? What is the significant difference between these 2 agreements?

Educate urself with dis information I copy from nnpc websit "As with many other developing countries, the multinationals in Nigeria had been operating under what is called a concession system, with NNPC being the concessionaire, while the companies are the operators". I don't even know dat is eruditor am trying to educate, why wasting my time. Sorry Mr eruditor the nnpc dictionary

Eruditor:


I have found out, that is why I can make bold to say your assertion was patently false. For example, a PSC is a variant of a JV and it allows for less Government stake in the agreement than what obtained during the JV days. FGs stake in some of those agreements are now between 51-40% as against 60% some 20 years ago. I know some JVs still exist but most of the agreements in the E and P sector are now PSCs. This therefore invalidates your claim that "FG owns 60% of whatever any E and P company produces in Nigeria".

I can explain more but I am a bit engaged. Can you ask yourself why FG seem to be phasing out the JVs for PSCs these days? What is the significant difference between these 2 agreements?

I don't need to drag words with u cos if u know wat u are saying, u will not be missing up words and u would have kown dat NLNG is not E&P. Is not only in nigeria it happen, u cannot enter any country and exploit their oil without the govt of dat country having the larger share of wat u produce, it is an agreement. Dat u must sign before u start producing not a JV, ask those who work in the rig. Wat DPR and NNPC staff come there to do

Eruditor:


The emboldened is patently false.

Federal govt (NNPC) own 60% of wat ever any E and P company produce in this contry under the production sharing contract(PSC) agreement. Go and find out before u start saying patently false

GeneralSnipper:


Again from the nnpc web page it is clearly stated that Hyson is a JV between NNPC and Vitol S.A a Swiss International crude oil and products trading company. So you are right based on that info. However I still want to emphasise that we share our knowledge with kindness. Guys, brace yourself for what lies ahead. Your degree is not a prison yard, education sets you free......................

Thanks for the comtribution bro, we keep learning

Badema:


Sorry but HYSON has its head office in Abuja @ Ceddi plaza, its a JV between NNPC nd Vitol (Mansel n Algasco), NNPC's interest is represented abroad as Calson Bermuda operating mainly in Europe, NNPC Secondee staff holds d positions of MD and EDS while Vitol Holds d position of an EDO, so with utmost conviction its a JVC

And again pls try n verify ur facts, cos not in all corporations NNPC owns above 60%, e.g NLNG, NigerMED etc

Again bros I say nnpc own 60% in the E and P company, is NLNG E&P? try to unsterstand someone post before u comment

Badema:


Sorry but HYSON has its head office in Abuja @ Ceddi plaza, its a JV between NNPC nd Vitol (Mansel n Algasco), NNPC's interest is represented abroad as Calson Bermuda operating mainly in Europe, NNPC Secondee staff holds d positions of MD and EDS while Vitol Holds d position of an EDO, so with utmost conviction its a JVC

And again pls try n verify ur facts, cos not in all corporations NNPC owns above 60%, e.g NLNG, NigerMED etc

Bros no quote me wrong, I said Duke oil have there office in pagama. I did not say hyson

Just to it clear, DPR take record of the amount of crude oil that is produce each day in nigeria, and the federal govt (nnpc) has 60% of dat amount dat is produce each day, nnpc cannot give the right to sell this crude to a non govt organization. Rather, a govt organization (HYSON) which is a subsidiary of nnpc sell off this crude for federal govt. Don't let any body u call deceive u

masonkz:


Smh. I guess I shouldn't say more on this..or maybe I should give you a number to call and confirm

Bro, while you depend on the Internet for your info..some of us have actually consulted for such companies in one capacity or the other.

Anyway, a JV can still be a subsidiary, especially for reporting purpose, and depending on the percentage of holding.

Goodluck with what you know though.

I did not base my information on the internet, am current with the oil and gas sector and I have good numbers of friends in nnpc too, I have some knowledge of wat is going on with the oil and gas. Thanks bro

masonkz:


Oga. Hyson is a JV.

Bros do u know more nnpc website, or are u trying to say dat nnpc don't know the information they put on their website. Pls don't deceive people, its NAPIMS dat supervise all the JV and PSC dat nnpc has with any company. NAPIMS gets the crude oil from the E and P and supply them to PPMC, PPMC inturn supply the crude oil to the refinaries. The excess crude which are not refin are trade off by HYSON cos our crude production in nigeria is far more dan wat we can refin. What make HYSON a JV? If nnpc websit is not clear to u, as question. Hyson is a subsidiary bros

Badema:


Yea any JV mentioned as a subsidiary means, NNPC owns slightly below or more than 50% of the shareholdings. Hence companies like HYSON, NLNG, NIDAS mentioned as subsidiaries

Hyson and duke are not JV, they are pure subsidiary of nnpc, Hyson represent nnpc in trading off excess grude oil and petroleum products in nigeria while duke represent nnpc in the internation market, that is why their office is in pagama. Both are subsidiary just like WRPC and others. For ur information, nnpc own 60% shares in any E & P company in nigeria be it multinational or indigenous

I called PC dis morning and I ask dem if we will hear from dem before month end, the consultant who answer me said the logistics are not yet in place and notin will happen for now, I think notine will happen now till after election so let's wait till election is over but dat now depend on who win the presindential election