₦airaland Forum

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