₦airaland Forum

Bola Tinubu was not voted as Chairman of ECOWAS. It was the turn of Nigeria to produce the Chairman of that regional Govt organization.

Even if a Donkey was elected President of Nigeria, that donkey would have emerged as Chairman of ECOWAS. Enough of the gloating!

So, in a football match between Man. City vs Brentford, if I play Man City to win, I should also play Brentford to lose?

No, it'll be Tinubu before Obi.

And u wonder why Nigeria is a mess of a country?

I think say na Igbos be their problem.

A full-blooded Igbo man cannot say "Ndị Igbos". Afonja, oya, run along.

EPIJOE:
CAN A YORUBA MAN TRY TO BECOME A GOVERNOR IN ANAMBRA? WILL U PEOPLE ACCEPT? THE MAN JUST SAID THE TRUTH.

You can possibly be in Ogbomosho and become a Governor in Anambra. U have to go live in Anambra first.

U're celebrating "beautiful pictures". Chai, Nigerians are indeed irredeemable.

LegalWolf:
Is there any politician that hasn't been pelted with stones? Welcome to Politics my dear

Would u have said this same thing if it had happened in SE?

Natbrowny:
If its straight. Drivers will get bored and may sleep on wheels.

Its made curved for concentration and balance while driving esp for long routes

So people who travel from Lagos to Benin often sleep on the road?

There's no such thing as "high Chief" in the East.

Chief is Chief.

[quote author=eRank post=118025760]Why have we not started protesting against this evil government? Why can't we voice-out our anger inform of street protest instead of ranting and cursing our leaders online? I swear we are bunch of cowards. Few days ago, students of the same parent were kidnapped, with ransom of 20 million naira. While many others have been killed. Fck. Are we all that stupiiidd? [/quote

So u can call them IPOB?

Made2Last:
As a typical Ndi igbo man, I believe Tinubu will make the best president Nigeria never had.

Tribalism aside!

"Ndị Igbo man"

This shows u're not Igbo at all.

Felabrity:
The day Buhari go catch this Ekpa

Catch him for doing what exactly?

thinkmoney:
Do you know that the Queen of England was to Anglican what the Pope is to Catholic?
Anglican has a church is in fact in mourning.

Congrats! Ur H-factor made it to Naira land. ���

McOluomo readily comes to mind.

AGO/TANK FARM DELIVERY

LAYCAN: March 10-15th, 2019

Contact: Eastern Union Energy, 08030654233 for further details.

Large quantity of Palm Fatty Acid Distillate (PFAD) needed urgently.

Kindly contact Uche on 08030654233 or easternu9ion@gmail.com if have any lead.

BENEFITS OF PURCHASING DIESEL FROM US

By using our service, you will receive the following benefits:

• A payment plan that suits your needs
• Huge savings
• A controllable quantity
• 24/7 service within Port-Harcourt
• Delivery to every part of Nigeria


08030654233
www.easternunionenergy.com

#1. Call us (we will handle the other 9)

www.easternunionenergy.com

As the year draws to a close (yes, we're nearly there), we want to take a moment to thank you for allowing us to be an important part of your daily life. It’s our privilege to serve you - a responsibility we take very seriously.

We all know that the beginning of the year is all about making resolutions and goals for the coming year but the end of the year also marks a time where we can evaluate how the year has gone and what we have achieved.

A little less than seven months ago, we embarked on a bold, new direction with a goal to better meeting the needs of our Clients. Since that time, a lot has changed in the way we bring you our energy solutions, but the one thing that hasn’t changed is our commitment to delivering quality service.

And quality service is still the No.1 priority for Eastern Union Energy. It remains our most essential work.

But the end of the year is also about looking forward.

We know you have high expectations of us. We do, too. And we understand there is still a lot of work that needs to be done. We will continue to listen to your concerns and will work hard to address them in the coming year.

Again, it is our privilege to serve you. Nothing is as sacred as the trust you put in us each and every day. We don’t take that responsibility lightly, and we will continue to work hard to give you our very best.

Merry Xmas and Happy New Year!

From all of us at Eastern Union Energy.

http://easternunionenergy.com/seasons-greetings

There are two types of Licenses issued to oil producers in Nigeria namely: the Oil Prospecting License (OPL) and the Oil Mining License (OML) with validity periods ranging from 5 to 20 years respectively.

All the Petroleum (Crude Oil) in Nigeria is vested in the Federal Government, whose sole responsibility it is to control the resources and only permit their exploitation under license, in accordance with the Petroleum Act 1969.

The State allocates acreages (Licenses) to operators in any such areas deemed to have potential for petroleum accumulation at the discretion of the Minister of Petroleum Resources. The allocations will be based on a set of criteria that would be made known to deserving companies at the time such blocks are open for bidding.

The State reserves the right to participate in the operations of any block and to determine the type of contractual arrangements between the Allotee(s) and the Government.

 
Oil Prospecting License (OPL)

This confers exclusive rights of surface and subsurface exploration for the production of petroleum in an area not more than 2590 km2. (1000 m2) in size. The OPL is granted in inland basins for an initial period of 3 years with the option of renewal for a maximum period of 2 years. For the deep water blocks and frontier basins the exploration period is ten (10) years, broken into two 5-year periods which automatically roll over unless otherwise withdrawn due to non-performance.

 
Oil Mining Lease (OML)

A Licensee who has fulfilled the work commitment according to Petroleum (Drilling and Production) Regulations of 1969 and the conditions otherwise applicable to the individual License may demand that the License be converted to an OML. An OML is granted upon confirmation of potential for commercial production of petroleum from the License. The OML grants exclusive rights to explore, win, produce and carry away petroleum from the relevant area. The regulation size is 1295 km2. (500 m2) and the specified duration is 20 years. Only the holder of an OPL is entitled to apply for conversion of Oil Prospecting License to an Oil Mining lease, through the Department of Petroleum Resources (DPR) for approval.

The production of 25,000 barrels per day is required as the minimum production level (commercial quantity) for conversion of a deep offshore OPL to an OML. However, for other areas, a production level of 10,000 barrels per day is required.


~Eastern Union Energy
http://easternunionenergy.com/opl-vs-oml-oil-production-licenses-nigeria

With a maximum crude oil production capacity of 2.5 million barrels per day, Nigeria ranks as Africa's largest producer of oil and the sixth largest oil producing country in the world.

Nigeria produces only high value, low sulphur content, light crude oils - Bonny Light, Brass Blend, Escravos Light, Forcados Blend, Qua-Iboe Light. Others include Antan Blend, Bonny Medium, IMA, Odudu Blend, Pennington Light, Ukpokiti. 

We have attempted to outline below, Specifications for the major crude samples. However, these are approximate valuations subject to Q & Q.


Bonny Light

*API Gravity: 35 degrees
*Sulfur Content: 0.2%bbl/mt
*Conversion Factor: 7.526
*Specifications: API 35.4°, S.G. 0.85, Sulphur 0.14, Pour point -18°C, TAN 0.27 mg KOH/g, Nickel 3.6 wppm, Vanadium 0.4 wppm, Visc. (50°C) 2.9 cSt


Qua Iboe

*API Gravity 36 degrees
*Sulfur Content: 0.1%bbl/mt
*Conversion Factor: 7.45
*Specifications: S.G. 0.8487, Sulphur 0.1175, Pour point 60°F, TAN 0.32 mg KOH/g, Nickel 4.1 wppm, Vanadium 0.3 wppm, Visc. (20°C) 5.71 cSt


Brass Blend

*API Gravity variable
*Naphtha: N+2A > 70
*Sulphur: 0.13%
*Specifications: API 36.25°, S.G. 0.845 conversion rate 7.46, Pour point -36 °C, TAN 0.29 mg KOH/g, Nickel 2.0 wppm, Vanadium < 2 wppm, Visc. (40°C) 5.2 cSt


Escravos

*API Gravity: 33.0-33.5 degrees
*Sulfur Content: 0.15-0.18%.
*Specifications: S.G. 0.85, Conversion Rate 7.5, Pour point 7 °C, TAN 0.53 mg KOH/g, Nickel 4.8 wppm, Vanadium 0.5 wppm, Visc. (40°C) 4.75 cSt


Forcados

*API Gravity: 30 Degrees
*Sulfur content: 0.2%bbl/mt
*Conversion Factor: 7.223
*Sspecifications: Pour point -27 °C, TAN 0.34 mg KOH/g, Nickel 3.9 wppm, Vanadium 1.0 wppm, Visc. (50°C) 4.6 cSt


~Eastern Union Energy

Source: http://easternunionenergy.com/various-nigerian-crude-oil-and-their-specifications

• Buyer and Seller signed SPA with ATB format, NOR format, Valid TANK FARM Details, including Tank Farm Managers name, email and phone number and Buyer’s Account Officer’s information.

• Buyer makes official request for Proof of Product (Cargo Documents) preferably through his Bank.

• Seller issues Proof of Product (Cargo Documents) documents to Buyer.

• Upon confirmation of Proof of Product, Buyer through his Bank places a Bank Payment Guarantee (BPG) covering the value of the total agreement quantity to be delivered.

• Upon confirmation of BPG Seller issues NOR/ETA to Tank farm and delivers product.

• After Q&Q, Seller issues invoice for payment, seller discharges into tank farm and Buyer pays for cargo through swift wire transfers into all nominated accounts on SPA, and Seller releases all original documents of cargo in buyer's name.


~Eastern Union Energy
Call/Whatsapp: 08030654233
www.easternunionenergy.com

1. 2,200MT Vessel at Tincan Island. Can carry 2million Litres of AGO.

Daily charter rate: N1.4m.

Charter Period: 10days or more
---

2. MT FAIR ARTEMIS open for 3months

Capacity: 12,000MT

Contract Type: TC

Rate: $12k excluding bunker, WIP, TIP etc.

Serious and RWA employer needed!


Call/Whatsapp: 08030654233
www.easternunionenergy.com

Shell Screen London…There is no such thing!

The “Shell Screen” is an old Joker Broker myth based on a very thin application of truth. There is no “Shell Screen Company” in London run by Lloyds of London or the NNPC or anyone else. The “Shell Screen” doesn’t exist, it is a complete MYTH.

Here is what the Shell Screen is:

It is a tool provided by Shell Oil to allow refineries (only refineries) to verify the particulars about a scheduled product set to be lifted. It is a data base where refineries can look up the numbers on a Proof of Product document (POP) and verify that the product has actually been allotted and given the Authority to Sell, (ATS) to be sold (from a Shell-managed terminal).

People in the secondary market don’t like to see this because it means they can not pre-verify the legitimacy of an offering before presenting it to the end buyer.

The frustration brokers have with this is that Shell Oil will not even allow a buyer or a broker without a refinery license number to get access to the registration page.

It was set up for the benefit of the primary market. In this way, the Majors are attempting to keep all of the mess with brokers out of their business.

It is part of the “old boys club”, so as a broker or a commodities house buyer/seller you will not be able to get access.

Now, you see, just stating “verifiable on the Shell Screen” is actually more trouble than it is worth.


~Eastern Union Energy
http://easternunionenergy.com/what-shell-screen
Call/Whatsapp: 08306542333

Shell Screen London…There is no such thing!

The “Shell Screen” is an old Joker Broker myth based on a very thin application of truth. There is no “Shell Screen Company” in London run by Lloyds of London or the NNPC or anyone else. The “Shell Screen” doesn’t exist, it is a complete MYTH.

Here is what the Shell Screen is:

It is a tool provided by Shell Oil to allow refineries (only refineries) to verify the particulars about a scheduled product set to be lifted. It is a data base where refineries can look up the numbers on a Proof of Product document (POP) and verify that the product has actually been allotted and given the Authority to Sell, (ATS) to be sold (from a Shell-managed terminal).

People in the secondary market don’t like to see this because it means they can not pre-verify the legitimacy of an offering before presenting it to the end buyer.

The frustration brokers have with this is that Shell Oil will not even allow a buyer or a broker without a refinery license number to get access to the registration page.

It was set up for the benefit of the primary market. In this way, the Majors are attempting to keep all of the mess with brokers out of their business.

It is part of the “old boys club”, so as a broker or a commodities house buyer/seller you will not be able to get access.

Now, you see, just stating “verifiable on the Shell Screen” is actually more trouble than it is worth.


~Eastern Union Energy
http://easternunionenergy.com/what-shell-screen
Call/Whatsapp: 08306542333

Commodity Risk Management is emerging as a critical differentiator of business performance.

The new norm in the oil and gas terrain is a regime of significant commodity price volatility, affecting many businesses across different industry sectors and across the entire energy chain.

The oil industry, with its history of booms and busts, has been in its deepest downturn since the past few years. Earnings are down for companies that made record profits in the past. The cause is the plunging price of a barrel of oil.

In Nigeria, prices of petroleum products keep surging. There has been a recent announcement of increase in the prices of DPK and AGO, and a soon-to-be-seen corresponding increase in price of PMS.

The big question is, how will stakeholders hedge against this extreme volatility?

Well, ask no further...

Eastern Union Energy has established Commodity Trading and Risk Management (CTRM) functions which are delivering significant performance and control improvements. We are setting clear CTRM standards.

Management of the price volatility of the commodity and the optimisation of Supply + Demand are keys to our overall performance.

We are using established centralised commodity trading operations, optimising the value of the physical flow of the commodity, trading around the physical flows to add further value, using financial derivatives to manage exposures and in some instances, holding proprietary trading positions.

We have become more vertically-integrated, typically applying ‘active trading’ strategies, managing the underlying risks - within defined limits using tight control standards.

Differentiation happens through differences in ‘risk appetites’, making us active market hedgers - structuring more simplified risk and commercial strategies.


Eastern Union can help

Our CTRM functions can bring insights and good practices to your CTRM challenges:

Risk appetite
Trading strategy
Supply chain optimisation
Contract structuring

Our team have access to the extensive breadth of additional EUE services where these may be required, and our insights are often valuable to our Clients.

http://easternunionenergy.com/energy-commodity-trading-price-volatility-management

These are the rules of trade we, at Eastern Union Energy practise.

They have been developed by Davide Papa over the course of 25 years of international commodities trading.

You will not find courses taught about international commodities trading that involve Intermediaries (Facilitators). Almost all courses assume that trading goes on between Buyers and Sellers only.

In the oil business, there may be 50 or so Principals (Majors) that do primary transactions in Nigeria. But there are thousands of Intermediaries, Agents and people posing as Mandates that are attempting to 'get lucky' (in the secondary market).

We have looked at transactions and offers that are floating around and realized very quickly, “How do these people expect to get paid?”.

Non Circumvention and Non Disclosure Agreements, NCNDA, are for the most part unenforceable.

How is a person with no money going to take on a multi-lawyer firm representing a billion dollar company and expect to get any resolution? And when you consider the international nature of the business, how do you expect to deal with differing legal jurisdictions?

So, we started looking and found Davide Papa’s writings. The rules derived from his brilliant legal mind, over the course of many failures and successes, are the only safe trading procedures we recommend, that will protect every party in a deal where an Intermediary is in the middle of a transaction.

If you are an Intermediary and are not using these procedures it will be a truly rare moment that you will ever close any deal.

Most of the Intermediaries, Agents or Facilitators, and those posing as Mandates for a Seller or Buyer are uninformed boneheads that are trying their best to insert themselves in between a Buyer and Seller and expect by some miracle that they are going to make some money.

We receive countless offers that have faulty procedures and banking instruments that may never work in an oil deal for multiple reasons.

Well, here are the rules. We are sharing them because we follow them (for your benefit).

Read more here: http://www.easternunionenergy.com/uniform-rules-and-practice-intermediaries

Drilling Fluids

The oil and gas industry is the primary user of barite worldwide. It is used as a weighting agent in drilling mud, without which oil exploration will be impossible.

Find out more about us here: www.easternunionenergy.com