₦airaland Forum

ARADEL. -0.12%
CONOIL. ±
ETERNA. ±
OandO. -9.72%

...

adamx23:
https://www.reuters.com/business/energy/bp-ditch-renewables-goals-return-focus-fossil-fuels-2025-02-24/

STREET!!!

Streetinvestor2:
You are very correct.
I will advise you sell now to avoid loss

Streetinvestor2:
When will they start making aircraft that use batteries instead of aviation fuel.
Na that dey many people go stop to dey fly..
Lol

If they could not declare profit in 2023 (when other banks had massive FX gains, I don't know what sort of magic they will perform in 2024.

We await 2024 AFS

emmaodet:
This is 2023 financial report and not 2024. Ii expect them to declare profit in 2024. The 62b loss was main from 50b forex exchange loss.

Infact I tire...

emmaodet:
Interesting.
A 62b naira loss after tax when all other banks are declaring profits.
It's well

Ding!

UNITY!!!

https://doclib.ngxgroup.com/Financial_NewsDocs/43170_UNITY_BANK_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_FEBRUARY_2025.pdf

Una good morning 🌞

There are clear facts. There are dark areas too.
Nothing is certain.

European countries ban the sale of new vehicles. That means they'll have a grace of at least 5years after the deadline before imposition of hefty taxes on vehicles sold in 2035-2040. So we're looking at 2040-2045

Now where do we think those vehicles that are banned will end? (you got it: AFRICA)

I foresee the world powers trying to sanction African leaders to conform to clean energy/reduction in greenhouse emissions etc

We can keep postulating and estimating but I [sadly] don't think whatever will happen is really in our [African] control...

Over and out ✌🏽

Youngzedd:
Every component of the solar energy system is getting cheaper and better.

Compare the price of Lithium batteries to understand better. The issue we are having in this part of the world is the exchange rate. Even with the bad exchange rate, lithium battery is cheaper today than it was last year.

As countries start banning the production of petrol cars, the demand for petrol will nosedive.

Yes! There are still people who will drive petrol cars, but what we are looking at is the quantity. As more people drive EV cars, the government may impose a tax on those with petrol cars, which will accelerate the phase-out of petrol cars.

Nigeria's fuel consumption before and after subsidy removal aren't the same. We all know that business is a game of numbers, the higher the number, the higher the profit in most cases.

Technology will drastically reduce the demand for many things, petrol inclusive.


If our country fails to diversify ASAP, the future won't be so bright.

Not to be a kill joy, I am 100% a proponent of clean energy.

However, it is currently neither easy nor cheap and I do not think it will be easy or cheap anytime soon.

1. As at 2024, about 200kWh of energy is consumed to make a single 100-watt solar panel
2. You rightly mentioned Nuclear Fusion, which is not adopted my many countries because of the risks involved.

In the event that we have 50-50 of EV and GV, PMS demand will reduce and I want to believe that its price will drop (although I foresee a high emission taxation for GV.

Biogas did not get the desired breakthrough in the energy space because of the huge CapEx.
Not everyone is able to afford the initial outlay, so long may fossils reign!

In summary, "the bolded"

ositadima1:
Bro, the future is electric and powered by renewable energy. And that future isn't far off.
That said, crude oil will still be needed for many byproducts like plastic, synthetic rubber, lubricants, and fertilizers. Eventually, these will be the primary reasons for drilling, which will reduce oil revenue while increasing the cost of these byproducts—since gasoline currently subsidizes them.

Africa, however, will continue using petrol-powered cars for a long time...

25 years is not 'just'. It is actually a 'generation'...

Funny enough, I read an article over the weekend with a fair number of EV users willing to return to fossil powered vehicles. The main reason was the length of time it took to 'recharge' the batteries...

I believe that we will see major improvements in the automobile industry such as self-powered vehicles (wind, solar), faster chargers etc. AI also has a huge role to play here. Until then, fossil fuels will remain with us.

Trucks and heavy machines should also be considered in the bigger picture.

emmaodet:
Well, we will see but from my point of view, it may not be that long.
Have seen things changed from 2000 to 2025. Just 25 years.
From Nokia phones to android/apple, cars in different forms, big tvs / black and white TVs to flat screens/curves/LCD/hd/led etc
Things are moving at a rapid rate

ARADEL. ±
CONOIL. ±
ETERNA. -2.96%
OandO. -2.37%

The long run is actually very long...

emmaodet:
Hydro/Dam, Solar, Wind or gas/oil.
The truth is the demand for oil will keep dropping on the long run

Current needs must be addressed immediately!

Food, clothing, shelter are [non-negotiable] current needs...

emmaodet:
Prioritizing current needs like a bigger car, apartment, clothes will make you have little left for your future. You will hardly have savings not to talk of investing and little room to maneuver when emergency strikes

What happens when [if] you prioritize your current needs?

emmaodet:
If you consistently prioritize your future needs, life will become easier and easier.

If you consistently prioritize your current wants, life will become harder and harder.

Ding!!!

UPCOMING BM

TODAY 24 February
RONCHESS, TRANSCOHOT

TUESDAY 25 February
NESTLE, NGX, SEPLAT

WEDNESDAY 26 February
LAFARGE, NASCON

THURSDAY 27 February
AIICO, DANGSUGAR, MECURE

FRIDAY 28 February
CONHALL, FCMB

It is a block that gives oil 🛢️

zendi:
This is more like it, for the sake of sanity.

You're well versed in the industry.
Please what is an oil block?

Our friend Mikeapollo must own some blocks within the Oando Empire.

You quickly Maradona'd your way with the disclaimer...

zendi:
God forbid !
Far be it from me to suggest crime.

You know that Maradona is a personal name.
I mean there is one good turnaround accountant by name Maradona who can help them craft an accurate Q1 Result.

Should be between $400m and $600m

Your 'source' is probably Billionaire Africa

zendi:
The $15b price tag for Trinidad Refinery sounds both scary and crazy.
It cannot be true.

I read it somewhere but cannot find that source now to post it here. Therefore I hereby renounce and retract and outright disown that part of my post.
I have no idea how much is Trinidad Refinery.

I would have simply deleted the post but it has been widely quoted.

Dangote built a brand new edifice on home soil for $20b.
Trinidad is a decrepit "belgium" refinery that will require pouring in even more money
to refurbish, and I hereby distance my name from such story.

Let me drop my 2cents.

I also bore similar a view to the bolded until I did more digging.
Here's what I discovered:

1.
According to Statista, as at 2018, Trinidad and Tobago (T&T) has proven oil reserves of 214m barrels as well as natural gas deposits totalling 11trn standard cu feet (scf) – which represents 0.2% of the world’s gas reserves. That sharp drop between 2015 and 2018 needs to be investigated.

2.
In 2018, T&T exported 12.2m tonnes of LNG, making it the 8th largest exporter of the commodity worldwide, with a 3.9% share of the international market, according to the International Gas Union (IGU).

3.
The Refinery in question (also called Pointe-a-Pierre Refinery) is a 168 Mbpd oil refinery. It happens to be the ONLY refinery in T&T 🤔. It was shutdown in 2018 due to very poor gross refining margin. At this time over 70% of the refined crude was imported. The source of imports were from Russia, Venezuela, Colombia, Brazil, Nigeria, DRC and Gabon.

4.
T&T has a daily local demand of about 32.5 mbpd.
If OandO can get the Refinery running at min 50% capacity they will be getting 84 mbpd.
That leaves an excess of over 50 mbpd for export.

For context, the trading arm of OandO generated about 57% of their annual income in 2023.
A foreign influx of USD revenue cannot be ignored. ..

OandO Group has tried severally to own a refinery either by building or acquisition.
See
https://www.oandoplc.com/press-release/oando-completes-detailed-bankable-feasibility-on-its-oil-refinery

https://dailytrust.com/fg-grants-approval-for-oando-eni-to-fix-p-harcourt-refinery/

Raider76:
It will be very unpatriotic to invest $15b in a foreign refinery at this time when Nigerian private refining industry is just taking off. I know that business should not be done on sentiment. But as a Nigerian I will hate to see that happen.

Besides, in the event that that refimery in Trinidad is bought by a compny operating in the upstream of the Nigerian oil operations, will definitely be run with Nigerian crude , at the expense of Nigerian refiners and local jobs. The refined products will then be imported back to compete with the local refined ones in the name of encouraging competition.

OandO 😎

No. Better...

SonofElElyonRet:
This?

https://nairametrics.com/2025/02/20/vfd-group-approves-n5-billion-capital-injection-for-v-bank-indicates-intention/

ojeysky:
Sold Nason last week at 40 bought DS at 36, will see how it goes.

ARADEL. ±
CONOIL. ±
ETERNA. -4.47%
OandO. -4.92%

Dingg

Same bank: V mfb

megawealth01:
A new bank because they own VFD Microfinance Bank

zendi:
Transcorp
Aradel
MTNN
Oando
Eterna
FUGAZ
NB
UACN

KarlTom, how many eyes do I have and where are the unlimited funds?

Keep an eye on VFD...

Every mallam to his kettle...

ARADEL. -2.72%
CONOIL. ±
ETERNA. ±
OandO. -1.51%