₦airaland Forum

godlyguy:
Who sponsored the news? Anything to move the price is welcomed anyways but I will keep talking.

Let me sound a note of warning to those that want to fight dirty if I start even the bots will be crying

You may have right to suspect that Oando sponsored the news. Fine!
But are you certain and sure, with evidence that they actually sponsored the news?
Are they the one sponsoring all the news in every news portal, including negative news when it was reported that they were making losses and could become insolvent and bankrupt?

godlyguy:
My point isn't even about the price movement of oando. They should release the results instead of always rushing to the media for PR or MEDIA HYPE

I don't even check their price as what is more important is their financials being a public institution. The public needs to know

A news portal goes to publish an old news about a company, and you are blaming the company for media hype?
The news item in question is not a recent press conference or press release by Oando.
It is a news portal reporting a story that is more than a year old. It would have been different if it is Oando doing a press release and repeating the same news again and again.
Don't you know that some news portals sometimes recycle stories to fill in spaces?

Tpharell:
Let me also add that Oando had an advantage over the other divesting entities that could have played into their sealing their deal before others.
Being already a participant in the JV with 20% acquired from ConocoPhillips a decade ago, they added Agip’s 20% state in the JV and became the operator. So the JV was already familiar terrain for them even before the divestment, unlike Seplat who has never participated in the Mobil JV they seek to acquire now

True.

Tpharell:
While I have not seen anything empirical that shows Oando was favored against Seplat and Renaissance in the ongoing divestment, and nothing shows president Tinubu has any direct interest in Oando which was founded even before he became governor in 1999, you cannot pretend or discount the reality of how Nigeria works. People own companies by proxy in a manner that the ‘veil cannot be lifted’. It will be downright and gravely delusional to not consider that Wale Tinubu who has direct access to the president (a blood relative) can very easily call in a favor for Oando and the weak regulatory bodies will read the body language coming out of the villa and do the needful.

Fair comment.

Please let us continue with the education on happenings in the energy sector (not only about Oando and Seplat).
I am learning a lot.
Kudos to all the contributors.

KarlTom:
I don't think they are going to decommission any of NAOC assets.

The provisions are meant to provide required funds for the eventual decommissioning of the assets in future, even if in 20 years time from now.
It is an industry requirement or standard that players in the upstream sector must comply with, because the decommissioning costs can be very huge and it is better they make adequate provisions long before the actual time/year the costs are incurred or expended

yMcy56:
FBNH
Full bid @31.90.....
Is the Elephant coming with special news or what?

OANDO
Bids currently more than offers..,.
I hope NSEMPAs will just allow this stock breathe and give it a break on this everyday bad belle/forth and back!
It's not the only stock in NGX, you can focus on Aradel or refinery for now.......😊

I suspect FBNH will be coming to raise capital.
Expect UBA soon after FBNH

Tpharell:
Even that “reduce dollar demand” is yet another delusion, as what I see is that the demand and supply will cancel out when you factor in the FX loss due to selling crude in naira.

It is certainly not uhuru yet even with Dangote refining locally, as there will still be petrol scarcity every now and then, like when Lokoja gets flooded due to the terrible state of infrastructure in Nigeria.

Dangote refinery will create jobs and produce raw materials for petrochemical industry, but will certainly not cure our FX challenges, end importation entirely or “crash” petrol prices.

For now, let’s enjoy the sentimental value of “refining our crude ourselves locally”

No one is saying that the refinery will CURE our FX challenges. But it will contribute its own quota in reducing the pressure on the naira. It is a kind of import substitution.

Even if there is some net off between the demand and supply of dollars due to crude oil sale in naira, the demand side has a higher impact on the volatility and fluctuation of currency, because refined products like PMS (which were being imported and demanded for dollars) command much higher value than the crude oil.

Tpharell:
Good and objective take.
Take note also that the decommissioning provision is a new regulatory requirement of the PIA which the NUPRC is enforcing in the divestments. I know for a fact it is one of the things holding back the Mobil/ Seplat deal as the fund had not initially being factored in the deal. The divesting assets are old and some are close to their design end life, upon which they need to be decommissioned. The PIA framers thought it wise to make provision for a dedicated fund for that activity

Thank you for the education.
Please, kindly help us educate those people who are saying that the Mobil-Seplat deal was deliberately frustrated by the govt in order to favour another company. Unfortunately, that line of thought was also shared by an opposition politician (reason why I say that every politician, from both govt and opposition, must be scrutinized properly when they make comments)

Tpharell:
Even if they did, it won’t change much.
Where do we always get this delusion of ‘game changer’? That’s how Dangote was supposed to be the game changer to crash petrol price, and PVC/IREV were supposed to be the game changers in the electoral process. Today we know better.
Without strong institutions, it’s all a waste of time. Recall Oando got suspended on JSE for late filing, but NGX and SEC here where the company operates all looked away.
With the lawlessness and impunity of the establishment, NNPCL listing cannot change much as market regulators will be waiting for the body language (odor) of the government to decide which way to act

Dangote Refinery can be truly a ''game changer'' for good reason. It creates jobs, saves/reduces dollar demand etc.

However, Dangote is being blackmailed by a mischievous and disingenuous NNPC, which has mischievously released the cost of PMS from the refinery in order to pre-empt and pitch the people against the refinery.
Dangote bought its current stock of crude in dollars, and that is what he can sell to NNPC until October 1, when he receives crude in naira from NNPC
NNPC has not yet sold its crude in naira to Dangote (until Oct 1), so why is the NNPC rushing to tell us the cost makeup of PMS from the refinery's stock of crude which was bought in dollars? NNPC deliberately did that so that the citizens would complain that the cost (N898) is too high and provide an excuse for NNPC to justify importing from abroad.
If the NNPC was transparent and accountable, they should have given us the cost make up of their imported PMS long before now, so we can compare with the cost of PMS refined by Dangote from their dollar-based imported crude.

The key thing to focus on is this:
The NNPC should tell us the naira cost/price at which they will be supplying crude to Dangote, from October 1.
Then we can also get the cost/price of refined PMS from Dangote from October 1.
If the cost of crude from NNPC is competitive/cheap, the refined product from Dangote will also be competitive/cheap.
The NNPC should stop playing on the intelligence of Nigerians.
Dangote Refinery can be the game changer that we want (at least for now) if it gets all the required support from the government.

gbaskiboy:
This will ease traffic at Alapere estate Road and ogudu road. Good development, Lagos State government is doing well. Ogun State her sister state should emulate structural development in Lagos State

The road is a federal road. Lagos State did just some minor repairs on it.
Stop the exaggeration

DevilsEqual:


The distribution fees from the second statement is already more than the cancelled out Margin and inspection fees from the first


Even Neymar no dribble reach this one


PBAT needs to send Gbaja to NNPC and go see things for himself.

Its clear that Kyari just wanna succesfully and completely turn Nigerians against PBAT, while making loads of profits for himself. External Auditors get work to do

The NNPC is clearly blackmailing Dangote

DevilsEqual:


Come Alive! We now have a true President

He just returned from China and UK trips and here he is

I'm sure that after seeing things for himself, he's gonna set up a committee that will help to mentally and physically rehabilitate the victims, while also supply them with abundant of amenities to make up for all thats lost

Smile again Borno

God Bless PBAT

You have a true president ?
You cannot be serious.
A president that has destroyed the livelihoods, businesses and dignity of the citizens in just 18 months with his reckless, clueless and incompetent govt.
Tinubu is a failure as president, whether you like I or not. I am not a PDP or LP supporter but truth moudt be told!

EreluRoz:
What did she do to stop her mom from destroying her father and why did her father allow her mom to destroy him? I've always dislike weak men. I can never love a weak man, I'm not drawn to them at all, a very big turn off for me.

Stop bragging . You don't know what the future holds

ositadima1:
You sound like a grandpa who would warn you against drinking soft drinks without explaining the nuances of diabetes. I doubt he fully understands the complexities of the disease, just seeing it in black and white.

Have you heard of the concept of risk parity? This investment strategy rebalances and diversifies a portfolio based on overall risk, not just proportions. Allows investors to include riskier assets if it doesn't increase the portfolio's overall risk, potentially reaping higher returns.

For example, I did my "double your money" challenge with Oando when it was trading at 15 something. While 500k is a significant sum (maybe not ), even a 50% loss wouldn't have significantly impacted my entire portfolio.

My point is that no stock is inherently bad. What matters is your investment approach. There's nothing stopping a beginner from investing in riskier assets, as long as they fully understand the risks involved.

My brother, thank you. I have learnt from what you typed
But mind you, they may come after you and call you an APC agent or Monkey Hunter if you keep defending or saying positive things about Oando.
.He has some point but he has decided to use only one way analysis and he believes that any other contrary opinion is Monkey Hunting. He is not alone. He has classmates who join him to chorus the myopic view that he holds.
I don't know why some people become unnecessarily toxic in a faceless forum like this.

Bagwa:
https://www.thisdaylive.com/index.php/2024/09/15/why-everyone-wants-to-be-like-wale-tinubu/

Empty article! Makes no cogent point or analysis

ALTERNATEID:
So, how much did you sell the product to NNPC? I can’t see the actual price in the press statement. Again, I call on Dangote to come out clean. The presidential committee is not the one producing for you. Tell Nigerians directly how much you’re currently selling to NNPC based on the crude you bought in dollars.

Please calm down and wait. Dangote is not the only refinery in the country therefore they cannot just release a figure anyhow. There seems to be a an arrangement/understanding by which local refineries receive crude and then sell refined products to NNPC in naira, therfore it is not only Dangote that will be used to determine the price.

haybhi1:
Damn. It's important Lagos is standing up to noise pollution to a reasonable degree in respect to other states.

From Churches to Mosques to Bars and others, we need to keep this country sane. We can't admire the Whites for sanity and shy from what things make them so sane

If they are very serious about noise pollution, let the state govt provide electricity to every community and homes. The noise from generators is the main thing to resolve if that are serious

Minjim:
Scammers.


Imagine this people scamming a whole nation.

So this is what it means to refine locally?
No difference

Jobs have been created; naira will be strengthened against the dollar.

KarlTom:
Q1 2025 is being muted

https://newtelegraphng.com/dangote-refinery-mulls-dual-listing-on-ngx-london-stock-exchange/

Wow. Thanks for the info.
Man must find some money and keep. Dangote Refinery will be loud on NGX!

Omooba77:
https://punchng.com/nigerians-can-no-longer-afford-to-buy-drugs-pharmacists/

Tinubu and his clueless, incompetent APC govt has destroyed the economy of Nigeria

sslcrypt:
Nothing good will come out of it. Raise capital by sales of bond isn't beneficial to the economy because we don't have any economic activity that's generating revenue. Rather we been taxed more and more despite Nigerians been very poor. The bonds tenure runs on periodical basis from months to years and once the maturity reaches, the FG have to pay them back. Now the question is where's the FG going to source the profits to pay back investors along with their capital?

Exactly.
They will end up printing currency to repay the loan, and causing higher inflation, interest rate hike, higher cost of living, more poverty etc

DeLaRue:
The government is on track.

The stars are beginning to align for Nigeria.

One step at a time.

There is nothing to celebrate here. The FGN is just amassing debts which must be repaid with interest in future.
They are borrowing and misusing the funds on useless things like palliatives.
When it is time to repay the loans, they would print money which would cause higher inflation, interest rate hike,and people would suffer more.

BeeBeeOoh:
https://dailypost.ng/2024/09/14/300-trucks-in-dangote-refinery-to-lift-petrol-on-sunday-nnpc/

The MD of NMDPRA must be sacked immediately!
Why is the NMDPRA/NNPC now loading fuel from Dangote Refinery if the products are inferior and substandard as he claimed?

Raider76:
I don't know when NUPRC came in as a financial regulator of listed oil companies akin to CBN with banks. Maybe it is provided for in the PIA. I noted that Oando claims to be submitting their results to the Financial Reporting Council (FRC) for vetting before release. As NUPRC came out of the controversial NNPC I am personally not comfortable with them being a financial regulator of listed oil hicompanies.

NUPRC as regulator (if permitted by law) may impose additional penalties on upstream companies if they fail to comply with some requirements, like the CBN does for banks, in addition to the SEC rules/penalties. Although I know rhe banks have a peculiarity that is different from other sectors.
NCC too may do that if permitted by law.
The sector regulator should be allowed to impose additional penalties that would enhance transparency and accountability
I think SEC can impose heavier penalties to minimise the delay in filing audited accounts by companies like Oando and others

megawealth01:
How exactly?

I still sent dollars home last week and the rate never change

The news on Nairametrics says dollar is now N1,543 which is an improvement . Hopefully, it would improve and get to around N1,000./$

By the way, when is Alhaji listing the refinery on NGX?

emmanuelewumi:
Even banks that requires rigorous scrutiny by CBN, SEC have all released their 2023 audited financial report, some have even released their H1 2024 audited financial report.

Oando has been having issues releasing their accounts on time for several years now, so I thought you are already aware. In fact 2022 accounts was released 2024. It is not good, but that is what the market/industry has been coping with in recent times.
The red flag has always been there and obvious.

You have already provided an answer to the reason why banks prepare their accounts on time .....rigorous scrutiny, timelines and heavy penalty for default imposed by CBN, SEC, etc.
I am not sure if such timelines and heavy penalty is imposed by NUPRC but I agree it is not good for their corporate image and for investors

emmanuelewumi:
Even banks that requires rigorous scrutiny by CBN, SEC have all released their 2023 audited financial report, some have even released their H1 2024 audited financial report.

Are you just following the trend of Oando's audited accounts? People would even commend them if they are able to release the 2023 accounts in September 2024

emmanuelewumi:
Q2 ended on the 30th of June 2024, I wonder why the result is not out 10 weeks after. Even banks whose results were audited and approved by CBN have started publishing their results

The accounts for one financial year must be audited and filed with statutory and regulatory bodies e.g. CAC, FIRS, NUPRC etc before interim or quarterly results of subsequent years can be released.
The FY2023 audited accounts for Oando is due for release by ending September

k4kenny:
Haven't the entire downstream NNPC(NNPC Retail) been dissolved and shares transferred to Tinubu's Oando? The Headline should read: Dangote will only sell petrol to Oando

https://www.premiumtimesng.com/business/business-news/725854-amidst-fuel-crisis-nnpc-retail-cedes-total-control-to-ovh.html.

Please seek more enligthenment on this issue if you don't mind.
OVH belongs to NNPC (Group) Ltd

emmanuelewumi:
You don dey fear ni. A positive shareholders fund is not possible in the next 2 yeas organically except through injection of more capital that will be a minimum of N1 Trillion or the current financiers convert their loans to equity.

Just wondering why Q2 financial report is not yet out

Q2 2025 results can only be released after FY2024 audited accounts had been released, and that is schedule to be out on or before Sept 30.

BabsO2:
If SHF remains negative in 2024 it means wahala. Price may start going down or never shoot above 100

It also depends on the timing of the 2024 results. They may delay and release it together with the Q1/Q2 2025 results when the SHF would be showing positive numbers

Princkez:
OANDO..

What is the source of this , and which officer of Oando confirned the story? This kind of report can create another needless controversy , so we should wait until there is official announcement by the company.
The MD of
Oando Energy Resources stated clearly in the Arise TV interview that they have no interest or plan to play in the downstream and refinery business.