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Nairaland Forum / Nairaland / General / Politics / Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC (19723 Views)
Local Refining May Crash Petrol Price To N300/Litre – Modular Refineries / Dangote, Modular Refineries To Pay Naira For Crude / Mele Kyari: Refineries Can’t Be Restored Soon, A Process Is Going On (2) (3) (4)
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Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by nedekid: 2:24pm On Mar 05, 2022 |
mrvitalis:That was what nitel said until mtn, econet came on board. Mtn said it was impossible to do per second billing, until Glo came and they all started per second billing. Oga, raise price of fuel to 1k per liter and you will get the same excuse why they cannot produce at that price and tell you it must be 2k! How about assigning 1 marginal oil well to each modular refinary. Extract and refine and sell to the local market? After all the oil is our natural resources. Give it to the refinary for nothing! Anyway, if there is a will there is always a way. 3 Likes |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:25pm On Mar 05, 2022 |
what a daft thing to say. if you can subsidize foreign petrol why cant they subsidize the petrol from local producers? is the fuel they are importing landing at below the approved price? 1 Like |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by mcdokwe(m): 2:26pm On Mar 05, 2022 |
backbencher: No, the refineries are obviously not functional because of government's culture of impunity. This is explained in the continuous subsidy of imported fuel despite the 'high cost' (arguable) of fuel. Or are you telling me the subsidized funds are not enough to keep the refineries working even when those cost run in billions of dollars? 1 Like |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by jmoore(m): 2:27pm On Mar 05, 2022 |
backbencher: Is the cost of production in other countries static? If the rising cost is only present in Nigeria, then you can't blame subsidy. If we remove subsidy and imported petrol has lower cost of production than locally refined petrol, then buyers would prefer to import than to buy locally. 2 Likes |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by timefarm(m): 2:27pm On Mar 05, 2022 |
backbencher:It can't not work because they dont wantt it to work. To account for the regulated price, the crude oil can be sold to them at lesser price to balance the subsidy on the imported one. |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Alexgeneration(m): 2:28pm On Mar 05, 2022 |
backbencher:Why would local modular refineries run at a loss when the foreign refineries are making huge profits from the same subsidy that the local refineries will be getting if they are subsidised? Why would cost of production increase when they can use the subsidy to scale up their production by building more refineries? |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by erico2k2(m): 2:29pm On Mar 05, 2022 |
backbencher:why cant the FG pay the subsidy to the modular refineries so they can function. at least we know where our petrol is coming from and the volume can be checked. Answer, fraud wil be reduced so they dnt like this. 2 Likes |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:29pm On Mar 05, 2022 |
erico2k2: The point of the report is that subsidises , which is part of the 'regulated price' system, won't let the refineries operate at a profit. 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by christistruth01: 2:30pm On Mar 05, 2022 |
Why is NNPC trying to block the Creativity of Nigerians ? |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:30pm On Mar 05, 2022 |
Alexgeneration: All in all, modular refineries must be allowed to operate at a profit, and paying them a subsidy after setting their price too low by government won't allow that to happen. Better read up about subsidies. 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Mrpojj(m): 2:31pm On Mar 05, 2022 |
lalasticlala:This people think they are talking to idiots , If you can pay subsidy for fuel imported from foreign countries, then it the home refined products you can't pay subsidy for? 1 Like |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by mrvitalis(m): 2:31pm On Mar 05, 2022 |
nedekid:Stop saying what u don't know what's the price in Togo , Ghana , Benin Republic, Cameroon ? 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Osanoghodua1: 2:31pm On Mar 05, 2022 |
Stupid! Enact a law to sell to Modular Refineries in naira and not dollars. Then they can sell below 165 or even #70 after refining. Must you sell to your nation at international price? |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by mrvitalis(m): 2:32pm On Mar 05, 2022 |
BennyDGreat:Sure but they should have removed it in 2015 |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by seunny4lif(m): 2:32pm On Mar 05, 2022 |
Golan007:It’s so bad that nothing works in this country |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by hansomb: 2:32pm On Mar 05, 2022 |
Nigeria had been missing its oil production quota lately. Early last month, OPEC increased Nigeria’s crude oil production target for the month of March despite the fact that the country had been missing its approved monthly output targets..Even nijar produce there oil themselves and import some to Nigeria through kastina, daura |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Alexgeneration(m): 2:32pm On Mar 05, 2022 |
backbencher:They sell their fuel very very cheap. Government recognition will increase productivity and not sale price. |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:32pm On Mar 05, 2022 |
timefarm: And then the people who bring that crude oil out will be angry with you for reducing their salaries, plus the companies drilling won't have much profit to maintain their rigs, expand their rigs, and so forth. Dude, everything has to operate at a profit. What you are calling for is similar to someone telling you to do the same work at the cost of them paying you half your salary, with no chance of salary increase, even when promoted. 2 Likes 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Buliwyf: 2:33pm On Mar 05, 2022 |
jmoore: That doesn't mean it is a dumb reason. The government has not made any commitment to buying at a subsidized rate from the modular refineries yet. Until then their fears are justified. Also we know a lot of the subsidized fuel imported to Nigeria end up in neighbouring countries anyway so even the modular refineries cannot sell outside the country until we get rid of the subsidies. |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by nedekid: 2:33pm On Mar 05, 2022 |
mrvitalis:I am talking of Nigeria not those countries you mentioned. Nothing concerns me with their prices. |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:35pm On Mar 05, 2022 |
jmoore: No, that's why prices rise at a much higher rate in other countries . Nigeria has used subsidy to prevent you from feeling rises of cost in production...it's the reason why the subsidy was brought in in the first place (oil price rises due to the Yom Kippur war of 1973 which meant that fuel prices would rise as well. Government rushed in a subsidy on fuel) If the rising cost is only present in Nigeria, then you can't blame subsidy. It's called competition. 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by HarryDuce(m): 2:35pm On Mar 05, 2022 |
Alexgeneration:Their fuel is relatively cheap because they steal the oil. If they're recognised and made to function legally, operations cost will rise. 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Alexgeneration(m): 2:36pm On Mar 05, 2022 |
mrvitalis:Counter his argument of giving one oil well to one modular refinery to produce and sell to their local market. I'm waiting. |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by generalwhite756: 2:36pm On Mar 05, 2022 |
Nice one Very good 2Now I have another forum to go anytime nairaland mess with me HonestFriend36: The site is a good alternative to Nairaland
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Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by oyatz(m): 2:36pm On Mar 05, 2022 |
BSsniffer: Dangote refinery hasn't started business o 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:37pm On Mar 05, 2022 |
mcdokwe: Exactly. Subsides don't allow refineries make profit, they just cover the losses from government setting the price below the cost of production so that we can have 'cheap fuel'. And yes, the impunity that wrecked the refineries is a side effect of subsidies. (If there was no subsidy, no one would sabotage any refinery since under such a regimen, the refineries would be forced to live off their profits. Any corruption or sabotage would impact profits, and cause problems. Serious problems) 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Alexgeneration(m): 2:38pm On Mar 05, 2022 |
HarryDuce:You're making baseless assumptions. How do you know that operation cost will rise? Oh, you would want the government to sell the crude to them at the international rate,right? |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:39pm On Mar 05, 2022 |
Alexgeneration: Well, on another thread, someone commented that he bought fuel from 'illegal refinery' at a cost higher than N200. Also government recogniton means that they have to adapt to the same standards, including environmental , to work well. Meaning they have to buy and build new facilities that meet the new standards, and maintain them,and those cost money. Meaning a rise in their cost of production, and a rise in fuel price. (Or you want people to keep on having soot and pollution because 'cheap fuel'?) 2 Likes 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by oyatz(m): 2:39pm On Mar 05, 2022 |
mrvitalis: On this issues of refining, you seems to be anti- people and aligning with the Government! |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by Nobody: 2:40pm On Mar 05, 2022 |
On a long thing o salbis: |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by HarryDuce(m): 2:43pm On Mar 05, 2022 |
Alexgeneration:Well, they will have to buy the oil they're used to stealing. They will also refine using cleaner methods all of which involve money. I'm sure you're no stranger to the soot pollution in Port Harcourt and environs. 1 Like 1 Share |
Re: Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC by 123papas(m): 2:43pm On Mar 05, 2022 |
Give them crude oil at the price of 40$ pb and they will produce. We can’t sell crude oil to ourselves at the price we sell to opec 1 Like 1 Share |
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