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Nairaland Forum / Nairaland / General / Politics / Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December (9179 Views)
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Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by jude79(m): 1:39pm On Dec 06, 2023 |
Sangoamadioha1: Hahahaha!!! I laugh in akwaibom, .saw the interview on channels. I must say after watching it, I came to the conclusion we have just wasted another $1.5b 2 things in particular he said. 1: We are only going to get 25% PMS yield per barrel whereas the current standard is closer to 50% 2: the grade of PMS from that old refinery is inferior and can only be improved with the addition of lead. Leaded petrol has been banned. We may just have spent $1.5b to fix a refinery to produce petrol we cannot use or that will damage modern engines Let's assume we go ahead and produce from this refinery as you are suggesting, only old model cars of the 70s, 80s, some late 90s and early 2000s can use it, unless it's leaded, but leaded PM's is banned, so we are stuck, again, most cars in Nigeria are about 21 year and below, so we end up with a petrol that damages our engine. Secondly, at 25% extraction efficiency, instead of 50%, it means that we will be producing at a loss due to the fact that the refinery can't produce shale oil which makes up the remaining 25% to balance up, profit is around 22% margin, remove that from 50%, it gives us 28%, in other words, production cost will be pegged at 28%, now if you minus 25% this refinery will give us, we ends up with 3% loss for every barrel produced. Thirdly, it will cost 15times less, ie $100m to build modern modular refinery of same capacity, with higher efficiency and lower production cost to run. I hate to admit it, but he's right and Nigerian government is on fraud mode. 1 Like |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by larryUG(m): 1:43pm On Dec 06, 2023 |
Ojuntana:That is being fixed too. Just that the old one is scheduled to be ready first before the new one |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by alfajohn: 2:12pm On Dec 06, 2023 |
Sangoamadioha1:please read before you comment. The man said as the time he was MD the refineries were working and no need for importation. |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by mvem(m): 2:28pm On Dec 06, 2023 |
Sangoamadioha1:how many years have the government keep selling you lies about fixing the refinery or revamping it |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by Sangoamadioha1: 2:45pm On Dec 06, 2023 |
coleon: No need arguing with you, just goggle when Nigeria started importing fuel then correct yourself. |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by HRMK: 3:26pm On Dec 06, 2023 |
people like this should simply keep quiet!he is one of those that ruined the refineries!! |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by frog12: 3:55pm On Dec 06, 2023 |
this MAN don expose the LIES |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by Benekkk: 3:56pm On Dec 06, 2023 |
Zonefree:Volume please, for those of us at the back! |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by frog12: 3:58pm On Dec 06, 2023 |
WASTE?? the money will go somewhere else casualobserver: |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by casualobserver: 4:09pm On Dec 06, 2023 |
frog12: Yeah if Ogedengbe’s observation turns out to be right (as the project manager for the construction of PH2 and a former MD of the refinery, he should know), then it is a waste. If the PMS produced is not fit for use, then what’s was the point? 1 Like |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by frog12: 4:22pm On Dec 06, 2023 |
the MAN dey reveal a lot. someone in NNPC dey steal money: He stated that although during his time money was usually budgeted for maintenance, but such monies were never fully released by the NNPC headquarters. To augment this, he said the Kaduna and Port Harcourt refineries at the time he was the managing director, went out of its way to begin the production of tins and drums to survive. Every month, we will receive between 50 and 60 per cent of our budget. We are supposed to pick up the rest somehow. You have to be imaginative. On why monies were not fully released for maintenance during his days as head of the refineries, Ogedengbe stated that the question should be directed at the corporate headquarters of the NNPC at the time which controlled the budget. |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by frog12: 4:24pm On Dec 06, 2023 |
we dey say the money is being stolen as we speak. the man is revealing a lot. casualobserver: |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by ONNYX: 4:32pm On Dec 06, 2023 |
Sangoamadioha1: You are expending a lot of effort to make this gentleman look bad before us. You even went as far as assuming.......and even broadcasting the assumption that being a former M.D he must be involved in some dirt/fraud or another. You will have heartbreak the day you did over that some people have attained great heights in government, worked their bum off without stealing a dime from public coffers. If you had listened to the interview you would have known that this man is one person who tried his best in the circumstances he worked. That's the best he could offer then and that's what he did. |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by Caseless: 4:46pm On Dec 06, 2023 |
Sangoamadioha1:Oga, you didn't read what he's saying. I watched him yesterday on channels TV and I want the NNPCL or the contractor to react to his claims. I want to know why they chose to fix the older one over the newer one. |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by Caseless: 4:48pm On Dec 06, 2023 |
ONNYX:I watched the interview and I have to salute this man. |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by blackboy(m): 5:11pm On Dec 06, 2023 |
Everyone knows but the president believes their lies. These guys need to be changed |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by casualobserver: 5:23pm On Dec 06, 2023 |
frog12: The money is being stolen and the money is being wrongly spent are 2 different things. Nobody is saying the money is being stolen. I am a teetotaler, I give you money to buy me a drink. You come back with beer. You have wasted my money even though you didn’t steal it because beer is of no use to me. If what Ogedengbe is saying is true then the petrol from this refinery is useless. The only thing we will get is diesel and kerosene. 1 Like |
Re: Ex-NNPC ED, Alex Ogedengbe Doubts Port Harcourt Refinery Will Work This December by caye(m): 8:14am On Dec 07, 2023 |
alfajohn: Hmmm...we have investigated ourselves , and found ourselves NOT GUILTY. make it make sense. |
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