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Nairaland Forum / Nairaland / General / Business / Totalenergies To Exit Nigerian Onshore Oil Business (18053 Views)
Bank Staff Escape Angry Customers By Using The Back Fence To Exit Bank / Shell To Divest Onshore Oil Stakes In Nigeria, Open Talks With FG / Mr Price Plans To Exit Nigeria (2) (3) (4)
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Re: Totalenergies To Exit Nigerian Onshore Oil Business by TheBillyonaire: 12:14pm On Feb 10 |
forgiveness: Any buyer that is not indigenous to Niger Delta will still run, cos it is not their home. Any Niger Deltan owned company that buys the stakes and does not clean up their places, we will visit their families and extended relates and teach them a lesson. They can not run away. I am all for Equities being handed over to host communities with a clear road map and monitoring & supervision by the Feds. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by oyebanji(m): 12:14pm On Feb 10 |
Why didn't they divest their gas assets too? Racoon: |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Acidosis(m): 12:15pm On Feb 10 |
forgiveness: A simple Google search and a few minutes would save you this public embarrassment. For the sake of your children, go and study the HSE policies of Total Energy. I'm sure you won't find stuff like ransom for kidnapping, payment for bandits, weekly payment for community and asari thugs, and so on. 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by forgiveness: 12:18pm On Feb 10 |
TheBillyonaire: Walter Smith is an indigenous company though but I don't know if the owner is from Niger Delta. 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by forgiveness: 12:20pm On Feb 10 |
Acidosis: That total are angles that came to develop your country. Stop fooling yourself. French companies are leeches. You don't have any idea. Keep being deluded with total side of the story. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by TheBillyonaire: 12:22pm On Feb 10 |
SoNature: I should not quarrel because the international smuggling cartels are conniving with some of our corrupt brokers to break pipelines and pump the crude to barges? How much are they making? Are you away that this is done with knowledge of Executives of the Oil companies because they do not want to account to FG? Like I said, it is not your community, so you can be logical with zero emotion, but I have 14 oil wells at my backyard and it is my home being polluted so I have the right to quarrel and fight those who depend on us to live in pollution to power Nigeria and their international criminal partners. Do not tell me to be calm. 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by obesse: 12:23pm On Feb 10 |
sulaak:The same West you go cap-in-hand to borrow high-interest loans from, with a promise to pay back with crude oil worth 500% of the original value? |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by cucumbar: 12:29pm On Feb 10 |
forgiveness:Dey play.. which laws Dey to check dem? Some of you will never get sense in this life and in the life to come. 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by tctrills: 12:33pm On Feb 10 |
forgiveness:Oga I would try to educate you but I know you are a block head. Now Total's onshore reserves are over 150 million barrels. At present oil price of about $70 per barrel, the value of their reserves is over 7 billion dollars. Now they sell their facility at less than a billion dollars. I am sure even a block head will understand this simple mathematics. 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by forgiveness: 12:34pm On Feb 10 |
cucumbar: If you have, you would had known the new Petroleum bill passed into law but no. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Sundaymosez: 12:34pm On Feb 10 |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by forgiveness: 12:36pm On Feb 10 |
tctrills: Where did they sell for lesser? Show me proof. Bloody liar. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by LucemFerre: 12:36pm On Feb 10 |
Shoprite make thesame mouth. Clear road a beg dem no dey go anywhere. 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Konquest: 12:44pm On Feb 10 |
Amotolongbo:TotalEnergies are exiting the onshore production to focus on the more PROFITABLE and productive deep offshore oil and gas exploration and production. They are NOT leaving Nigeria. It's all about global efficiency. The onshore oil fields and other assets have been sold to indigenous oil firms. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by tctrills: 12:45pm On Feb 10 |
forgiveness:Oga, how much are they selling for. Now you need me to show you proof because you refused to study for yourself. Now please research on the SPDC. Totalenergies has 10% of it and are selling their 10% . Do your research and then we can discuss like 2 educated people. Find out the following, 1. What's the total oil reserve of the SPDC? 2. What percentage does Total own? 3. How much is Total selling their stake? Hint, you can tell how much total is selling but looking at how much Shell sold off their 30% stake. I am sure this is super complex for you so just leave this for the people that understand. This vid below would help you understand better https://youtu.be/y3enB_J0WCU?si=VihRUZO7B-Sjx2aY |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Tenumootito: 1:05pm On Feb 10 |
It's a good news. They don't want Nigeria to have her refinery functional because of the huge forex all these companies earn. Let them go, how I wish top shot in total that are Nigerians can team up and acquire it. It is time we Nigerians takes our destinies serious, all these foreign companies are here to use the nation and dump it. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Ckonnet: 1:05pm On Feb 10 |
forgiveness: Agbadorians are irredeemable!!! |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by theamazonguru(m): 1:05pm On Feb 10 |
The environmental factors surrounding their operations onshore is no longer favourable to them. Talk of oil theft from their pipelines. Pipeline vandalism. Environmental pollution arising from pipeline vandalism,yet they are made to take responsibility for the cleanup and hefty fines imposed on them to serve as deterrent. The problems posed by the militants also is another ball game entirely. The wahala associated with operating onshore assets is just numerous. Compared to what obtains offshore. For instance, last month there was an oil spillage that happened offshore in one of the assets operated by one of the multinationals. No one got to hear about it in the national newspapers or social media. It was kept under wraps. If that spillage happened onshore, I am sure the company could have gone almost bankrupt, due to the fines and penalty they will incur. The bottom line is everywhere is looking out for his profit margin. It's a case of put your money where your mouth is. I can tell you confidently that there departure has nothing to do with Tinubu government. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Ckonnet: 1:06pm On Feb 10 |
forgiveness: You need brain surgery, it is clogged with garbage! |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by ComeToJesus: 1:10pm On Feb 10 |
Racoon: Let me use one of my Mum's proverbs to throw some light. There's a particular game/bush meat that after hunting, it is slaughtered and barbecued. In the process of roasting, somebody pointed out that the meat is getting burnt. Another man countered, that it's fat that is getting burnt. Before long, it's discovered that everything is already up in smoke. That is the situation of Nigeria. Little by little, or, like they say in music,poco a poco, the multinationals are exiting.. Nigeria is gradually getting reduced to rural economy. As it presently stands, no one can re-engineer Nigeria to function. She is designed to fail. The present structure and staus-quo has to give way for a restructured system that allows the federating parts to look inward and redefine their identities and function as a unit. Meanwhile, APC's paid online voltrons will always try to twist the narrative. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Ckonnet: 1:13pm On Feb 10 |
theamazonguru: The problem with single celled organisms is that they think everyone is like them and you spitted alot of garbage out there just to defend your little god. Total didn't leave when militancy, vandalism and other nonsense you mentioned there was at its peak. For your info, multi nationals forecast their business strategies ahead of time and work with it so now they understand that idiots are at the helm of affairs and they will wake up one day and churn out stupid policies like they do now without considering the consequences. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Konquest: 1:27pm On Feb 10 |
pocom16:Let me step into your convo here. Point of correction. The Ikorodu, Lagos indigene, Mrs. Folorunso Alakija was NOT an "ordinary" tailor. She was a banker with IMB which was based on Victoria Island just near the Bar beach. I remember back in the 1980s when she left the banking sector to concentrate on raising her young children, she revolutionized the fashion industry by starting the fashion business outfit called "Supreme Stitches" which had high-end folks in the society as clients, including Maryam Babangida, General IBB's wife. Mrs. Alakija was a deeply connected woman being from a wealthy Ijebu-Yoruba family (the Ogbara family) from Ikorodu. I remember her Ikeja, Lagos-based company adverts were in magazines and newspapers and her brand was hugely popular alongside that of the iconic David Kolawole Vaughan (DAKOVA) back in the 1980s. Second, in 1993 when she and some members of her family applied for the deep offshore licence, the savvy woman took a very big risk because NOT all oil wells produce oil and gas in commercial quantities. She was able to get foreign technical partners and that's how they struck oil at Agbami. I still have the 1993 Guardian newspaper articles and other documents listing the full names of all the Nigerians who bidded for oil blocks in the very risky deep offshore oil blocks in my archives. Other guys who got oil prospecting licences did NOT even strike oil or they struck oil and gas that was NOT of commercial quantity. The Ibadan-born, Nigerian-American billionaire oil and gas mogul Kase Lawal and the M.K.O Abiola family through Summit Oil did not find significant oil and gas of commercial quantity while prospecting for oil. The Borno-born Alhaji Mohammed Indimi, Dr. Mike Adenuga, the late Ijaw High Chief Benson Lulu-Briggs who owned Moni Pulo Limited, Mrs. Folorunso Alakija, Arthur Eze, Chief Tunde J. Afolabi the Chairman/CEO of Amni International Petroleum Development Company Ltd, etc, were some of the fortunate people among the 1990 to 1993 set of deep offshore oil block owners who struck oil and gas in commercial quantities within 4 years of oil prospecting and oil mining. (Dr. Mike Adenuga was the first Nigerian whose indigenous oil firm CONOIL struck oil and gas after getting his oil block in 1990). So, credit must be given to the business savvy Mrs. Folorunso Alakija, (the UK-trained secretary, banker, and super-fashion designer), for having the boldness to take the risk to get Famfa Oil among the indigenous deep offshore companies. Last but not least, TotalEnergies are NOT leaving Nigeria, they have only divested their onshore assets to concentrate on the more LUCRATIVE deep offshore just like other oil majors such as Shell, Mobil, Agip, etc, are doing. More that 90 percent of those responding to this topic are deeply and embarrassingly ignorant about the thrust of this article because as usual they don't read to understand, and stupidly started insulting the President of Nigeria thinking that TotalEnergies have left Nigeria finally. The OP himself did NOT help matters because he misled many posters and readers into thinking that TotalEnergies have left Nigeria. This is far from the truth! They are only concentrating on the risky but profitable offshore exploration and production for now. Period. 1 Like 1 Share |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Laopangjiaspice: 1:56pm On Feb 10 |
Racoon: ARE THEY GOING TO RETURN ALL THE PROFITS THEY HAVE MADE OVER THE YEARS? JUST ASKING |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by amadiama(m): 1:58pm On Feb 10 |
The indegenious companies will buy this onshore facilities and start paying the workers peanuts, oil industry don cast...black man is the problem of Blackman.. 1 Like 1 Share |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by sulaak(m): 2:19pm On Feb 10 |
obesse: Why are you linking me to the poor decision of Tinubu government. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by tete7000(m): 4:06pm On Feb 10 |
forgiveness: So you think Nigeria has laws? You must be deceiving yourself. If people come into your country and behave anyhow and go scout free, it is either you don't have laws or you don't have the means to enforce the laws you assume you have. It is more about you than it is about those who take advantage of clumsiness in your system. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by tnerro1(m): 4:39pm On Feb 10 |
Please sell to an indigenous company |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by toujurs: 5:13pm On Feb 10 |
Amotolongbo:Are you now mute? ππ. May God punish you and your house hold. For this calmity you support. If you we're sensible, you should have asked yourself, if the igbo's had supported any candidate like this ever in the history of Nigeria. I don't think there is any divided tribe like the igbo's, this is because it's all man for himself, but tribalism was your agenda. I have Yoruba friends, and i support their business, with non interest loans, because they made the right choice. During the election. But you see those yoruba Muslims, God will punish all of them. All of you that supported this administration, The universe and karma will Bleep you all up. This is the only country we have, and you all chose ethnicity over reliability. God will punish you in particular. This mandate will choke you to depression, this is just the 9th month, 8years stil awaits ππππ€‘π€‘ 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by 123papas(m): 6:29pm On Feb 10 |
You are making assumptions. Total Energies is a responsible company. Let's see if the Nigerian companies will do any better environmentally. forgiveness: |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Amotolongbo(f): 6:41pm On Feb 10 |
toujurs:You need anti rabies. Dog has bitten you. You think what is happening in Nigeria has any effect on me? Can you bring out my post where I supported Tinubu? 1 Like |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by toujurs: 7:06pm On Feb 10 |
Amotolongbo:πππ. Oh you now deny the mandate. Anyways I don't blame you. It's typical. |
Re: Totalenergies To Exit Nigerian Onshore Oil Business by Amotolongbo(f): 7:33pm On Feb 10 |
toujurs:Dig out my post supporting APC or Tinubu before the election. Is it too hard for you? 1 Like |
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