₦airaland Forum

HesInMe:
Hmmm... Where is this info, please?

Agbalowomeri:
Would you now say Zenith bank is a bargain at current price? BV of 0.5 is rightly priced. I won't be surprised to see Zenith at 35 before year end

Raider76:
The following is from Meta AI:

The Pointe-a-Pierre Refinery, also known as the Pierre Refinery, is located in Trinidad and Tobago. It was once the country's largest refinery, operating for over 100 years before its closure in 2018 ¹.

The refinery was initially built by Trinidad Leaseholds Ltd in 1917, with a production capacity of 75,000 barrels of oil per day. Over the years, it underwent several upgrades and expansions, including a major refurbishment that took seven years to complete and was officially opened in 2000 ².

At its peak, the refinery had a capacity of 190,000 barrels per day and was equipped to produce various petroleum products, including liquid petroleum gases, unleaded motor gasoline, and aviation gasoline ¹. However, due to significant financial losses, lack of competitiveness, and declining production, the Trinidad and Tobago government announced its closure in 2018, resulting in approximately 5,500 job losses ¹.

Since its closure, there have been efforts to sell the refinery, with the Trinidad and Tobago government negotiating with potential buyers.

Agbalowomeri:
Would you now say Zenith bank is a bargain at current price? BV of 0.5 is rightly priced. I won't be surprised to see Zenith at 35 before year end

PuristForest:
oando is not done yet guys, zenith headed for 39...

Valthegreat:
My only interest here is the 5,500 jobs a third world country will export to a second world country despite having a better comparative advantage in the sector in question.
It is only when Nigerians ( both leaders and the led) start reasoning like that in all our decisions that we can have a country but for now oke n'ohia ngwere n'uzo.

Valthegreat:
You mean down to #39 for real?

GeeKudi:
Just imagine OANDO getting the nod to run any of Nigerian refineries? The noise, the protest, the cries!
Even with a refinery in a far away country, Nigerians are still insinuating corruption.

GeeKudi:
Just imagine OANDO getting the nod to run any of Nigerian refineries? The noise, the protest, the cries!
Even with a refinery in a far away country, Nigerians are still insinuating corruption.

Bagwa:
https://www.cnc3.co.tt/nigerian-company-oando-plc-is-preferred-bidder-for-refinery/

GeeKudi:
Just imagine OANDO getting the nod to run any of Nigerian refineries? The noise, the protest, the cries!
Even with a refinery in a far away country, Nigerians are still insinuating corruption.

megawealth01:
Exactly. The bitter TRUTH 💯

Although Wale gets his own for him body but to be fair to Oando. The coy seems to be on the right track...

Note

I'm heavily loaded in Oando and MIGHT wait it out until JAGABANomics is done with the presidency

KarlTom:
Another drama unfolding
https://www.cnc3.co.tt/kamla-unc-wont-honour-any-refinery-deal-the-pnm-signs/

KarlTom:
Another drama unfolding
https://www.cnc3.co.tt/kamla-unc-wont-honour-any-refinery-deal-the-pnm-signs/

"However, noting issues with the arrangement, Persad-Bissessar said, “The entire country knows that this disposal of the refinery on the eve of a general election is a last-gasp corrupt deal to fill the pockets of this outgoing government."

“This is the third time this Government has found disreputable (sic) persons to gift the refinery. The first were two electricians in a storefront in the US called Quanten LLC, then corruption-accused Jindal and now corruption-plagued Oando,” she alleged."

“The UNC will not honour any agreement that this Government enters into regarding the Pointe-a-Pierre refinery and we guarantee that the UNC will pursue investigations against everyone who participates in this theft of the refinery assets.”

BabsO2:
How profitable is this refinery sef. Refineries usually have low margins. An old one like this will have very low margins. Or is the TT government giving special concessions like paying ops fees even if it operates at a loss, otherwise it doesn’t look attractive to me.

KarlTom:
Another drama unfolding
https://www.cnc3.co.tt/kamla-unc-wont-honour-any-refinery-deal-the-pnm-signs/

"However, noting issues with the arrangement, Persad-Bissessar said, “The entire country knows that this disposal of the refinery on the eve of a general election is a last-gasp corrupt deal to fill the pockets of this outgoing government."

“This is the third time this Government has found disreputable (sic) persons to gift the refinery. The first were two electricians in a storefront in the US called Quanten LLC, then corruption-accused Jindal and now corruption-plagued Oando,” she alleged."

“The UNC will not honour any agreement that this Government enters into regarding the Pointe-a-Pierre refinery and we guarantee that the UNC will pursue investigations against everyone who participates in this theft of the refinery assets.”

megawealth01:
Exactly. The bitter TRUTH 💯

Although Wale gets his own for him body but to be fair to Oando. The coy seems to be on the right track...

Note

I'm heavily loaded in Oando and MIGHT wait it out until JAGABANomics is done with the presidency

BabsO2:
How profitable is this refinery sef. Refineries usually have low margins. An old one like this will have very low margins. Or is the TT government giving special concessions like paying ops fees even if it operates at a loss, otherwise it doesn’t look attractive to me.

mikeapollo:
Refineries outside an integrated framework may have low margins.
But this would be refinery to be owned and operated by an integrated oil and gas exploration and production company.
It is like a refinery run by integrated oil and gas majors like Mobil, Shell, Chevron etc. Such refineries would perform better than the ones owned by a non-integrated oil and gas companies, because of potential savings from economies of scale, transfer pricing, benefits of value chain, logistics, certainty of supplies, pricing etc.
Again, Oando would be selling most of its refined products offshore for dollars

mikeapollo:
Refineries outside an integrated framework may have low margins.
But this would be refinery to be owned and operated by an integrated oil and gas exploration and production company.
It is like a refinery run by integrated oil and gas majors like Mobil, Shell, Chevron etc. Such refineries would perform better than the ones owned by a non-integrated oil and gas companies, because of potential savings from economies of scale, transfer pricing, benefits of value chain, logistics, certainty of supplies, pricing, economies of scope etc.
Again, Oando would be selling most of its refined products offshore for dollars

BabsO2:
.

I have read in the past of oil majors like those you mentioned talking about low margins for their refineries. That is despite all their years of experience in the refinery space. Not to talk of Oando that ain’t got years of experience. Perhaps the oil majors offer fat staff salaries and Oando will save some costs here by offering lower wages. Even at that margins being low is a refinery thing compared to oil exploration and production.

Sunrisepebble:
How do we even judge Oando’s ability to operate this refinery well?
I only found out recently that the upstream assets the company has they were not operator, it’s only with the recent NAOC acquisition that they took on operator status. Not to say they can’t do a good job or have the capacity but don’t a lot of risks come with that?

lionshare:
Who else got this?

mikeapollo:
Don't you think what may be considered ''low margins'' by those big guys (Mobil, Shell, Chevron, etc) could make a big difference for Oando?

Sunrisepebble:
How do we even judge Oando’s ability to operate this refinery well?
I only found out recently that the upstream assets the company has they were not operator, it’s only with the recent NAOC acquisition that they took on operator status. Not to say they can’t do a good job or have the capacity but don’t a lot of risks come with that?

megawealth01:
If my source is correct UNITY BANK should be trading by Mid-March-early April depending on the regulatory authority's speed in finalizing what's before them. Their AGM is MARCH 19 according to my source and it's virtual