Buhari will go down in history as the first Nigeria's President to do three terms in office... wailers can continue wailing, ain't nothing they can do about it.

omenka:
Expect the cries of secession to increase three folds. These are the people sponsoring all that nonsense in the hope of distracting the government and ultimately crystalising chaos which would ensure they keep making abominable profits at the expense of the common man. They see Baba as a threat to their control of the levers of our polity/economy and would do anything, regardless of its propriety, to ensure they perpetually lord it over us.

Toss a few change here and there they would, and the same people we saw yelling GEJ till thy Kingdom come would be the ones shouting Biafra!!

#OnlyTimeWillTell.

Great comment

modath:


Long overdue sef...

It was never done for the good of the common man, it was just patronage for cronies & political associates..

I remember when the Indian ambassador cried out at some points over such shady deals. The Indian govt needed to buy our crude and, they met diezani for this. All she could do then was to direct them to come through a third pparty which the Indians objected cos they know such procedure leads to bribe taking.

The ambassador even went on to say that, of over 20 countries they have done such deals with, Nigeria is the only one involving a third party, instead of a government-government transaction.


We applaud this step taken by kachikwu.

cirmuell:
Buhari will go down in history as the first Nigeria's President to do three terms in office... wailers can continue wailing, ain't nothing they can do about it.

BUHARI till 2027 by God's grace. By then he would be 85 , but we will ask him to declare a football age of 60.

BALLOSKI:
BUHARI till 2027 by God's grace. By then he would be 85 , but we will ask him to declare a football age of 60.

Wailers will bite you today..

modath:


Wailers will bite you today..

they can't bite elephant-like skin.

BALLOSKI:
BUHARI till 2027 by God's grace. By then he would be 85 , but we will ask him to declare a football age of 60.

He'll be 130 years by then

omenka:
Expect the cries of secession to increase three folds. These are the people sponsoring all that nonsense in the hope of distracting the government and ultimately crystalising chaos which would ensure they keep making abominable profits at the expense of the common man. They see Baba as a threat to their control of the levers of our polity/economy and would do anything, regardless of its propriety, to ensure they perpetually lord it over us.

Toss a few change here and there they would, and the same people we saw yelling GEJ till thy Kingdom come would be the ones shouting Biafra!!

#OnlyTimeWillTell.

So all Igbos, excluding you were sponsors of the nefarious activities which were part and parcel of the NNPC. There is something really seriously wrong with you.

Oyind17:

He'll be 130 years by then

that's a negative football age you have given him there. We want a positive one.

BALLOSKI:
I remember when the Indian ambassador cried out at some points over such shady deals. The Indian govt needed to buy our crude and, they met diezani for this. All she could do then was to direct them to come through a third pparty which the Indians objected cos they know such procedure leads to bribe taking.

The ambassador even went on to say that, of over 20 countries they have done such deals with, Nigeria is the only one involving a third party, instead of a government-government transaction.


We applaud this step taken by kachikwu.

The Indian high commissioner is a liar and is intending to become beneficiary of whatever scam this government will perpetuate, right under your ignorant nose. Let's not kid ourselves.

BALLOSKI:
that's a negative football age you have given him there. We want a positive one.

He is about 100years old now

hinwazaka:

The Indian high commissioner is a liar and is intending to become beneficiary of whatever scam this government will perpetuate, right under your ignorant nose. Let's not kid ourselves.

they don't need anything of such. They have other places to get whatever they want from, and it must not come from Nigeria only.

Let Diezani come out and deny that allegation, and not you doing it blindly for her.

Oyind17:

He is about 100years old now

he's 200 years old.

Wait o, No wailer don come this thread? Abi them don blind all of a suden?

Ok let me help them. It was GEJ that did it. Its GEJ's achievement. You remember when GEJ visited PMB recently? That was what he went and tell him.


Thank me wailers.




signed, cheif wailer

hinwazaka:

So all Igbos, excluding you were sponsors of the nefarious activities which were part and parcel of the NNPC. There is something really seriously wrong with you.

Mumu. Who says ALL IGBOS are the ones sold to that nonsense

By the way, I'm not Igbo- never said I am.

Something is critically wrong with you.

BALLOSKI:
they don't need anything of such. They have other places to get whatever they want from, and it must not come from Nigeria only.

Let Diezani come out and deny that allegation, and not you doing it blindly for her.

Ofcourse India don't need our oil. They rather purchase Brent crude from the Arabs which is more expensive.

hinwazaka:

Ofcourse India don't need our oil. They rather purchase Brent crude from the Arabs which is more expensive.

it's even more cheaper to buy from the black market these days. Do u know how much ISIL sell theirs? $28!$28! So India doesn't need Nigeria right now.

omenka:
Mumu. Who says ALL IGBOS are the ones sold to that nonsense

By the way, I'm not Igbo- never said I am.

Something is critically wrong with you.

maybe your moniker sound appear igbotic to him.

BALLOSKI:
it's even more cheaper to buy from the black market these days. Do u know how much ISIL sell theirs? $28!$28! So India doesn't need Nigeria right now.

Yes, ISIL will last forever.

Keneking:
Lalasticlala.......great move

- This is a shock to those 44 companies.

- Nigerians would enjoy low and fluctuating costs of PMS, DPK and AGO moving forward.

- We should expect PMS prices to be as low as N40-N45/litre.

- Nigeria would be free from subsidy payments and we can channel the funds for other developmental purposes.

- Chai, more middlemen in oil business to lose their jobs.

- Rich men would soon understand the impact of this decision by December and January.

- Stealing and corruption in that sector would reduce by more than 70%.

- Ibe Kachikwu would be missed as the key that reformed NNPC.

- God Bless PMB

I tried so hard to stay away from this section, but my curiosity got the better of me. Why does NNPC like talking from both sides of its mouth?? In NNPC Corporate department, they have always had a Crude Marketing Dept, headed by a Group General Manager (GGM). Who were they selling Nigeria's crude to??

In PPMC, which is a subsidiary of NNPC, they have always had a Commercial Sales Dept which handled importation and distribution of refined products. Who were they importing from??

The truth is that it would be almost impossible for NNPC to sell its crude directly to end users without having to go through some of these oil traders, from time to time. A few foreign countries even have standing agreements with some foreign mega oil traders like Vitol, Oryx, Trafigura etc and would direct you to liaise with them, if you want to sell to their country. Apart from this, issues like credit terms, bureaucracy etc., would make it difficult to conclude spot transactions concerning oil sales, without involving oil traders who have liquid cash and logistic arrangements through which they can easily make payment for oil products, and cut through irrelevant red tape.

Secondly, NNPC went on air to make this announcement and showcase all the different bids it had received, along with the bidders. 80% of those who bidded for NNPC's crude as well as the importation of refined products were local oil traders, and not even end users like foreign refineries or energy ministries of different countries. What does that tell you? They still have a long way to go.

The important thing is to use oil traders or firms that are established and well structured, and stop all these fly-by-night allocations (to import fuel and sell crude) to cronies and friends that do not even have a petrol station, talk less of owning an oil depot.

NNPC needs to have a clear direction on what it intends to do, going forward. They should stop playing to the gallery. Will it be selling directly to foreign refineries or foreign state govt? Will it focus on long term contracts exclusively, or would it have a mix of long and short-term contracts?? What would be the criteria for buying and selling Nigeria's oil, or importing fuel into the country?? All these need to be spelt out clearly. And until I see this...sorry, I will not be moved by their grandstanding.

Finally, as long as your country still keeps devaluing its Naira, or as long as forex fluctuations of the Naira to the dollar remains high...then sorry, petrol will never fall to =N=40 per litre, except if local refining capacity can be increased to 80% - 90%.

hinwazaka:

Yes, ISIL will last forever.

your prayer? Ok, the thing is about taking advantage of the situation at hand. It's not about ISIL lasting forever, it's about gaining from the situation. If ISIL is no more, they will device other means.

laudate:


I tried so hard to stay away from this section, but my curiosity got the better of me. Why does NNPC like talking from both sides of its mouth?? In NNPC Corporate department, they have always had a Crude Marketing Dept, headed by a Group General Manager (GGM). Who were they selling Nigeria's crude to??

In PPMC, which is a subsidiary of NNPC, they have always had a Commercial Sales Dept which handled importation and distribution of refined products. Who were they importing from??

The truth is that it would be almost impossible for NNPC to sell its crude directly to end users without having to go through some of these oil traders, from time to time. A few foreign countries even have standing agreements with some foreign mega oil traders like Vitol, Oryx, Trafigura etc and would direct you to liaise with them, if you want to sell to their country. Apart from this, issues like credit terms, bureaucracy etc., would make it difficult to conclude spot transactions concerning oil sales, without involving oil traders who have liquid cash and logistic arrangements through which they can easily make payment for oil products, and cut through irrelevant red tape.

Secondly, NNPC went on air to make this announcement and showcase all the different bids it had received, along with the bidders. 80% of those who bidded for NNPC's crude as well as the importation of refined products were local oil traders, and not even end users like foreign refineries or energy ministries of different countries. What does that tell you? They still have a long way to go.

The important thing is to use oil traders or firms that are established and well structured, and stop all these fly-by-night allocations (to import fuel and sell crude) to cronies and friends that do not even have a petrol station, talk less of owning an oil depot.

NNPC needs to have a clear direction on what it intends to do, going forward. They should stop playing to the gallery. Will it be selling directly to foreign refineries or foreign state govt? Will it focus on long term contracts exclusively, or would it have a mix of long and short-term contracts?? What would be the criteria for buying and selling Nigeria's oil, or importing fuel into the country?? All these need to be spelt out clearly. And until I see this...sorry, I will not be moved by their grandstanding.

Finally, as long as your country still keeps devaluing its Naira, or as long as forex fluctuations of the Naira to the dollar remains high...then sorry, petrol will never fall to =N=40 per litre, except if local refining capacity can be increased to 80% - 90%.

I think this statement below has addressed your fear.

She disclosed that companies that stand a better chance of winning the contracts are those who have refineries, affiliations to refineries or access to refineries.
She stated that the NNPC, through this arrangement, plans to eliminate third party, adding that the companies would be expected to show agreements that have been signed with refineries.

BALLOSKI:

I think this statement below has addressed your fear.

Ok, thanks. I am in the middle of something. But I will be back to address this.

laudate:


Ok, thanks. I am in the middle of something. But I will be back to address this.

will be expecting your deep insight like the first one I quoted .

BALLOSKI:


I think this statement below has addressed your fear.

No mind that person. They hardly read the whole article before commenting.

kokoA:
No mind that person. They hardly read the whole article before commenting.

I guess he was more interested in the post by the poster he quoted, hence, his reaction.

BALLOSKI:

I think this statement below has addressed your fear.

BALLOSKI:
She disclosed that companies that stand a better chance of winning the contracts are those who have refineries, affiliations to refineries or access to refineries.
She stated that the NNPC, through this arrangement, plans to eliminate third party, adding that the companies would be expected to show agreements that have been signed with refineries.

Alright, lets us start with this criteria. Refining companies who bid are likely to get a contract for off-shore processing of crude from NNPC, right? No problem with that. The only thing is that refining companies are spoilt for choice. They can get crude from pretty much every country they want, so they do not have problems in this area. Some refineries have been set up to process heavy crude, so Nigeria's light Bonny crude will not appeal to them.

Second, are those firms that are 'affiliates of refineries'. Is NNPC talking about subsidiaries of refineries, or members of a group/holding company who also have a refinery as part of their assets? You would find groups like ExxonMobil in this category.

ExxonMobil Torrance Refinery in the US processes an average of 155,000 barrels of crude oil per day and produces 1.8 billion gallons of gasoline per year. ExxonMobil's Joliet Refinery handles 250,000 barrels of crude per day and produces approximately 9 million gallons of gasoline and diesel fuel every day. The oil firm also has the Altona Refinery in Australia which produces up to 13 million litres of refined products per day - enough to fill more than 300,000 cars. In short, Mobil has 37 refineries in 21 different countries worldwide.

Total also falls into this category. It has refineries in South Africa, France, Belgium etc. In other countries, it holds stakes in the ownership of existing refineries (e.g. with Saudi Arabia's Aramco in the Gulf region). Shell also has major refining capacity in many parts of the world.

So if Nigeria decides to sell its crude directly to such major oil firms, there should be no issues.

But the third bit is the one that gives room for concern (i.e. access to refineries). If NNPC insists on using this criteria, it can never eliminate 3rd parties. Why? These 3rd parties such as our local oil traders, know that all it takes to sign an agreement with an oil refinery is just a bit of cash, and some negotiations of terms and conditions.

In Ivory Coast, there is a small 68,000 barrels/per day refinery located in Abidjan. Do you know how many local Nigerian oil traders have signed up with them to buy fuel from their tanks? Once these local traders brandish such papers to NNPC, then they would get signed on to lift crude. What is the guarantee that such crude would eventually end up in Abidjan refinery?? A lot of fuel as well as diesel sold in Lagos, actually comes from this refinery which is just about 48 hours away by sea. And many of our local traders just store the diesel on board vessels outside the bar off the coast of the city, and bring it in whenever they need supplies.

In the process a lot of sharp practices went on, under the fuel subsidy payment regime under GEJ/NOI/Diezani. How will NNPC curb this?? It needs to say so clearly. That 3rd criteria of access to refineries should either be scrapped, or replaced with a proviso that they should show evidence of building modular refineries in-country, within a specific or limited period of time. And they should ensure that this proviso is strictly enforced.

laudate:


Alright, lets us start with this criteria. Refining companies who bid are likely to get a contract for off-shore processing of crude from NNPC, right? No problem with that. The only thing is that refining companies are spoilt for choice. They can get crude from pretty much every country they want, so they do not have problems in this area. Some refineries have been set up to process heavy crude, so Nigeria's light Bonny crude will not appeal to them.

Second, are those firms that are 'affiliates of refineries'. Is NNPC talking about subsidiaries of refineries, or members of a group/holding company who also have a refinery as part of their assets? You would find groups like ExxonMobil in this category.

ExxonMobil Torrance Refinery in the US processes an average of 155,000 barrels of crude oil per day and produces 1.8 billion gallons of gasoline per year. ExxonMobil's Joliet Refinery handles 250,000 barrels of crude per day and produces approximately 9 million gallons of gasoline and diesel fuel every day. The oil firm also has the Altona Refinery in Australia which produces up to 13 million litres of refined products per day - enough to fill more than 300,000 cars. In short, Mobil has 37 refineries in 21 different countries worldwide.

Total also falls into this category. It has refineries in South Africa, France, Belgium etc. In other countries, it holds stakes in the ownership of existing refineries (e.g. with Saudi Arabia's Aramco in the Gulf region). Shell also has major refining capacity in many parts of the world.

So if Nigeria decides to sell its crude directly to such major oil firms, there should be no issues.

But the third bit is the one that gives room for concern (i.e. access to refineries). If NNPC insists on using this criteria, it can never eliminate 3rd parties. Why? These 3rd parties such as our local oil traders, know that all it takes to sign an agreement with an oil refinery is just a bit of cash, and some negotiations of terms and conditions.

In Ivory Coast, there is a small 68,000 barrels/per day refinery located in Abidjan. Do you know how many local Nigerian oil traders have signed up with them to buy fuel from their tanks? Once these local traders brandish such papers to NNPC, then they would get signed on to lift crude. What is the guarantee that such crude would eventually end up in Abidjan refinery?? A lot of fuel as well as diesel sold in Lagos, actually comes from this refinery which is just about 48 hours away by sea. And many of our local traders just store the diesel on board vessels outside the bar off the coast of the city, and bring it in whenever they need supplies.

In the process a lot of sharp practices went on, under the fuel subsidy payment regime under GEJ/NOI/Diezani. How will NNPC curb this?? It needs to say so clearly. That 3rd criteria of access to refineries should either be scrapped, or replaced with a proviso that they should show evidence of building modular refineries in-country, within a specific or limited period of time. And they should ensure that this proviso is strictly enforced.

this is why I said I was looking forward to your insightful contribution.


To be honest with you , I found more reason to learn from this post above than having to counter it. Maybe it's because I read geology in the university - you can understand my inclination.


Again, I want to know how possible it's for those crooks to present papers of their affiliatelion to a certain refinery in ivory coast and have things worked out for them at nnpc like it used to be? They have some blacklisted refineries who helped in refining stolen crude from Nigeria, so that one in cote d'ivore should be there among the blacklisted ones and considering what you stated above, they should be.

If owning a modular refinery is another criteria for getting off, doyiu know how many Nigerians own this outside of this country? Or are they going to claim ownership of such refinery overnight simply because we have a new policy in place? I guess Kachikwu knows those that have the capacity and requisite know-how when they call for bidding, himself having been in the system for such a long time.

laudate:

...

But the third bit is the one that gives room for concern (i.e. access to refineries). If NNPC insists on using this criteria, it can never eliminate 3rd parties. Why? These 3rd parties such as our local oil traders, know that all it takes to sign an agreement with an oil refinery is just a bit of cash, and some negotiations of terms and conditions.

In Ivory Coast, there is a small 68,000 barrels/per day refinery located in Abidjan. Do you know how many local Nigerian oil traders have signed up with them to buy fuel from their tanks? Once these local traders brandish such papers to NNPC, then they would get signed on to lift crude. What is the guarantee that such crude would eventually end up in Abidjan refinery?? A lot of fuel as well as diesel sold in Lagos, actually comes from this refinery which is just about 48 hours away by sea. And many of our local traders just store the diesel on board vessels outside the bar off the coast of the city, and bring it in whenever they need supplies.

In the process a lot of sharp practices went on, under the fuel subsidy payment regime under GEJ/NOI/Diezani. How will NNPC curb this?? It needs to say so clearly. That 3rd criteria of access to refineries should either be scrapped, or replaced with a proviso that they should show evidence of building modular refineries in-country, within a specific or limited period of time. And they should ensure that this proviso is strictly enforced.

Point, well noted. You've done well to reveal the loopholes within the third criterion.

modath:


Long overdue sef...

It was never done for the good of the common man, it was just patronage for cronies & political associates..



Cc: passingshot , omenka, midolian, beremx, egift, sammyj, laudate, seunmsg , gbawe , Ngenekwenu, balloski, rawani, sandraokosun ,MayorofLagos, Aareonakakanfo , zimoni et al

My dear lady, we dealt with the same issue on the thread below. long overdue indeed as you conclude. PDP and the leaders it foisted on Nigeria really destroyed our nation.

https://www.nairaland.com/2711734/nigeria-sell-buy-oil-directly

Aareonakakanfo:
@modath,that's a brilliant move.This is what intelligent people were advising Mr "grey cap" to do, instead he was thinking about how to get another term.Otondo

Indeed. GEJ was in bed with everything/everyone that harmed or showed a readiness to harm Nigeria seriously. The guy was nothing short of evil, because of the extremely wicked looting of Nigeria he supervised, and I would like to believe those who hail his name today are merely brainwashed and not as wicked as Jonathan was/is.