deomelo:



Brainless afonja is the reason why you are so lazy and incompetent to show us facts that your village bottler made Jacob's Creek wine?

See how retarded you sound?

You know you liked and this is the reason why you are unable to show us proof.


It's one thing to lie, but hiding under stupidity and idiocy shows how dispicable some of you are.

All this long story just to gain my attention, sorry I don't engage fools.

laudate:
[s]

Do you know your problem? You have very little knowledge of the oil industry, and the companies whose assets you are trying to use to score cheap points. You are using an outdated document to try and look good. Unfortunately, you have shot yourself in the foot again.

Have you heard of Agbami oil field? Well, it is one of the most prolific fields in the offshore areas of Nigeria. Guess what? It is owned by Famfa oil. And Famfa Oil is owned by the Alakijas (i.e. Folorunsho Alakija and her husband Modu Alakija). They have signed a technical services agreement with Chevron to help them operate that field. It is for the same Agbami, that an FPSO contract was issued to Samsung & Ladol. That FPSO will store the oil being produced from Agbami.

Now, shey you are still following the tutorial? Agbami oil field better known as OML127, currently produces over 200,000 barrels per day. Compare that with the 77,000 barrels per day, that Aiteo currently produces. Now, let me ask you a little question. Between Famfa and Aiteo, which one produces a greater amount of oil? [/s]

Afonjas no go kill person just imagine your source according to fool.com.uk

[s]

Doublecheck:


Olodo don't you have sense, it means Ladol Egina project is not wholly indigenous but partnership between Ladol and SHI. Olodo.

[/s]



Ignorant Igbos. So, companies are not indegenou when they parner with outside investors?


So, if Don Jazzy team up with foreign investors to build the largest studio in Nigeria, it means Marvin is no longer an indegenous company?


Is Dangote no longer an indegenous company because they team up with foreign patners to build the largest refinery in Africa.


Why are you people so mentally warped and inept?

Doublecheck:


All this long story just to gain my attention, sorry I don't engage fools.

I want your silly attention, but you are the one quoting me left and right with your lame and Ignorant rubbish?


Do you clowns even read the dumb and childish nonsense before posting.


All because you lied and shame is killing you..

What a loser.

laudate:

I was faster than you, ok after your first post that included your source, you now cut your source for me not to see

FKO81:

Afonjas no go kill person just imagine your source according to fool.com.uk

No, fool.co.uk is NOT my source. Go back & read my post carefully. My source is http://venturesafrica.com/the-richest-black-woman-in-the-world-folorunsho-alakija/. A link to the Supreme Court judgement in which Famfa was awarded the oil block is even included on that page. Pls do yourself a favour and read up that article, as quickly as possible.

And if you click on the link in that screenshot, you will find that fool.co.uk is actually the website of a group of UK-based stock analysts known as The Motley Fools. Their aim is to simplify stocks and share prices as well as financial info., in such a simple way, that even a 'fool,' can understand it. Please check their website. www.fool.co.uk;

FKO81:
Data Appraisal Co. Ltd
DACL is an affiliate of Brittania-U Group with focus in subsurface engineering.
Dacl
Seismic data
DACL’s operations are fully automated with all the modern facilities and technologies needed for comprehensive oil and energy appraisal – from engineering to static modeling through dynamics to complete field appraisal, DACL was established to provide energy companies, including Brittania-U, technology and knowledge driven subsurface Engineering services.

With a team of experienced professionals, DACL enables companies to optimize exploitation of its assets at reduced costs, as well as provide them with the needed team of data analysts, geologists and engineers needed to run successful appraisal programs.

Due to the spare capacity and level of experience of Principals, the concept of Data Appraisal Company was able to utilize spare capacity in this area for clients and was able to sustain the high caliber of Nigerian professionals available to achieve Brittania-U growth aspirations. The company successfully appraised the mapping as well as identified the new coordinates for our new successful well completed in 2013 in collaboration with Schlumberger group. The appraisal discovered a new, previously unmapped zone. The team of seasoned geologists and petroleum engineers are poised to provide quality services to clients in and out of Nigeria. The management is exploring partnerships with companies with similar ethical and professional values.
Scope of services provided by DACL includes:

Geological and Geophysical Studies

Seismic Data Quality Control
Geophysical & Geological Interpretation
Integrated G & G Studies
Static Modeling
Workstation Services

3D Geological & reservoir Static Modeling

Extensive experience with Petrel
Integration of Petrophysics, Geological, Geophysics, and Well Engineering data
Stochastic modeling

Reservoir Engineering

Field Development planning
Depletion Performance prediction
Water-flooding
EOR studies & Miscible flooding
Material Blance using MBALTM
3DStatic Modeling: PETRELTM
Reservoir Simulation usin black oil, composition or thermal in IMEXTM Eclipse TM

Technology and Systems

Seismic Interpretation Workstations – Open Works
Petrophysics Workstation – Powerlog & Interactive Petrophysics
Geological Modeling Worksation – Petrel
Reservoir Modeling Workstation – Eclipse
Petroleum Egineering Analysis using : MBAL, PROSPER, WELFLO,FORRGAS, PIE, MONTE CARLO

The DACL sub-surface engineering group is the first of its kind to be owned by indigenous Oil and Gas Company. The company has all the latest software and services that any international company can provide.

u repeat nestle oil and others u forgot innoson, ibeto, emzor that re always on top of your repeated pictures from Page1 to 77

laudate:


No, fool.co.uk is NOT my source. Go back & read my post carefully. My source is http://venturesafrica.com/the-richest-black-woman-in-the-world-folorunsho-alakija/. A link to the Supreme Court judgement in which Famfa was awarded the oil block is even included on that page. Pls do yourself a favour and read up that article, as quickly as possible.

This is your first post which I captured, you then cut out your source fool.com.uk

laudate:


No, fool.co.uk is NOT my source. Go back & read my post carefully. My source is http://venturesafrica.com/the-richest-black-woman-in-the-world-folorunsho-alakija/. A link to the Supreme Court judgement in which Famfa was awarded the oil block is even included on that page. Pls do yourself a favour and read up that article, as quickly as possible.

Guy, you get patience sha, to dey engage that numbskull. Truth is that he knows he's dead wrong but will keep finding stupid, petty, foolish excuses in order to continue arguing blindly. He will wear you out with his annoying penchant for displaying his tomfoolery and signature stupidity. The ironic thing is that your source sef (ventures Africa) is owned and operated by his kinsmen. I've had the unpleasant experience of engaging him on a few occasions and I tell you, his mental deficiency is second to none. Very useless boy he is.

FKO81:

I was faster than you, ok after your first post that included your source, you now cut your source for me not to see

No, the source was cut out because I had to reduce the size of that screenshot, in order to enable the page to upload faster. Now, have you read the article at the Ventures Africa link? Pls do so, and share your findings with us.

As for the fool.co.uk, I have already explained it, in my previous post. But let me repeat it again because I know, you are too slow to understand things.

If you click on the link in that screenshot, you will find that www.fool.co.uk is actually the website of a group of UK-based stock analysts known as The Motley Fools. Their aim is to simplify stocks and share prices as well as financial info., in such a simple way, that even a 'fool,' can understand it. Please check their website. www.fool.co.uk;

laudate:


No, fool.co.uk is NOT my source. Go back & read my post carefully. My source is http://venturesafrica.com/the-richest-black-woman-in-the-world-folorunsho-alakija/. A link to the Supreme Court judgement in which Famfa was awarded the oil block is even included on that page. Pls do yourself a favour and read up that article, as quickly as possible.

And if you click on the link in that screenshot, you will find that fool.co.uk is actually the website of a group of UK-based stock analysts known as The Motley Fools. Their aim is to simplify stocks and share prices as well as financial info., in such a simple way, that even a 'fool,' can understand it. Please check their website. www.fool.co.uk;

Lol. See how he embarrassed himself again? He's too ignorant to know about the famous Motley Fools. He prolly thought it was a prank website or something. Guy, you dey try o.

ODVanguard:


Guy, you get patience sha, to dey engage that numbskull. Truth is that he knows he's dead wrong but will keep finding stupid, petty, foolish excuses in order to continue arguing blindly. He will wear you out with his annoying penchant for displaying his tomfoolery and signature stupidity. The ironic thing is that your source sef (ventures Africa) is owned and operated by his kinsmen. I've had the unpleasant experience of engaging him on a few occasions and I tell you, he's mental deficiency is second to none. Very useless boy he is.

Exactly!!


This is how they play their idiotic game.

http://www.vanguardngr.com/2017/04/nigerias-indigenous-oil-operators-plan-increase-production-60-percent-2018/

Nigeria’s indigenous oil operators plan to increase production by 60 percent in 2018
On April 4, 20174:41 am output to hit 500,000bpd

Indigenous companies in Nigeria have concluded plans to increase oil production by 60 per cent at end 2018. This is expected to increase their collective output from the current 313, 602 barrels per day (bpd) to 500,000 bpd in 2018.

This will also enable them to increase their contribution to the nation’s daily output from 10 per cent to 20 per cent, leaving 80 per cent to the International Oil Companies, IOCs, that currently produce 90 per cent of Nigeria’s total output.

Current output breakdown showed that Aiteo, Eroton, NPDC, Oriental, Seplat produce 77,000 barrels per day, bpd 54,000 bpd, 42,654 bpd, 24, 000bpd, and 21,881bpd respectively.

Newcross, Midwestern, Belemaoil, Amni, Conoil, Niger Delta, Walter Smith and Erin Energy produce 20,000 bpd, 13,000 bpd, 12,000 bpd, 11, 000 bpd, 9, 130 bpd, 7,000 bpd, 5, 837 bpd and 5,000 bpd.

Others – Energia, Moni Pulo, Prime Energy, Platform and Pillar Oil – also produce 4,500 bpd, 3, 200 bpd, I, 200 bpd, 1, 100 bpd and 1, 100 bpd respectively.

Investigations showed that the companies have intensified efforts in developing their assets to produce more in future.

The Managing Director of Energia Limited, Mr. Felix Amieyeofori indicated in an exclusive interview that Energia started as a consortium of leading Nigerian service and technology providers who came together with little cash but with great personnel, equipment and services to work, thus culminating to the production of first oil.

“Energia currently has the capacity to produce 7, 000 bpd but is looking forward to producing 15, 000 bpd in near future, hopefully as we resume full production and injection through Forcados terminal. Generally, we would want to participate in bidding for new oil blocks once the bid is out. We would want to grow,”~ he stated.

The Managing Director of the Niger Delta Petroleum Company Plc, Dr. Layi Fatona, disclosed that the company is currently producing 7, 000 bpd.

He said that the company has done more, considering that it produces nearly 45mm Scf/d gas from the Ogbele Field, and about 10,000 bpd and 260 mm Scf/d of gas from the OML-34 JV.

Fatona indicated that in the short term, the company plans to remain relevant in a nimble way, within the Nigerian exploration and production patch.

He disclosed that as for the medium term, the company will like to become an attractive investment vehicle, which is able to grow with steady injection of new capital periodically for each of outlined phases of growth.

Fatona said that the company would seek to develop existing portfolio of assets.

He said that as for the long term, the company will in a sustainable way; evolve as a Pan African Integrated Energy Development company.

Aiteo disclosed that is aggressively pursuing exploration and production. Africa is the next growth frontier and is central to our vision and ambitions for the future.

The company indicated that it sees opportunities where others do not look, and employ expertise and innovation to turn opportunity into rewarding reality.

It stated that the deep water basins off the shores of West Africa represent an important source of new oil at a time when many conventional sources are becoming more challenging to develop.

The company noted that it may not be easy to realize the full potential of West Africa’s offshore fields, from the Niger Delta to the Benin Basin to the west, but the rewards for doing so are significant.

According to Aiteo, deep water exploration is expected to take Nigeria’s proven oil reserves above 40 billion barrels by the middle of the decade, while retrieval of the valuable commodity could bring this figure back down to less than 28 billion barrels by 2021.

“We aim to work tirelessly across the upstream market, in both exploration and retrieval, so that our future discoveries add to the known oil reserves of the African continent as a whole and support the oil industry for the long term, while our work to tap into already-known reservoirs of oil increases output in the short term, bolstering Nigeria and other African countries’ positions as world leaders in oil production.~

“Nigeria is Africa’s largest oil producer and, in global terms, ranks 11th, with an output of around 2.45 million barrels per day. However, an increase in output of 500,000 barrels per day could take it to 7th worldwide, ahead of Mexico and the United Arab Emirates; output growth of 1 million barrels per day would put it close to Canada with nearly 3.5 million barrels of daily oil production,” the company explained.

But many problems may hinder, as Energia boss indicated that insecurity and militancy are major problems that constrain operations.

He said that others include unstable oil price occasioned by shale oil and oil supply glut, inadequate funding, illiquidity, foreign exchange dilemma and delay in the passage of the nation’s Petroleum Industry Bill, PIB.

The Managing Director of Seplat Petroleum Development Company, Mr. Austin Avuru, had predicted that the indigenous companies will also produce about 1.5billion Cubic Feet of gas daily in 2018.

laudate:


No, the source was cut out because I had to reduce the size of that screenshot, in order to enable the page to upload faster. Now, have you read the article at the Ventures Africa link? Pls do so, and share your findings with us.

As for the fool.co.uk, I have already explained it, in my previous post. But let me repeat it again because I know, you are too slow to understand things.

If you click on the link in that screenshot, you will find that www.fool.co.uk is actually the website of a group of UK-based stock analysts known as The Motley Fools. Their aim is to simplify stocks and share prices as well as financial info., in such a simple way, that even a 'fool,' can understand it. Please check their website. www.fool.co.uk;

FKO81, see as you just they disgrace yourself.. .

Omofunaab2:



FKO81, see as you just they disgrace yourself.. .

I love the minds game let us stick to our main discussions not fool.com.uk

http://www.vanguardngr.com/2017/04/nigerias-indigenous-oil-operators-plan-increase-production-60-percent-2018/

Nigeria’s indigenous oil operators plan to increase production by 60 percent in 2018
On April 4, 20174:41 am output to hit 500,000bpd

Indigenous companies in Nigeria have concluded plans to increase oil production by 60 per cent at end 2018. This is expected to increase their collective output from the current 313, 602 barrels per day (bpd) to 500,000 bpd in 2018.

This will also enable them to increase their contribution to the nation’s daily output from 10 per cent to 20 per cent, leaving 80 per cent to the International Oil Companies, IOCs, that currently produce 90 per cent of Nigeria’s total output.

Current output breakdown showed that Aiteo, Eroton, NPDC, Oriental, Seplat produce 77,000 barrels per day, bpd 54,000 bpd, 42,654 bpd, 24, 000bpd, and 21,881bpd respectively.

Newcross, Midwestern, Belemaoil, Amni, Conoil, Niger Delta, Walter Smith and Erin Energy produce 20,000 bpd, 13,000 bpd, 12,000 bpd, 11, 000 bpd, 9, 130 bpd, 7,000 bpd, 5, 837 bpd and 5,000 bpd.

Others – Energia, Moni Pulo, Prime Energy, Platform and Pillar Oil – also produce 4,500 bpd, 3, 200 bpd, I, 200 bpd, 1, 100 bpd and 1, 100 bpd respectively.

Investigations showed that the companies have intensified efforts in developing their assets to produce more in future.

The Managing Director of Energia Limited, Mr. Felix Amieyeofori indicated in an exclusive interview that Energia started as a consortium of leading Nigerian service and technology providers who came together with little cash but with great personnel, equipment and services to work, thus culminating to the production of first oil.

“Energia currently has the capacity to produce 7, 000 bpd but is looking forward to producing 15, 000 bpd in near future, hopefully as we resume full production and injection through Forcados terminal. Generally, we would want to participate in bidding for new oil blocks once the bid is out. We would want to grow,”~ he stated.

The Managing Director of the Niger Delta Petroleum Company Plc, Dr. Layi Fatona, disclosed that the company is currently producing 7, 000 bpd.

He said that the company has done more, considering that it produces nearly 45mm Scf/d gas from the Ogbele Field, and about 10,000 bpd and 260 mm Scf/d of gas from the OML-34 JV.

Fatona indicated that in the short term, the company plans to remain relevant in a nimble way, within the Nigerian exploration and production patch.

He disclosed that as for the medium term, the company will like to become an attractive investment vehicle, which is able to grow with steady injection of new capital periodically for each of outlined phases of growth.

Fatona said that the company would seek to develop existing portfolio of assets.

He said that as for the long term, the company will in a sustainable way; evolve as a Pan African Integrated Energy Development company.

Aiteo disclosed that is aggressively pursuing exploration and production. Africa is the next growth frontier and is central to our vision and ambitions for the future.

The company indicated that it sees opportunities where others do not look, and employ expertise and innovation to turn opportunity into rewarding reality.

It stated that the deep water basins off the shores of West Africa represent an important source of new oil at a time when many conventional sources are becoming more challenging to develop.

The company noted that it may not be easy to realize the full potential of West Africa’s offshore fields, from the Niger Delta to the Benin Basin to the west, but the rewards for doing so are significant.

According to Aiteo, deep water exploration is expected to take Nigeria’s proven oil reserves above 40 billion barrels by the middle of the decade, while retrieval of the valuable commodity could bring this figure back down to less than 28 billion barrels by 2021.

“We aim to work tirelessly across the upstream market, in both exploration and retrieval, so that our future discoveries add to the known oil reserves of the African continent as a whole and support the oil industry for the long term, while our work to tap into already-known reservoirs of oil increases output in the short term, bolstering Nigeria and other African countries’ positions as world leaders in oil production.~

“Nigeria is Africa’s largest oil producer and, in global terms, ranks 11th, with an output of around 2.45 million barrels per day. However, an increase in output of 500,000 barrels per day could take it to 7th worldwide, ahead of Mexico and the United Arab Emirates; output growth of 1 million barrels per day would put it close to Canada with nearly 3.5 million barrels of daily oil production,” the company explained.

But many problems may hinder, as Energia boss indicated that insecurity and militancy are major problems that constrain operations.

He said that others include unstable oil price occasioned by shale oil and oil supply glut, inadequate funding, illiquidity, foreign exchange dilemma and delay in the passage of the nation’s Petroleum Industry Bill, PIB.

The Managing Director of Seplat Petroleum Development Company, Mr. Austin Avuru, had predicted that the indigenous companies will also produce about 1.5billion Cubic Feet of gas daily in 2018.

deomelo:
[s][/s]



Ignorant Igbos. So, companies are not indegenou when they parner with outside investors?


So, if Don Jazzy team up with foreign investors to build the largest studio in Nigeria, it means Marvin is no longer an indegenous company?


Is Dangote no longer an indegenous company because they team up with foreign patners to build the largest refinery in Africa.


Why are you people so mentally warped and inept?

Just the first line and all these errors and blunders, do you actually expect me to read through and respond to your illiteracy? I am already disappointed FKO81 is engaging your kind with reason. If only he knew he would not bother.

FKO81 you are helping Afonjas derail your own thread, some of us who have companies to post are waiting for you to finish with your derailment or how many more pages will it take? Afonjas know what they are doing but you have no idea what they are making you do, keep helping them stall our thread o, I say Wehdon sir.

FKO81:


I love the minds game let us stick to our main discussions not fool.com.uk

.

The Lagos-based pan-African oil and gas operator controls interests in both the upstream and downstream sector of Nigeria’s oil industry, with operations cutting across exploration and production to refining and marketing. It is ranked Nigeria’s largest indigenous oil firm with market estimated to be in the region of $1 billion.


http://venturesafrica.com/oando-sells-gas-business-to-seven-energy-for-250m/

You can somersault and cut and paste all the meaningless and irrelevant rubbish you want, Oando is still the largest oil company in Nigeria with the largest revenue.



CASE CLOSED.

Doublecheck:


Just the first line and all these errors and blunders, do you actually expect me to read through and respond to your illiteracy? I am already disappointed FKO81 is engaging your kind with reason. If only he knew he would not bother.

Ignorant Igbos. So, companies are not indegenou when they parner with outside investors?


So, if Don Jazzy team up with foreign investors to build the largest studio in Nigeria, it means Marvin is no longer an indegenous company?


Is Dangote no longer an indigenous company because they team up with foreign partners to build the largest refinery in Africa.


Why are you people so mentally warped and inept?

Doublecheck:
FKO81 you are helping Afonjas derail your own thread, some of us who have companies to post are waiting for you to finish with your derailment or how many more pages will it take? Afonjas know what they are doing but you have no idea what they are making you do, keep helping them stall our thread o, I say Wehdon sir.

Coming from the same lair posting fake and fraudulent rubbish to derail the same thread,


You're derailing your own thread because we are here fact checking your lies and fraudulent claims.


If you want us gone, stop lying.

deomelo:




Ignorant Igbos. So, companies are not indegenou when they parner with outside investors?


So, if Don Jazzy team up with foreign investors to build the largest studio in Nigeria, it means Marvin is no longer an indegenous company?


Is Dangote no longer an indigenous company because they team up with foreign partners to build the largest refinery in Africa.


Why are you people so mentally warped and inept?

Scratched faced Afonja are you not supposed to be giving your mother head tonight so it can aid her sleep disorder.?

deomelo:





Coming from the same lair posting fake and fraudulent rubbish to derail the same thread,


You're derailing your own thread because we are here fact checking your lies and fraudulent claims.


If you want us gone, stop lying.

Have you checked your mothers ass for farts this night?

Doublecheck:


Scratched faced Afonja are you not supposed to be giving your mother head tonight so it can aid her sleep disorder.?

deomelo:




Shut your lying and stealing mouth. No such license was given to your village cock and bottle company and that product is not even part of their mediocre selection.

http://www.easterndistilleries.com



That's their website and they have everything they bottle so show us where they also bottle Jacob's creek wine.



And while you are at it, also show us the ones they make in SA and the UK.



I know you are a liar and a troll so I'm 100% sure you won't show us any proof or facts and it's going to be the same retarded hiding under insults and your Afonja rubbish because you know you lied.


I don't even get why you people must lie lie over every damn thing, I mean, how dishonest can you people be.

Look at the red highlight.

Sadly for you, I know you very well and I was expecting you to lie because I know how you operate hence saying I'm 100% sure you won't come clean.

When you get caught lying, you sink down to insults and idiotic rants.

Fckukk off.

Disgusting liar.

deomelo:








Look at the red highlight.

Sadly for you, I know very well and I was expecting you to lie because I know how you operate hence saying I'm 100% sure you won't come clean.

When you get caught lying, you sink down to insults and idiotic rants.

Fckukk off.

Disgusting liar.

Disgusting was the exact word your father used when he saw your mothers cherry pot.

Doublecheck:


Disgusting was the exact word your father used when he saw your mothers cherry pot.

lmao.


Is the highlighted where you sink into when caught line.


Disgusting and dishonest lair.

Doublecheck:
Brandy, dry gin, spirit, wine all made by Igbo's not packaged or marketed by Igbo's but made and packaged by Igbo's


www.nairaland.com/attachments/5787674_8f19c03b96a24cff88e9a428bd2123a922400000033ab83d207_jpeg1cfd3621412afeb8f84303d17707fcd1

Made by ibo in

Barossa Valley Way,
Rowland Flat,
5352, South Australia,
Australia.



lmao....


Den don take lying and stealing swear for you people I swear....

deomelo:







You can somersault and cut and paste all the meaningless and irrelevant rubbish you want, Oando is still the largest oil company in Nigeria with the largest revenue.



CASE CLOSED.

I guess you will understate Yoruba media better http://tribuneonlineng.com/aiteo-consolidate-fgs-2-5mbd-target-2020/

Aiteo to consolidate FG’s 2.5mb/d target by 2020

There are strong indications that leading indigenous oil companies may be ready to play vital roles in Federal Government’s aspiration to achieve its target of 2.5million barrels per day (mb/d) by the year 2020.

According to the Economic Recovery and Growth Plan (ERGP) of the Federal Government, the nation plans to reach 2.2 million barrels per day (mb/d) output while also targeting 2.5mb/d by the year 2020.

Currently, the country is producing an average of 1.8mb/p due to shut down of some oil installations like Bonga (maintenance), Forcadoes pipeline (militancy attack) and others.

However, from all indications, one of leading indigenous exploration and production companies, Aiteo Eastern Exploration and Production (Aiteo E&P), a member of Aiteo Group, is set to consolidate its

position and play a major role in achieving the target of 2.5mb/d by the federal government.

Prior to the signing of Nigerian Content Act in 2010, most indigenous players were operating in service providers in the upstream space of the oil and gas sector. However, today, indigenous companies like

Aiteo, Seplat, Oando and Newcross are dominant players in the upstream sector

Infact, Aiteo, Eroton and Newcross collectively produced up to 200,000bpd in the fourth quarter of 2016. The trio took over assets worth $4.1billion from Shell, Total and Eni between 2004 and 2005.
A figure of that size used to be attributed to the oil majors in the past. But that may not be the case for much longer, considering that the smaller players have been making strides to finance and increase

the size of their portfolios.

This is a revolutionary development considering that before now, the industry had been dominated by International Oil Companies (IOCs) listed by Forbes in 2016 as some of the biggest oil companies in the

world.

However, industry stakeholders opined that Aiteo is tipped to be one of the major players in the industry going by its antecedents. The company discovers, produces, stores and delivers energy resources to marketplaces worldwide, and is currently working on developing energy resources in some of the world’s most significant basins. According to a financial analyst, Patrick Atuanya, “I am optimistic about the prospects of indigenous players, particularly their tenacity in the face of challenging macro-economic headwinds. Aiteo is among the other indigenous players that will play a major role in helping the government to achieve its goal of 2.5mb/d by the year 2020; considering that the company just began full operations in May 2015.

“Within that timeframe, it won the bid for the 45 per cent total interest in OML 18, previously held by oil majors Shell Petroleum Development Company, Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited.

“It’s a remarkable feat for any indigenous Nigerian firm to be growing oil production amid the downturn in oil prices. Most majors have cut capital expenditure (capex) and written down the value of or sold assets for those heavily indebted.

“With indigenous firms accounting for approximately 12 per cent of Nigeria’s 1.8million bpd total oil production, it means Aiteo Group is responsible for some 42 per cent of total indigenous production.”

An Energy Analyst, James Udeme, stated that “indigenous operators were able to play dominant role in upstream sector because they have been able to poach top talent from IOCs and are excellently run. This has contributed positively towards increasing the percentage of Nigerian production coming from local operators.”

The company’s main subsidiary, Aiteo Eastern Exploration and Production, operates on the resource-rich OML 29, which Aiteo acquired from Shell Petroleum Development Company in September 2015. At that

time, production was around 23,000bpd. By October 2016, figures from the NNPC showed that production had risen by 300 per cent to 90,000bpd. Aiteo Eastern E &P also operates the 97km Nembe Creek Trunk Line, an evacuation pipeline that covers Nigeria’s eastern Delta region. It is Nigeria’s major onshore pipeline, with a capacity of 600,000bpd.

https://newtelegraphonline.com/2017/04/local-oil-firms-walking-tight-rope/

Aiteo, an indigenous oil firm, made the headlines penultimate week; basking in the euphoria of its new status as the biggest Nigerian- owned oil firm in terms of production, hitherto known by many as the petroleum product trading firm, it announced the production of the largest share of the 313,602 barrels per day output from indigenous companies.

The firm’s management cannot be blamed for flaunting its new status as the oil industry is battling with cash crunch and little or nothing was expected from the local firms who are the worse-hit by the crisis.

Aiteo is not alone, a few other firms put up sterling performances, even though they still ranked far below the 77,000 barrels per day production figure of Aiteo . The sad aspect is that tens of indigenous firms are faced with bankruptcy while their productions are near to nothing.

Investing in Nigeria’s future

On April 1, 2015, the media was awash with news that the ownership of OML 29 had been formally transferred from Shell Petroleum Development Company (SPDC) to Aiteo Group.

This information was dismissed by many industry watchers and stakeholders, considering that the divestment programme of the oil major, Shell Petroleum Development Company (SPDC), had not been without controversies and rumours of litigations.

On the other hand, IOCs, which have indelibly etched their names in gold and local investors who play big globally had not only shown keen interest in the divestment offer, they had submitted seemingly irresistible bids to corner it.

As such, Aiteo Group was not reckoned with by bookmakers. But a document by Aiteo revealed: “But with conviction in its impeccable track record of safe, reliable and environmentally conscious energy development and a clear vision for the future, Aiteo snapped up a 45per cent stake in one of Nigeria’s largest onshore oil blocks, in addition to the Nembe Creek Trunk Line, which marked a turning point in oil and gas business in Nigeria. Thus, Aiteo secured the potential to hold as much as 300 million cubic feet of gas and 2.2 billion barrels of oil.

“From when they first indicated interest in the lease, the owners and managers of Aiteo Group were unmistakable about their commitment and bold ambition to be a major part of the world’s energy solution.

The march towards that global vision was gradual, steady and without any publicity stunts. The leadership, management and staff of Aiteo rolled up their sleeves and went to work in silence.

The result of those quiet efforts came out resoundingly when, a few days ago, Aiteo Eastern Exploration and Production Company Limited (AEEPCo) announced a peak production of 90,000 barrels per day less than one year into the operatorship of the reputedly largest onshore oil bloc OML 29.

Agog with excitement hidden beneath journalistic curiosity, pressmen have lately turned the headquarters of the integrated energy company to a Mecca of some sort, as they besiege its officials to know how Aiteo has been able to break into the league of big players within such a short period.

This is no mean feat when considering that SPDC could barely produce 23,000bpd prior to the divestment.

“Top among Aiteo’s landmark achievements since its foray into the upstream sector is the production of 90,000bpd. In 2016, the company traded petroleum products worth over $11 billion.

Only recently, it announced a further $4 billion medium-term investment aimed at boosting both gas and oil output by, amongst other tactics, bolstering infrastructure asset.”

Aiteo, the document explained, has not only risen to be Nigeria’s largest indigenous oil producers with ownership and operation of petroleum storage facilities in Lagos and Port-Harcourt, including the Abonnema Storage Terminal with total capacity of over 110 million litres, the company also holds the second spot in petroleum products tankage in Nigeria.

FKO81:


I guess you will understate Yoruba media better http://tribuneonlineng.com/aiteo-consolidate-fgs-2-5mbd-target-2020/

Aiteo to consolidate FG’s 2.5mb/d target by 2020

The Lagos-based pan-African oil and gas operator controls interests in both the upstream and downstream sector of Nigeria’s oil industry, with operations cutting across exploration and production to refining and marketing. It is ranked Nigeria’s largest indigenous oil firm with market estimated to be in the region of $1 billion.


http://venturesafrica.com/oando-sells-gas-business-to-seven-energy-for-250m/

You can somersault and cut and paste all the meaningless and irrelevant rubbish you want, Oando is still the largest oil company in Nigeria with the largest revenue.



CASE CLOSED.

deomelo:



lmao.


Is the highlighted where you sink into when caught line.


Disgusting and dishonest lair.

You might not know this but your mother has quick sand between her thighs, you can ask your father to confirm this.

The only one who sinks is your father when he tries to have a good time with your mom .

deomelo:








[s]You can somersault and cut and paste all the meaningless and irrelevant rubbish you want, Oando is still the largest oil company in Nigeria with the largest revenue.
[/s]

E-go.a...t I know you will not sleep well tonight

Aiteo, the document explained, has not only risen to be Nigeria’s largest indigenous oil producers with ownership and operation of petroleum storage facilities in Lagos and Port-Harcourt, including the Abonnema Storage Terminal with total capacity of over 110 million litres, the company also holds the second spot in petroleum products tankage in Nigeria.[/b]

[s]

FKO81:

E-go.a...t I know you will not sleep well tonight

Aiteo, the document explained, has not only risen to be [b]Nigeria’s largest indigenous oil producers with ownership and operation of petroleum storage facilities in Lagos and Port-Harcourt, including the Abonnema Storage Terminal with total capacity of over 110 million litres, the company also holds the second spot in petroleum products tankage in Nigeria.[/b]

[/s]





Abeg post their revenue here make we see ..


I'm 100% sure the clown won't post anything and instead go just dance around like a clown.



lmao....useless joker.