₦airaland Forum

Come to think of it.

What does the future hold for the younger generation of this country.

What would be left, after the looting and reckless mis management of the country's financial resources.

some people did not read the long news ooo.
But after reading other people's comment that will now know what to comment

After they will say I use to read news.
Stop confusing your self,you are reading comment

Sellfish:
The Lawyers representing Nigeria in that case right now....

The originals.... I remember this scene... I even re watched it..

[quote author= post=81937544]GOD SAVE NIGERIA!

[/quote]Confessing to the helplessness and hopelessness of El Dullardino of Aso Rock


www.nairaland.com/attachments/6267651_1510641139934_jpege8dffaed6f52da138b21556e4465e5b5

Ikpeazukerosene:
Just so you know, Dieziani Jonathan's concubine was once a director in Shell.

In 2006, she was appointed a director in Shell. She subsequently became a Minister under Jonathan. In 2011, Shell got that judgment against the NNPC.

Please stop following barawo bubu blindly so you can read and understand OPs clearly before you embarrass yourself.

References:
According to court papers, the 1993 contract anticipated that Exxon and Shell affiliates would invest billions of dollars to extract oil from the Erha field, about 60 miles (97 km) off Nigeria’s coast, and share profits with NNPC.

But the affiliates, Esso Exploration and Production Nigeria Ltd and Shell Nigeria Exploration and Production Co Ltd, accused NNPC of unilaterally “lifting” more oil than was contractually allowed, at the behest of Nigeria’s government, depriving them of billions of dollars of oil.

Pauley said Exxon and Shell still have “multiple appeals pending” in Nigeria, and rejected their argument that it might be difficult to collect there.

All of these countries and companies especially shell sponsored Nigeria and helped Nigeria fight Biafra because of the oil, they are did it for their personal gain, so Nigeria shouldn't complain when they mention those big figures

Ikpeazukerosene:
Just so you know, Dieziani Jonathan's concubine was once a director in Shell.

In 2006, she was appointed a director in Shell. She subsequently became a Minister under Jonathan. In 2011, Shell got that judgment against the NNPC.

what was her position at Shell in 1993

anonimi:
Please stop following barawo bubu blindly so you can read and understand OPs clearly before you embarrass yourself.

Anonimi, I have told you to stop advertising your ignorance. You know nothing about the legal process you're a curse to Pdp. You are bereft of legal knowledge and you should shut up.

The contract was entered to in 93 but the suspicious judgment was gotten after the thief had become a director in Shell. Now, the initiation of proceedings and weakening of FG position was ensured when she was already the Minister of that sector.

Keep to posting pictures like a dyslexic kid and don't quote me to talk trash.

StrikeBack:
If you investigate the wealth of many wealthy Nigerians you'd be shocked.


Nigeria is Corruption,
Corruption is Nigeria

Whoever claims he/she is a billionaire in Nigeria is a criminal. I will recommend this book for you to get an idea of how African wealth is being looted by foreigners in collaboration with their African partners;"The Looting machine by Bourg Tom".

RZArecta2:
what was her position at Shell in 1993

Please mention me whenever he answers.
Thanks.

RZArecta2:
what was her position at Shell in 1993

What was her position as at:
1. When the matter was instituted?
2. When Shell was given judgment?

The idea is to make money off litigation. If GEJ had continued till 2019, Nigeria would have paid these sums.

References:
In a case that bears some resemblance to P&ID $9.6b claims against Nigeria, a U.S. judge on Wednesday rejected Exxon Mobil Corp’s and Royal Dutch Shell Plc’s effort to revive a $1.8 billion arbitration award against the Nigerian National Petroleum Corporation, NNPC.

The case stemmed from a dispute over a 1993 contract to extract oil near Nigeria’s coastline.

U.S. District Judge William Pauley in Manhattan cited public policy and due process considerations in deciding not to enforce the October 2011 award against Nigerian National Petroleum Corp (NNPC), which was subsequently set aside by courts in Nigeria.

“While this court may have inherent authority to fashion appropriate relief in certain circumstances, exercising that authority to create a $1.8 billion judgment is a bridge too far,” Pauley wrote in a 50-page decision.

The companies said last November that the award had grown to $2.67 billion, including interest.

Exxon, Shell and their respective lawyers did not immediately respond to requests for comment.

“NNPC is very pleased with the decision, and was always confident that there was no basis for a U.S. court to confirm the award,” its lawyer Cecilia Moss said in an interview.

According to court papers, the 1993 contract anticipated that Exxon and Shell affiliates would invest billions of dollars to extract oil from the Erha field, about 60 miles (97 km) off Nigeria’s coast, and share profits with NNPC.

But the affiliates, Esso Exploration and Production Nigeria Ltd and Shell Nigeria Exploration and Production Co Ltd, accused NNPC of unilaterally “lifting” more oil than was contractually allowed, at the behest of Nigeria’s government, depriving them of billions of dollars of oil.

Pauley said Exxon and Shell still have “multiple appeals pending” in Nigeria, and rejected their argument that it might be difficult to collect there.

Exxon and Shell “executed a contract in Nigeria with another Nigerian corporation containing an arbitration clause requiring any arbitration to be held in Nigeria under Nigerian law, and it then sought to confirm the award in Nigeria,” Pauley wrote. “[They] cannot now reasonably complain that [their] efforts to collect will be frustrated in Nigeria.”

In an Aug. 7 regulatory filing, Exxon said it did not expect the case to materially affect its operations or financial condition.

The case is Esso Exploration and Production Nigeria Ltd et al v Nigerian National Petroleum Corp, U.S. District Court, Southern District of New York, No. 14-08445.

https://www.pmnewsnigeria.com/2019/09/04/nigeria-escapes-from-another-1-8b-arbitration-award/

PRESIDENT MUHAMMADU BUHARI WILL NOT GO AND PLAN WITH HIS ATTORNEY GENERAL, MINISTER OF JUSTICE AND FINANCE MINISTER ON WAYS TO PROTECT NIGERIA FROM THIS SWORD HANGING OVER THE COUNTRY NECK.

He is busy using Efcc to be traumatized the opposition, yahoo boys, Bobrisky etc.

Americans are much smarter than the Brit’s. They know this company’s hand no clean. Should Nigeria look into their activities, they will not come out unscathed and it may affect the oil supply. Nigeria will just hold them for corrupt practices which I am 100% sure our greedy officials have done a lot with them in the past.

anonimi:
Confessing to the helplessness and hopelessness of El Dullardino of Aso Rock


www.nairaland.com/attachments/6267651_1510641139934_jpege8dffaed6f52da138b21556e4465e5b5

Hate Buhari all you want, it is your inalienable right. However, cut the man some slack for uncovering this heists and fighting hard to make sure that the country does not pay some dubious contractors and their collaborators.

Now, if you ask me if I am completely happy with Buhari, it will be a capital NO.

But the truth is that, with respect to PID and this other case mentioned herein, the government of the day has acted reasonably.

Politics must be set aside when the need arises in the interest of the nation at large.

These guys are simply crazy, so Nigeria has suddenly turned to an ATM for them.
Nonsense and nonsense.

-----------------------------------------------------------
Check my signature.
#Wafo is alive
#If you were born poor it is not your fault, but if you remain and die poor, NA YOUR FAULT.
#join me IN WAFO.

teepain:
Hate Buhari all you want, it is your inalienable right. However, cut the man some slack for uncovering this heists and fighting hard to make sure that the country does not pay some dubious contractors and their collaborators.

Now, if you ask me if I am completely happy with Buhari, it will be a capital NO.

But the truth is that, with respect to PID and this other case mentioned herein, the government of the day has acted reasonably.

Politics must be set aside when the need arises in the interest of the nation at large.

Acted reasonably by neglecting the P&ID case after being sworn in and with no ministers for six months then offering $600 million that was rejected. All of which has made the amount balloon and now doing their usual propaganda to save face?
How does all that amount to acting reasonably please

$9.6b judgment: How P&ID snubbed Buhari’s $600m offer

According to the fact-sheet, President Muhammadu Buhari and Vice-President Yemi Osinbajo separately approved negotiation with Messrs Process and Industrial Developments (P&ID) after the Arbitration Tribunal awarded $6.597billion to the company. The two leaders at various times offered $250million and an improved offer of $600million to the Irish company.

The Vice President gave the approval on April 18, 2017, following the recommendations of the Attorney-General of the Federation (AGF) and Minister of Justice, Mallam Abubakar Malami (SAN), which included a negotiation with P&ID.

Also, President Muhammadu Buhari directed the Federal Government’s team to meet with P&ID counsel on July 12 and 13 in New York.

Based on Osinbajo’s approval, the AGF and the then Minister of State for Petroleum Resources Dr. Ibe Kachikwu, and a delegation along with counsel Chief Bolaji Ayorinde, SAN, on May 16, 2017, met with representatives of P & ID and its counsel to negotiate the judgment debt.

The government team initially on May 16, 2017 succeeded in negotiating the judgment debt from $8.4billion, to which it had risen, to $600million.

But P & ID rejected the offer on the grounds that what was agreed on to be executed was a Draft Stay of Enforcement Agreement and not a Settlement Agreement as proposed by the Federal Government.

The Federal Government offered $250million which P&ID rejected.

The document said although a former Attorney-General of the Federation, Mr. Mohammed Bello Adoke (SAN), recommended an amicable settlement with P&ID, the “ proposed settlement broke down.”

The government said the “settlement could not be reached before the time for report of settlement elapsed, therefore proceedings resumed at the Tribunal for determination.”

https://www.pmnewsnigeria.com/2019/09/02/9-6b-judgment-how-pid-snubbed-buharis-600m-offer/

anonimi:
Acted reasonably by neglecting the P&ID case after being sworn in and with no ministers for six months then offering $600 million that was rejected. All of which has made the amount balloon and now doing their usual propaganda to save face?
How does all that amount to acting reasonably please

Let me put my opinion of the the current FG having acted reasonably in proper perspective:

The timelines for the FG vs P&ID is summarized below:

1. FG and P&ID signed a contract in 2010
2. Contract was that FG would provide pipelines and other infrastructures and deliver natural gas to P&ID
3. P&ID was to build a processing plant
4. P&ID was to provide free processed gas to FG for addition of 2000 MW of electricity
4. Government did not fulfill it's side of the bargain
5. 2010 - 2012, FGN refused to reasonably engage P&ID
6. 2012: P&ID dragged FG to arbitration tribunal in London.
7. 2012-2015 FG made no offer for settlement to P&ID
8. July 2015, the arbitration tribunal concluded on Nigeria's liability based on repudiation and judgement was reserved.
9. Jan 2017, the tribunal read the judgement it reserved in July 2015 by ordering Nigeria to pay $6.6 billion.

The foregoing is to put issues in perspective.

Now between May 29 2015, that Buhari was sworn in and July 2015 that judgement was reserved, there was little or nothing FG could have done.

And after reserving judgement, parties to the suit would have to wait to hear judgement to know their next line of action.

The guys who acted unreasonably were those in government from 2010 to 2015.

teepain:
Let me put my opinion of the the current FG having acted reasonably in proper perspective:

The timelines for the FG vs P&ID is summarized below:

1. FG and P&ID signed a contract in 2010
2. Contract was that FG would provide pipelines and other infrastructures and deliver natural gas to P&ID
3. P&ID was to build a processing plant
4. P&ID was to provide free processed gas to FG for addition of 2000 MW of electricity
4. Government did not fulfill it's side of the bargain
5. 2010 - 2012, FGN refused to reasonably engage P&ID
6. 2012: P&ID dragged FG to arbitration tribunal in London.
7. 2012-2015 FG made no offer for settlement to P&ID
8. July 2015, the arbitration tribunal concluded on Nigeria's liability based on repudiation and judgement was reserved.
9. Jan 2017, the tribunal read the judgement it reserved in July 2015 by ordering Nigeria to pay $6.6 billion.

The foregoing is to put issues in perspective.

Now between May 29 2015, that Buhari was sworn in and July 2015 that judgement was reserved, there was little or nothing FG could have done.

And after reserving judgement, parties to the suit would have to wait to hear judgement to know their next line of action.

The guys who acted unreasonably were those in government from 2010 to 2015.

Must you tell lies or you are just ignorant

P&ID said after spending several years preparing for the project, the project collapsed because the Nigerian government did not build a pipeline or secure a supply of gas as stipulated in the agreement.

With the ensuing crisis unresolved even after proposing an amendment to the agreement, P&ID commenced arbitration against Nigeria in August 2012 in London, UK.

In May 2015, while the arbitration was still ongoing, P&ID agreed to settle the dispute upon payment of $850 million by the government, according to documents seen by TheCable.

However, President Goodluck Jonathan, who was about to leave office having been defeated in the presidential election, provoked by P&ID’s offer, countered, but indicated they would hand over the negotiations to the incoming administration of President Muhammadu Buhari.

The arbitration award was made two months after Buhari assumed office in 2015.

https://www.iarbafrica.com/en/news-list/17-news/996-$9bn-judgment-debt-nigeria-to-know-fate-on-june-14

www.nairaland.com/attachments/5005104_tmpcam1369974616_jpeg320d1d6eefd4b1662dd9f599d4d69992

anonimi:
Must you tell lies or you are just ignorant

Process and Industrial Developments Limited (P&ID) is an engineering and project management company founded and led by Michael Quinn and Brendan Cahill who had over 30 years’ experience of project management and execution in Nigeria.

P&ID conceived and planned a project that would deliver much-needed power generation to millions of Nigerians, and create profitable by-products for sale on the international market. Under an agreement with Nigeria, P&ID would build a state-of-the-art gas processing plant to refine natural gas (“wet gas”) into “lean gas” that Nigeria would receive free of charge to power its national electric grid. The lucrative natural gas liquid by-products (propane, ethane, butane) of this processing would be sold by P&ID on the international market, with expected profits in the billions of dollars.

In 2010, P&ID entered into a 20-year agreement with the federal government of Nigeria to execute this project.

Under the agreement, the Nigerian government was to ensure that all necessary pipelines and related infrastructure were installed and that arrangements were made with agencies and third parties to deliver gas for P&ID to process. However, the Nigerian government failed to meet its commitments, causing the project to flounder. This meant Nigeria would lose the opportunity of a new power supply, and P&ID would lose 20 years’ worth of profits.

P&ID attempted on multiple occasions to find a solution, and yet Nigeria refused to come to the table. Arbitration commenced in 2012 before a tribunal in London. Although during the arbitration Nigeria claimed to be interested in reaching an amicable settlement with P&ID, in fact Nigeria never made a serious offer and it became clear that Nigeria was attending settlement discussions only to delay the proceedings.

In July 2015, the tribunal in London unanimously concluded that Nigeria was liable for the government having repudiated the agreement with P&ID. In January 2017, the tribunal ordered the Nigerian government to pay P&ID $6.6 billion in damages, plus interest that is accruing daily at a rate of over $1.2 million

Source: www.pandidfacts.com

Please read through the submissions of P&ID carefully especially the parts in emphasis.

When you are done reading and reconciling their submissions with my earlier post, kindly point out the lies I told.

Then we can continue to have a civil conversation.