₦airaland Forum

Latest figures from Nigerian National Petroleum Corporation (NNPC) showed that a total of 150.4 million barrels of crude oil valued at N3.04tn was swapped for refined petroleum products by the corporation between September 2018 and September 2019.
In terms of crude oil refining, Nigeria’s refineries are operating far below capacity and so the NNPC swaps crude oil with qualified companies, who in turn refine the commodity and supply refined petroleum products to the corporation.

The swap scheme is known as Direct Sale (of crude oil) and Direct Purchase (of petroleum products). The petroleum products that are delivered by the qualified companies are usually equivalent in value to the crude oil received from the NNPC.

Analysis of the NNPC’s most recent financial and operations report for October 2019 showed that the oil firm had been maintaining the DSDP scheme to ensure there is no disruption in domestic supply of refined petroleum products.

It was also observed that the volume of crude swapped by the corporation in September 2019 was 5.95 million barrels higher than what was recorded in September 2018. In September 2018, the oil firm swapped 8.54 million barrels of crude oil, but this increased to 14.49 million barrels in September 2019.

The report further stated that in September 2019, the NNPC lifted 10,665,632 barrels of crude oil from the daily allocation for domestic utilisation translating to an average volume of 355,521 barrels of oil per day in terms of performance.

There had been concerns on the abysmal performance of Nigeria’s refineries, a development that had made the corporation to swap crude with other companies in order to get refined products.


https://www.naijabusiness.com.ng/news/2020/nnpc-swapped-n3-04tn-worth-of-crude-oil-for-refined-products/

merry go round

Swapping Na scam.... Forget about any back up story

Mr.El-Rufai said the NNPC has become so entrenched in corruption that the only way out for Nigeria is not to attempt to salvage the corporation, but to destroy it and create a new oil company.“If you don’t kill the NNPC, it will kill Nigeria,”

https://www.premiumtimesng.com/news/headlines/186622-nigeria-must-kill-nnpc-el-rufai.html

The scam continues.Subsidy/under recovery are all scam.Meanwhile, Mr.President is yet to fulfill his one-year one-refinery audio promise scam.

helinues:
Swapping Na scam.... Forget about any back up story

Not knowing that you're openly acknowledging and declaring that your demigod-the minister of petroleum/NNPC are the scammers and fraudsters that they rightly are.

Racoon:
Not knowing that you're openly acknowledging and declaring that your demigod-the minister of petroleum/NNPC as scammers and fraudsters

Sebi a tree makes a forest from where you are from abi

Dis is stupidity, ineffectiveness and scam of d highest... I'm waiting for any ediotic zonb to enta dis thread.. Bunch of mofos

Oil swap deal? This is the highest corruption, who accountsall these?

And Buhari is the petroleum Minister.

Can your father produce the clip where Buhari made that promise ? because your father is a diehard liar does not mean Buhari must join him.

Racoon:
https://www.premiumtimesng.com/news/headlines/186622-nigeria-must-kill-nnpc-el-rufai.html

The scam continues.Subsidy/under recoveryare all scam.Meanwhile, Mr.President is yet to fulfill his one-year one-refinery audio promise scam.

[s]

Sonnyboom:
Can your father produce the clip where Buhari made that promise ? because your father is a diehard liar does not mean Buhari must join him.

[/s]

"Gen.Muhammadu Buhari,the APC presidential candidate has promised to build FOUR new petroleum refineries in Nigeria if elected president during the forthcoming elections taking place later this month..."

http://africanripples.com/buhari-promises-four-new-petroleum-refineries-if-elected-president/

"Nigeria’s former Minister of Petroleum Resources-Ibe Kachikwu,has admitted the failure of President Buhari’s administration to give Nigerians refinery as promised in the run-up to the 2015 presidential election...."

http://saharareporters.com/2019/06/08/buharis-administration-failed-nigerians-not-building-refinery-promised-kachikwu

All the link only proves your father must perish from the lies of claiming Buhari promised to build a refinery each year. Your lies as sentenced you to your death, I leave u to your doom.

Racoon:
[s][/s]

http://africanripples.com/buhari-promises-four-new-petroleum-refineries-if-elected-president/


http://saharareporters.com/2019/06/08/buharis-administration-failed-nigerians-not-building-refinery-promised-kachikwu

Whoah! So the crude swap scam is back under Mallam Integrity. This same scam that Diezani and her boyfriends utilized to almost empty Nigeria's treasury under the Drunken Master...

the more things change, the more they remain the same