₦airaland Forum

useless bloggers .

chigoizie7:
Well, u made valid points, I still wonder why everyone is making noise about the ND oil and avengers bombing the pipelines, @least from what u said, we can just abandon oil for now and focus on ogun and lagos for our revenues via the exporting powers. Make we now rely on ogun and lagos for revenues to power naija, bros, that's even an outstanding achievement, make we leave ND make dem drink their oil.

Keep consoling yourself. I still wonder how the likes of Kuwait, uAE,qatar and other nations became what they are today, so just chill, as u are banking on your industries and all that, leave ND make dem focus on their oil.


Just 5yrs of 8trillion massive investment in all sectors of the economy in ND, let's see who will beg who for visa.
Lagos and ogun wey never produce normal naija daily consumptions wan begin drag rights with ND, upon all their facories and industries and everything, their yearly revenue put together no still reach 1trillion.

Don't ask me if they can wait for the 5yrs massive investments, they are seeing light @ d end of the tunnel, if they can wait for naija to change for 50yrs, trust me, 5yrs is just a stepping stone.


All these things are just talks, just leave out the impending headache for the ND's, Shebi na dem go suffer am? Why taking panadol for their headache?


See, forget all these things, I am just saying it for saying sake, and just for u to know that u ain't doing ND any favour by staying in 1naija.


Just leave naija delta to worry about themselves. Focus on your south west, shikina

I told you i dont have any problems from Niger delta breakup see, you talked about 5 years of massive infrastructural investment in the niger Delta no wahala am very happy with that.


1. where are they going to get the cement to build the industries? Ogun state; Dangote and lafarge are the biggest producers of cement in Africa .


2.where are they going get the bitumen and gravel to make asphalt for their road? ondo and ogun state

3. what about they want to buy coke, fanta bournvita, indomie, magi etc? lagos, ogun, oyo


4. what about drugs ? lagos, ogun and oyo

you now see that out of that $8trillion Niger delta money at least $5trillion dollars is coming to south west

so am happy for them because it means good business for me. But as for you i will issue you visa to inter lagos.

chigoizie7:
Must I go tru lagos to get to other parts of the world?

Well, until then, let's see who charges who?.

Lolz, see na joke be this oh, but can u imagine what an all high sale of 2.4mbpd crude @ current $50/barrel, that's about N8trillion naira, bro, can u imagine what N8trillion times 5yrs will do to the lives and people of that small naija delta that is relatively smaller than a single state in south west?

See, bros, stop consoling urself, lagos state does not generate more than a trillion naira per year, u and I know that some of the businesses in lagos are there because of the oil in naija, infact the whole of south west states put together does not generate upto 1trillion per annum, now compare ND with close to 8trillion and tell yourself who should be visiting who.


See, I am not advocating for all these, I want to give a small mental picture of what things will look like so that u will stop seeing it as doing them a favour in staying in 1naija.

One love.

You still don't get it do you?

1. lagos, ogun and ondo has oil

2. lagos is and will continue to be the largest economy in the whole of west Africa post nigeria

2. All land locked states and country like northern Nigeria, middle belt nigeria, chad and Niger will continue to use Lagos ports for land, sea and rail transportation of cargoes and that runs into billions of dollars yearly.

3 Lagos, Ogun and oyo state alone contribute more than 60% of the total manufacturing output of Nigeria

4. ogun state not even lagos is the biggest manufacturing state in Nigeria.


5. ogun state alone has over 15 private universities i haven't even mentioned lagos , oyo, ekiti ondo and osun. we are going to make foreign exchange from international Students like you wanting to study here.

its not about oil, it about manufacturing and industries. today China is the second largest economy and the biggest industrial hub in the world. You see why this drop in oil price is not affecting china badly. so my brother am waiting earnestly for you to break the county already.

chigoizie7:
As long as there is a bilateral relationship between the two countries, no problems. Has the people of lesotho all died?

Then good riddance. just put it in mind you would need visa to smell lagos. i will charge you heavily as a foreigner in yoruba land.

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chigoizie7:
Lolz, ipob's promise to niger delta is that they are free anytime to go their separate ways if they want.

But that will make you landlocked (like Lesotho) and you will forever be at the mercy of the Niger Deltans. hope you get the picture. you will be to Niger Deltans what Lesotho is to south Africa.

As far as yorubas are concern we really don't give a fvk about Nigeria breakup or breakdown. Please do it already.

I thought IPOB said they are part of niger delta.
see as them calve the land of the African Jews away.

the import of this is that Nigeria can not afford a ONE TRILLION SUBSIDY PAYMENT this year; not even in the nearest future.

We are having a 2 trillion deficit in the budget which govt will be financing through foreign and domestic borrowing. Now put one trillion subsidy payment in the mix and you have a catastrophe.

NLC , TUC and the civil society groups should put on their thinking cap and take a second look at govt proposal before they plunge this country into an economy recession like Venezuela.

*Price of crude has gone south

*Niger Delta militants are on rampage blowing up
oil wells

*oil majors are shutting down production in the creeks

*oil revenue is dropping fast

*most states cant even afford 18k minimum wage ; with the exception of lagos , rivers, ogun and anambra the rest are almost bankrupt

And yet NLC wants subsidy regime to continue. Its time we ask them (NLC) on whose side they belong?
because i don't see how continuous subsidy payment will help us as a country .

anwe:
Venesuela fail due to a lot things:-
- Hugo Chavez was poisoned
- inexperienced leadership
- bad policies
- politics just as in Libya

fall in oil price was a major blow to Venezuelan economy. Without that, things would still have been going smoothly.

http://www.cnn.com/2016/05/15/americas/venezuela-slide-into-crisis/index.html?sr=fbcnni051616venezuela-slide-into-crisis0715AMVODtopLink&linkId=24539050



Venezuela is currently seeing sky-high inflation brought on by plummeting oil prices, which has resulted in a chronic shortage of goods, medicine and power -- all of which is contributing to widespread political unrest. Maduro threatened Saturday to seize idle Venezuela factories and jail their owners following a decree granting him expanded powers to deal with the country's acute economic crisis. GDP growth by annual percentage in Venezuela source: World bank what's behind all this? Government workers get two-day workweek in Venezuela 02:07Maduro is the heir of the populist president Hugo Chavez, who died of cancer in 2013. Riding to power in 1999 on the back of anti-U.S. sentiment and high oil revenues, Chavez implemented a heavily statist economic model. But the leftist nature of the movement created enmity with many, including the United States, and Chavez was a regular thorn in the side of former U.S. President George Bush. But Maduro lacks his predecessor's firebrand populism and, crucially, the high oil prices that funded many of his social programs. This combination has led to widespread dissatisfaction with the former bus driver'stime at the helm.


https://www.washingtonpost.com/news/wonk/wp/2016/01/29/venezuela-is-on-the-brink-of-a-complete-collapse/


The only question now is whether Venezuela's government or economy will completely collapse first.

The key word there is "completely." Both are well into their death throes. Indeed, Venezuela's ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it's hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don't tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It's no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.

That's not an easy thing to do when you have the largest oil reserves in the world, but Venezuela has managed it. How? Well, a combination of bad luck and worse policies. The first step was when Hugo Chávez's socialist government started spending more money on the poor, with everything from two-cent gasoline to free housing. Now, there's nothing wrong with that — in fact, it's a good idea in general — but only as long as you actually, well, have the money to spend. And by 2005 or so, Venezuela didn't.

Why not? The answer is that Chávez turned the state-owned oil company from being professionally run to being barely run. People who knew what they were doing were replaced with people who were loyal to the regime, and profits came out but new investment didn't go in. That last part was particularly bad, because Venezuela's extra-heavy crude needs to be blended Or refined — neither of which is cheap — before it can be sold. So Venezuela just hasn't been able to churn out as much oil as it used to without upgraded or even maintained infrastructure. Specifically, oil production fell 25 percent between 1999 and 2013.

The rest is a familiar tale of fiscal woe. Even triple-digit oil prices, as Justin Fox points out, weren't enough to keep Venezuela out of the red when it was spending more on its people but producing less crude. So it did what all poorly run states do when the money runs out: It printed some more. And by "some," I mean a lot, a lot more. That, in turn, became more "a lots" than you can count once oil started collapsing in mid-2014. The result of all this money-printing, as you can see below, is that Venezuela's currency has, by black market rates, lost 93 percent of its value in the past two years.

It turns out Lenin was wrong. Debauching the currency is actually the best way to destroy line up to enter a state-run Bicentenario supermarket in Caraca


Image 2--- Customers line up to enter a state-run Bicentenario supermarket in Caracas, Venezuela. (Jorge Silva/Reuters)

Gaddafithe2nd:
Thanks for sharing those pictures. I wanted to reply that mumu that said Lagos as no oil. Agbami is the most popular of all the oil field in Lagos. Even in Epe, Chevron has their facilities in Igboye community in Epe. Many of my colleagues from Lagos back then in school, got Agbami scholarships.

you are welcome

brightleave:
Bros a simple explanation; fpso is floating production storage and offloading. while fso is floating storage and offloading. use ur bra*n and see if that vessel has any production facility. if not, can produce?

You must be very s*t*u*p*i*d for talking to me in that manner. I don't give a flying fvck what you choose to call it; that's your kettle of fish. meanwhile google
Rubicon Front Puffin FPSO to cure your misery.

Now get your fvcking putrid ass off my mention.

brightleave:
from what I can see here, this is not fpso rather it can be called fso. since it can not produce as there was no production facility installed on it. except this will be done later. it can only be used for storage or transportation purpose as it was now. the typical name for this is vlcc. for now stop calling it what you don't know. thanks

some of you seems to know more than the professionals. Did you follow the link to educate yourself?

Ogun state oil fields Loading....

still on agbami

Agbami oil field offshore Lagos

agbami oil field lagos
cc Super1Star

http://m.offshoreenergytoday.com/#newsitem-150793

pix of the FPSO hired for Aje field below
A contract for the charter of Rubicon's Front
Puffin FPSO has been signed, and modifications
are scheduled to start shortly to bring her into
specification for production on the Aje field.
Procurement of subsea equipment and the
contracting of a drilling rig for the Phase 1
development is also ongoing.
As part of Phase 1, the existing Aje-4 well will
be re-entered and completed and a new well
Aje-5, will be drilled. The Aje-5 well will be
drilled from a seabed location adjacent to Aje-4
and both wells will be connected via a subsea
manifold and production flowlines to the FPSO.
The Aje-5 well trajectory is designed to intersect
the Cenomanian reservoir close to where the
Aje-2 well intersected the Cenomanian reservoir.
This subsurface target has been selected since
Aje-2 demonstrated excellent productivity in a
Cenomanian production test conducted in 1997
where it flowed at 3,766 bopd of 41 API oil
despite the well sustaining significant
productivity impairment during drilling
operations.

http://www.panoroenergy.com/?page_id=639


Asset Status Ownership Partners
Aje Field Development 6.502% Yinka Folawiyo Petroleum*, New Age, Energy Equity Resources, Jacka Resources
*Operator of the Field NIGERIA
[color=#660000]Panoro Energy ASA has a 6.502% interest in OML
113 which is operated by Yinka Folawiyo Petroleum (YFP) and is located in the extreme western part of offshore Nigeria adjacent to the Benin border. [/color]The licence contains the Aje field as well as a number of exploration prospects.
The Aje Field was discovered in 1997 in water depths ranging from 100-1,500m. Unlike the majority of Nigerian Fields which are productive from Tertiary age sandstones, Aje has multiple oil, gas and gas condensate reservoirs in the
Turonian, Cenomanian and Albian age sandstones. Five wells have been drilled to date on the Aje Field. Aje-1 and Aje-2 tested oil and gas condensate at high rates from the Turonian and Cenomanian reservoirs and Aje-4 confirmed the productivity of these reservoirs and discovered an additional deeper Albian age reservoir. Aje-5 was drilled in 2015 as a development well for the Cenomanian oil reservoir. The OML 113 license has full 3D seismic coverage from surveys acquired in 1997 and 2014.
In March 2014 the Government of Nigeria approved of the Aje Field Development Plan (“FDP”) and in October 2014 the Final Investment Decision (“FID”) for the project was made. The FDP describes a development of the Aje Cenomanian oil reservoir via two subsea wells, the new Aje-5 well and a re-completed Aje-4 well, and a leased FPSO. The initial 2 wells will produce an estimated mid case of 28.5MMbbls 41° API oil with production starting early 2016 at a rate of circa 1,100 bbls/day (net to Panoro).
Two further wells, Aje-6 and Aje-7, are expected to bring total Cenomanian oil production up to over 50 MMbbls. A third Turonian gas condensate development phase is being conceptualised and will likely involve 3 or 4 wells producing over 500 bcf of gas, 22 MMbbls of condensate and 40 MMbbls of LPG. The development project activity is well underway with works on the FPSO and subsea equipment completing. The drilling was completed in 4Q 2015 and will be followed by installation and production start-up.

Technical information
Location Benin Embayment
Block OML 113
Water Depth 91 m
Reservoir Abeokuta Formation

The Nigerian Senate! No contest.

what is an ibo man doing in mile 12? ibo don dey sell imported pepper?

the housas and yorubas that are major stake holders in the market have all agreed and are looking forward to moving to the new market. But trust an IBO man to cry more than the bereaved and make political capital out if this.

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Op you are a liar. where in fagba is this ? I pass through fagda everyday and have never seen anything like this before

Saraki should be celebrating his victory in advance. abi no be nigerian supreme court?