I got a serious letter from a serious person, a very formal letter. The person tried to explain the political and economic posture of the Buhari Administration…saying many simply hate the President who is under severe pressure to deliver so… Continue Reading
1. You are celebrating Crude Oil has risen to $60 per barrel 2.You are celebrating CBN Foreign Reserves are approaching $40b 3..You forgot Nigeria exports Crude Oil but imports Petrol….(like Venezuela) 4. Simple maths should tell you imported petrol will cost… Continue Reading
Out of 224 bids. All bids are for 32,000 bpd except Duke Oil, A subsidiary of NNPC for 90,000 BPD. In the spirit of transparency, can we see the Memorandum of Articles of the Nigerian Companies. Also can the foreign… Continue Reading
THE Federal Government has finally announced the cancellation of joint cash call with oil companies operating in Nigeria. Cash calls is the counterpart funding which the Federal Government, represented by the Nigerian National Petroleum Corporation, NNPC, pays annually as its… Continue Reading
One measure of the health of any economy is the Gross Domestic Output or GDP. The GDP is simply the value of output the nation produces. For example, a bakery in Agege, makes 500 loaves of bread a day, and… Continue Reading
Its important we explain this JV thing well… 1. in the past NNPC owns 50% of the UJVs…so we get that share of the revenues less costs 2. if we reduce our stake in the JVs (which is what is… Continue Reading
We have three refineries…none of them is performing at 20% capacity utilization. A. Kaduna Refinery 18.78% B. Warri Refinery 14.28% C. PortHarcourt Refinery 19.52% None What exactly is so hard in refining crude oil? Our oil is the best in… Continue Reading
I had written about the Chinese offer to Nigeria to buy a part of our reserves for $60b in cash….we did not take that offer. We seem keen on taking this $15b Indian offer, and we should, its a great… Continue Reading
As regards my short article on selling the NNPC and the NLNG. It’s important I clarify my position so it’s clear. I do not support the selling of any State Owned Enterprise (SoE) to raise cash for the Government to… Continue Reading
I had written earlier about how the Chinese National Offshore Oil Company (CNOOC) offered $50 billion (Fifty Billion USD) in 2009 for acquisition of six billion barrels of proven crude oil reserves in Nigeria’s onshore and deep offshore portfolios. Nigeria… Continue Reading
