African Leaders Join Nigeria to Reject European Economic Agreement

[The Odum of Ala Igbo]

nigeria needs to become a member of OPEC

Nigeria not being part of OPEC would be good. It would allow Nigeria to sell oil at whatever prices it wanted to without being forced by Saudi Arabia.

 

[The Odum of Ala Igbo]

Funny you say that. At the moment a lot of international oil firms are heavily divesting from Nigeria due to less support from the present administration and the upcoming PIB Bill that is soon to be passed. Shell is already planing to sell majority of its oil blocks some time this year. Guess who is buying up all the oil blocks?? Nigerian local oil firms. The Nigerian government is purposely trying to increase the influence of local Nigerians in the oil sector.





Ventures Africa | Nigeria’s Petroleum Industry Bill Set For Approval
Nigeria: Local Content Update for the Oil and Gas Industry | The National Law Review
Shell's planned asset sale in Nigeria may take up to a year -CFO| Reuters
Nigeria preference for local firms - minister - business - News - StarAfrica.com





Infact Nigeria just recently awraded 40 billion woth of conbtracts to local firms. This shocked al ot of the international firms and I am hearing that some were very pissed off.
Exclusive: Nigeria favors local firms in $40 billion oil contract awards - News - KFGO The Mighty 790AM - Fargo Moorhead, ND



Plus at the moment The united states is deceasing their import of Nigerian oil at an alarming rate and instead Nigeria has increased oil sales to countries like china, India and Argentina.








Nigeria’s quest for new markets for crude oil yielding result | BusinessDay
Nigerian Exports Bearing Brunt of U.S. Shale-Oil Boom - WSJ.com
U.S. Purchases Of Nigerian Crude Falls As Asian Shipments Rise | Nigeria Oil & Gas Intelligence
Argentina to import Nigerian crude oil | News24 Nigeria


America and Britain are not as tied to Nigeria as lets say 5 years ago. The present administration is really looking else where for development.

This is very good news. I'm going to do more research into these developments you have posted.. I would still imagine that existing contracts with Western firms still heavily factor in to what I previously said about the importance of Nigeria globally. Especially given the fact that petroleum is sold on a single global market. Nigeria better capitalize on opportunities in Asia and Latin America now before N.American oil resources come online.

 

[Marvel]

The EU can't "Libya" Nigeria. The only EU powers that can do that are France and Britain. Britain wouldn't destabilize Nigeria because of Royal-Dutch Shell might be impacted by having a weakened Nigerian government that cannot protect its oil facilities. That would make the U.S. unhappy because a significant portion of America's oil comes from Nigeria. So that leaves France. France cannot expect to occupy a country with more than 170 million people and risk the ire of the U.S. and Britain. What they would do to destabilize Nigeria is to give weapons to third party actors or their backers to facilitate armed rebellion in Nigeria. However, I generally think the West has too much interest in seeing Nigeria remain a viable state though I deem it to be the prison of nations...

The ones who would benefit the most from a destabilized Nigeria are Iran and Saudi Arabia. Not to mention Muslim political leaders in Northern Nigeria who will use the violence to erode the re-election chances of President Goodluck Jonathan.

Exactly, These companies are already making billions upon billions off of Nigeria. As long as Nigeria is kept in a comatose state it give them a lot more influence over the resources there. That is why I keep telling people that Nigeria is not a country, its a corporate entity masquerading as a country.

 

[Dreamestorical]

Exactly, These companies are already making billions upon billions off of Nigeria. As long as Nigeria is kept in a comatose state it give them a lot more influence over the resources there. That is why I keep telling people that Nigeria is not a country, its a corporate entity masquerading as a country.

5 years ago I would agree with your statement. If there is one thing I like about President Jonathan, it is his local content policy. The present administration has been taking great efforts in breaking the grip the foreign nationals have on the country.Two examples are the PIB bill that they are about to sign into law this year and the fact that they are awarding billions of dollars of oil contracts solely to local oil firms which is inciting great angst among international oil firms. Here is my previous post in this thread pertaining to this present development.

Funny you say that. At the moment a lot of international oil firms are heavily divesting from Nigeria due to less support from the present administration and the upcoming PIB Bill that is soon to be passed. Shell is already planing to sell majority of its oil blocks some time this year. Guess who is buying up all the oil blocks?? Nigerian local oil firms. The Nigerian government is purposely trying to increase the influence of local Nigerians in the oil sector.

Although many believe that the bill has been delayed for so long because of the International Oil Companies (IOCs) who have reservations about the effect on their businesses and investments, the eventual approval and implementation of the bill will hopefully send ripples of transformation through the industry and create a change that will diffuse the monopoly of foreign multinationals and usher in stability and increased local participation in the industry.

Ventures Africa | Nigeria’s Petroleum Industry Bill Set For Approval
Nigeria: Local Content Update for the Oil and Gas Industry | The National Law Review
Shell's planned asset sale in Nigeria may take up to a year -CFO| Reuters
Nigeria preference for local firms - minister - business - News - StarAfrica.com

Nigeria has professed preference to contract local firms for crude oil lifting at the expense of foreign ones, a senior official has revealed.Petroleum Resources minister, Mrs. Diezani Alison-Madueke said that recent award of term contracts for crude lifting were awarded to mostly indigenous companies as part of the government’s drive to encourage effective local participation in the oil and gas industry.

Infact Nigeria just recently awarded 40 billion worth of oil contracts to local firms. This shocked al ot of the international firms and I am hearing that some were very pissed off.
Exclusive: Nigeria favors local firms in $40 billion oil contract awards - News - KFGO The Mighty 790AM - Fargo Moorhead, ND



Plus at the moment The united states is deceasing their import of Nigerian oil at an alarming rate and instead Nigeria has increased oil sales to countries like china, India and Argentina.

Bloomberg reports that U.S. purchases of Nigerian crude fell to a five-year low in February according to data from the Energy Department in the US. This comes on the back of rising US output as well as refinery closures in North America. Nigeria has now lost its place as the fifth biggest supplier of crude oil to the US, slipping to sixth.

As a result, exports of Nigerian oil to the U.S. have fallen to their lowest levels in decades, according to data from the U.S. Energy Information Administration, disquieting political elites in a country where oil export is the mainstay of the economy.

Analysts say it may be a taste of what is to come for other OPEC members, even though the group has largely shrugged off the threat presented by the U.S. shale-oil boom.

Lagos - Nigeria’s efforts to find alternative markets for its crude oil after exports to the United States dropped has received a big boost as Argentina has ordered for Nigerian Bonny Light crude.

This is the first time the South American country, which produces 700 000 barrels per day (bpd) of oil, would be buying Nigerian crude since it lifted restrictions on crude imports in January, reports Daily Trust.

Argentina's state-run oil company, YPF, has awarded a tender to buy a one million-barrel cargo of Nigerian Bonny Light crude from trading firm, Vitol.

The first cargo is expected to arrive at the country’s Bahia Blanca Port in the second week of May.

Nigeria’s quest for new markets for crude oil yielding result | BusinessDay
Nigerian Exports Bearing Brunt of U.S. Shale-Oil Boom - WSJ.com
U.S. Purchases Of Nigerian Crude Falls As Asian Shipments Rise | Nigeria Oil & Gas Intelligence
Argentina to import Nigerian crude oil | News24 Nigeria


America and Britain are not as tied to Nigeria as lets say 5 years ago. The present administration is really looking else where for development.
]

 

[Marvel]

5 years ago I would agree with your statement. If there is one thing I like about President Jonathan, it is his local content policy. The present administration has been taking great efforts in breaking the grip the foreign nationals have on the country.Two examples are the PIB bill that they are about to sign into law this year and the fact that they are awarding billions of dollars of oil contracts solely to local oil firms which is inciting great angst among international oil firms. Here is my previous post in this thread pertaining to this present development.

Breh, the hands are already in the cookie jar and they are coming for more cookies because they are not satisfied. Its a one way street with Edomites.

 

[Dreamestorical]

This is very good news. I'm going to do more research into these developments you have posted.. I would still imagine that existing contracts with Western firms still heavily factor in to what I previously said about the importance of Nigeria globally. Especially given the fact that petroleum is sold on a single global market. Nigeria better capitalize on opportunities in Asia and Latin America now before N.American oil resources come online.

Yeah the existing contracts still hold great weight. But here is where things get very dangerous but interesting. Majority of Nigeria`s Oil leases which are presently owned by foreign firms and private individuals expire from 2016-2018. So who ever is the president of Nigeria at that time has the ability to award them to whoever they see fit. This is one reason that many believe the whole Boko Haram situation is politically motivated. Then you add in the fact that the Nigerian government believes Boko haram is getting funding from outside the country then things get even more interesting.
2015 is going to be crucial for Nigeria. Who ever is in power will have the ability to change the whole course of not only Nigeria, but west Africa as a whole.

Its why I really want Jonathan In power come 2015. Despite of all his faults, if there is one thing about the man and his administration it is that they are very pro Nigerian ownership in all facets of the economy.

 

[Dreamestorical]

Breh, the hands are already in the cookie jar and they are coming for more cookies because they are not satisfied. Its a one way street with Edomites.

If you look at my previous post you will see that they grip they presently have could potentially be broken come 2015. The Majority of Nigeria`s Oil leases that were given to private individuals and International oil companies are going to expire from 2016-2018. So whoever is in power come 2015 will have the power to do what they want with them. The present administration wants to instead remove ownership from the private hands and make it public.

 

[FaTaL]

Nigeria not being part of OPEC would be good. It would allow Nigeria to sell oil at whatever prices it wanted to without being forced by Saudi Arabia.

opec could help them become self sustaining instead of depending on the chinese to drill their oil

 

[Crown of Faith]

 

[Kritic]

The Majority of Nigeria`s Oil leases that were given to private individuals and International oil companies are going to expire from 2016-2018. So whoever is in power come 2015 will have the power to do what they want with them.

 

[Dreamestorical]

opec could help them become self sustaining instead of depending on the chinese to drill their oil

We dont rely on China to drill our oil. China is only the biggest buyer of our oil in the world. It is mainly western corporations like shell and chevron that have been drilling our oil. But as I have been saying in this thread that is beginning to change. Nigeria's government has started an aggressive local content development policy which aims to weaken the grip international corporations have on our oil and instead empower more local companies. This is ofcourse pissing of a lot of international firms.


Nigeria preference for local firms - minister - business - News - StarAfrica.com

Nigeria has professed preference to contract local firms for crude oil lifting at the expense of foreign ones, a senior official has revealed.Petroleum Resources minister, Mrs. Diezani Alison-Madueke said that recent award of term contracts for crude lifting were awarded to mostly indigenous companies as part of the government’s drive to encourage effective local participation in the oil and gas industry.

Ventures Africa | Nigeria’s Petroleum Industry Bill Set For Approval

Although many believe that the bill has been delayed for so long because of the International Oil Companies (IOCs) who have reservations about the effect on their businesses and investments,the eventual approval and implementation of the bill will hopefully send ripples of transformation through the industry and create a change that will diffuse the monopoly of foreign multinationals and usher in stability and increased local participation in the industry.

Nigeria: Local Content Update for the Oil and Gas Industry | The National Law Review

The Local Content Act contains various provisions commonly found in developing-country petroleum sharing contracts, designed largely to ensure that a country’s resources provide tangible benefits to the local population, and that projects have a positive and lasting legacy. By way of example, the Local Content Act provides that “Nigerian independent operators shall be given first consideration in the award of oil blocks, oil field licences, oil lifting licences and all projects for which contract is to be awarded in the Nigerian oil and gas industry [subject to conditions specified by the Minister]”, and requires that all international or multinational companies working through their Nigerian subsidiaries demonstrate that at least 50% of the equipment deployed for execution of work is owned by the Nigerian subsidiaries.

Exclusive: Nigeria favors local firms in $40 billion oil contract awards - News - KFGO The Mighty 790AM - Fargo Moorhead, ND

Nigeria has awarded most of its long-term oil contracts worth an estimated $40 billion a year to local companies, according to a confidential list seen by Reuters, meaning global traders need to partner with them to access crude from Africa's top producer.

 

[Dreamestorical]

Yep. 2015 is key. Plus it looks like the elections are going to be In February of that year. So in just 9 months.
I dont like to type this but the violence you are witnessing in Nigeria like the whole kidnapping of 200 girls or the abuja bombing that killed 71 people 2 weeks ago and the bombing that took place again today that killed another 12 are going to continue to happen. On top of that Its going to get a lot worse for Nigerians. I foresee a lot more kidnappings, assassinations,and bomb explosions. Explosion Rocks Nigeria's Capital Abuja
The powers that be are going to do all in their power to ensure this present administration is removed and they are in power come 2015.

 

[Marvel]

If you look at my previous post you will see that they grip they presently have could potentially be broken come 2015. The Majority of Nigeria`s Oil leases that were given to private individuals and International oil companies are going to expire from 2016-2018. So whoever is in power come 2015 will have the power to do what they want with them. The present administration wants to instead remove ownership from the private hands and make it public.

Do you really think the leaders of Nigeria will do right for the citizens and leave the white man hanging? Nigeria is a puppet state, there is no hope for that place. The Only thing that Nigeria can do is ally with Russia and China to keep the western cacs off their back, but that move will be met with sanctions and scrutiny of Nigerians that live abroad. A lot of these thieving Nigerian politicians/puppets have money in Europe and travel there frequently. Imagine them being barred from traveling there which can be done.

 

[Poitier]

Nigeria better strengthen its bond with China and get ready for the proxy wars.

 

[Kritic]

is there a more corrupt nation than nigeria?