International Oil companies leaving Nigeria.

[theworldismine13]

you trolling right?

Are you trolling? The map clearly shows that poor countries tend to export minerals and the rich countries export manufactured goods

So what should african countries focus on selling mineral resources or manfufactired goods?

Do the math, manufactures buy resources on the cheap and sell it for much higher prices, who will get richer the resource provider or the manufacturer? Do the math

 

[Kritic]

Are you trolling? The map clearly shows that poor countries tend to export minerals and the rich countries export manufactured goods

So what should african countries focus on selling mineral resources or manfufactired goods?

Do the math, manufactures buy resources on the cheap and sell it for much higher prices, who will get richer the resource provider or the manufacturer? Do the math

what fuqs over the poor countries is not that they're selling minerals but they're being screwed out their shyt.
them rothschilds stealing everything out of a country like south africa.

trying to take over nigeria cause it's the richest country over there. sudan, nigeria. all countries that have been waged on war is because of natural resources. them rockerfellers what everyone's shyt. iran, venezuela (rip chavez ), libya (rip gadafi ), iraq (sadaam ), nigeria ()
The World’s Most Resource-Rich Countries | Welcome to the Doctor's Office


they just have c00ns like you posted on the net to lie to ppl they want to end dictatorship.



you know damn well you can't outtroll me so don't even try..

 

[theworldismine13]

what fuqs over the poor countries is not that they're selling minerals but they're being screwed out their shyt.
them rothschilds stealing everything out of a country like south africa.

trying to take over nigeria cause it's the richest country over there. sudan, nigeria. all countries that have been waged on war is because of natural resources. them rockerfellers what everyone's shyt. iran, venezuela (rip chavez ), libya (rip gadafi ), iraq (sadaam ), nigeria ()
The World’s Most Resource-Rich Countries | Welcome to the Doctor's Office


they just have c00ns like you posted on the net to lie to ppl they want to end dictatorship.



you know damn well you can't outtroll me so don't even try..

Like I said before your MO is to blame things on a higher power

There is no evidence that countries are being screwed out their resources, it might look that way if you are economically ignorant and you think mineral resources is a sustainable way to wealth, but it isn't

Look at the top economies in the world and look at countries with the most resources and the list doesn't match, becuase mineral resources doesn't correlate to wealth

What does correlate with wealth is manufacturing capability and levels of education of the population

 

[Kritic]

Like I said before your MO is to blame things on a higher power

There is no evidence that countries are being screwed out their resources, it might look that way if you are economically ignorant and you think mineral resources is a sustainable way to wealth, but it isn't

my work is done here. as always.

you ducking threads, i bait you, body you and move on to the next one....

see you in the next thread.

 

[theworldismine13]

my work is done here. as always.

you ducking threads, i bait you, body you and move on to the next one....

see you in the next thread.

Not even sure what this means but in just clarifying what I meant, 1) foreign investment is important for African countries 2) mineral resources are not the key to creating a prosperous country 3) it doesn't matter who owns the mineral wealth what is important is who and how much it's being taxed

Just some jewels for y'all

 

[newworldafro]

Its not so much that they are leaving...........I mean that is huge.................but its really what currency will they be using to sell/trade their oil ...

Petrodollar or No??......Very much connected to China and Russia's $400 billion natural gas deal this week, which WILL NOT actually use Petrodollar$ ........

Again...not scaremongering...but sharemongering.....If more countries decide THEY DO NOT WANT TO USE the PETRODOLLAR FOR OIL/NATURAL GAS...there will be floods of 100s of billions/trillions of dollars coming back to the U.S........and what is inflation??? It is to large a supply of money in the system...I'm not saying its going be lights out overnight..but prices in accordance with everything we know about history, financial markets, economics will be rising in the U.S.

With that said....serious question, but does Nigeria have the technology on hand to drill, etc... I assume they do, but always figured, international corporations brought a level of expertise and technology that local companies and the government did not have...

 

[Hiphoplives4eva]

The PIB Bill is really big.
though there are whispers going around that the international oil firms are the reason the bill is being stalled. The truth of the matter is the bill should have been in effect since 2012. But again corrupt people in the government have been stalling it. The good thing is its looking like it will be passed this year. Jonathan and Allison madueke (petroleum minister) are really pushing for it.
Especially Allison Madueke. That woman is tough as nails. There are Nigerian government officials that have been trying to remove her from her post by all means. There are even reports of death threats being sent to her and attempted assassinations. But the woman is still pushing on. I can boldly say she is the definition of a strong black woman.

Plus I think she is already a billionaire so she can't be easily bribed .

 

[Dreamestorical]

Well if we know whitey, he tries diplomacy, he tries civil war, then he sends the jackals. Hopefully they get this bill through

The one thing that annoys me is that Nigerians themselves dont want to see these achievements. They think she is incompetent.

Its not so much that they are leaving...........I mean that is huge.................but its really what currency will they be using to sell/trade their oil ...

Petrodollar or No??......Very much connected to China and Russia's $400 billion natural gas deal this week, which WILL NOT actually use Petrodollar$ ........

Again...not scaremongering...but sharemongering.....If more countries decide THEY DO NOT WANT TO USE the PETRODOLLAR FOR OIL/NATURAL GAS...there will be floods of 100s of billions/trillions of dollars coming back to the U.S........and what is inflation??? It is to large a supply of money in the system...I'm not saying its going be lights out overnight..but prices in accordance with everything we know about history, financial markets, economics will be rising in the U.S.

With that said....serious question, but does Nigeria have the technology on hand to drill, etc... I assume they do, but always figured, international corporations brought a level of expertise and technology that local companies and the government did not have...

Yeah when it comes to currency its still sold in Dollars. Nigeria has to take things one step at a time. The PIB bill, the local content policy, increase of tariffs on imported goods and our overall protectionist economic policies are already pissing off a lot of people. Can You believe due to the local content policy and our protectionist policies in agriculture, Nigeria's ease of doing business ranking in the world which is set by the world bank has dropped.

Plus in regards to your question

yes. Nigeria does have the skills to do our own drilling and land assessment. 10 years ago we did not. It was even the major reason the PIB bill (which had actually been originally proposed 13 years ago) had no legs. The international oil companies at that time would just threaten us by saying the will close production. Since we did not have the manpower to drill the oil at that time our government would usually fold to their threats.
Though I still have to note at the moment a few smaller Nigerian companies still need a little bit of technical assitance from abroad to do the oil drilling. But the good thing is that since they are the ones in charge, skills are still being transferred to the local populace.

Now we have indigenous oil companies like Oando, seplat, caverton, Pan Ocean oil corp, Brawal and many others.

Here is a link talking about the rise of Nigerian oil and gas companies
The Rise of Nigerian Oil and Gas Companies, Articles | THISDAY LIVE

In ways like never before Nigerian companies are on the rise, taking on prodigious challenges and overcoming them. They are increasing participation in areas that for long, have been the exclusive preserve of foreign companies. Increasingly, Nigerian companies have become more assertive, more ambitious and more resilient. No where is this more on display than the oil and gas sector and more recently, the power sector which has seen local indigenous companies in partnerships with foreign companies bid big and win big. It is essentially a sign of the growing assertiveness of the young entrepreneurial Nigerians that are clearly unafraid to take risk. And more than that, the opportunities the local content law has opened Nigerian companies to are unparalleled

Nigerian companies have put on impressive abilities to raise capital and form alliances with foreign technical partners in the acquisition of these oil assets. This has consequently deepened the level of local participation in the upstream, increased their level of technical competence and sophistication, created thousands of jobs for Nigerians and reduced to some measure, capital outflow from the country.

For the first time in our history, the Nigerian flag is flying high in the oil sector, especially in technical services and engineering.’’
Continuing, he stated further: ‘‘According to Nwapa, over $200 billion worth of procurements and nearly $10 billion worth of research and development (R&D) used to be sourced to North America, while technical services valued at nearly $80 billion and $39 billion worth of engineering works were done in Europe. The Nigerian Content Act meant $191 billion investment was now being retained in-country and hundreds of thousands of jobs in manufacturing, engineering, sciences and technical services could be created in a matter of years.

This last qoute is the big one. The local content policy is saving 191 Billion dollars because we are now in charge of our own Reserach and development, technical services, and procurement in the oil and gas sector

 

[Dreamestorical]

Not even sure what this means but in just clarifying what I meant, 1) foreign investment is important for African countries 2) mineral resources are not the key to creating a prosperous country 3) it doesn't matter who owns the mineral wealth what is important is who and how much it's being taxed

Just some jewels for y'all

Yes what you say is true. But the reasons I am happy for this is the fact that Nigerians are now taking control of the economy. Shell and chevrons domination of the oil secor in Nigeria has been a big physiological weight on the country for decades. Every Nigerian knows about the influence of the oil majors like shell, chevron, mobil. Does Ken saro wiwa wing a bell?

The 2nd benefit we are receiving from this is that the indegenous oil companies are willing to take up projects the international firms always refused to taake up. An example of one major project is Gas supply. The Nigerian government in the past had always asked the international oil companies to asist in supplying gas to Nigerians. The companies always refused. They said they had done studies and it would be non profitable for them. They instead preferred to sell the gas to the international market and flare the rest. Well now we have indigenous companies who have taken on the mantle and are now supplying gas to the nation instead of the international market. The funny thing is the indigenous companies are making a hefty profit. So I really dont understand why shell and those guys didint want to jump in.

Another benefit is oil spills. Before if there was an oil spill the company and the government had to share the responsibility in cleaning it up. The PIB bill which is being pushed and will soon be passed states that oil companies are 100% liable for any spills and are tasked to clean it up. The international oil firms didnt like it but guess what... the indigenous firms like Oando and seplat have agreed to it. Oandos ceo Adewale Tinubu stated that since he is Nigerian it is important that he takes a great role in helping his country since its the only country he has. So his company being 100% responsible for taking care of oil spills was no problem to him.
Due to this mindset they have, indigenous companies like Oando and caverton dont spill oil. Infact Oando has not had an oil spill in almost 3 years.

sidenote: At the moment Nigeria averages about 40 spills in a month. International oil companies

Most of all here is the greatest benefit nigeria is receiving from increased participation of Nigerian firms in the industry.

The Rise of Nigerian Oil and Gas Companies, Articles | THISDAY LIVE

For the first time in our history, the Nigerian flag is flying high in the oil sector, especially in technical services and engineering.’’
Continuing, he stated further: ‘‘According to Nwapa, over $200 billion worth of procurements and nearly $10 billion worth of research and development (R&D) used to be sourced to North America, while technical services valued at nearly $80 billion and $39 billion worth of engineering works were done in Europe. The Nigerian Content Act meant $191 billion investment was now being retained in-country and hundreds of thousands of jobs in manufacturing, engineering, sciences and technical services could be created in a matter of years.

so they are not just drilling the oil. They are playing a great role in research and development, technical services, maritime industry, oil ship/tanker maintenance e.t.c
So lots of jobs are being created in other sectors and the country is saving almost 200 billion dollars.
This is something that shell and alot of the other companies refused to do. For example they prefared to source techincal jobs and research jobs abroad. Even when it came to maintance of oil tankers they prefared to source it out. The indegnous companies on the other hand are helping to train Nigerians in these various skills and are increasing indegenous participation in the sector.

At the end of the day I understand companies have to look out for their best inetersts, especially international firms. The truth is companies like shell and mobil truthfully dont really give to shyts about what happens to Nigeria as long as they can get thier oil. Truthfully I think there is nothing wrong with that. Shell, Chevron and the rest must look out for their own interests first and foremost.

the indigenous companies on the other hand have everything to lose if shyt goes wrong in Nigeria. If their oil and gas lines are getting vandalized or if they anger host communities it will greatly impact their revenues and their downline when compared to shell. So there is more incentive for them to work with the government and host communities for the benefit of the nation.

 

[newworldafro]

Another benefit is oil spills. Before if there was an oil spill the company and the government had to share the responsibility in cleaning it up. The PIB bill which is being pushed and will soon be passed states that oil companies are 100% liable for any spills and are tasked to clean it up. The international oil firms didnt like it but guess what... the indigenous firms like Oando and seplat have agreed to it. Oandos ceo Adewale Tinubu stated that since he is Nigerian it is important that he takes a great role in helping his country since its the only country he has. So his company being 100% responsible for taking care of oil spills was no problem to him.
Due to this mindset they have, indigenous companies like Oando and caverton dont spill oil. Infact Oando has not had an oil spill in almost 3 years.
sidenote: At the moment Nigeria averages about 40 spills in a month. International oil companies

Most of all here is the greatest benefit nigeria is receiving from increased participation of Nigerian firms in the industry.

The Rise of Nigerian Oil and Gas Companies, Articles | THISDAY LIVE

I was going to mention if these indigenous companies would give two or three shytts about the environment...but that bill actually has some regulatory teeth to it.... ..which is related to my technology/expertise question earlier

If you can confirm that that company hasn't had a spill in 3 years , that is freaking amazing.....unheard of..........Some of these jokers act like having the best safety guidelines and technology in place is to costly and unnecessary, and use the great mantra: ALL Human Activity Has Inherent Risk ............and if something spills will ignore and avoid at the utmost

Not saying I don't believe you for that company not having any spills in 3 years, for the bolded.... but ummm

 

[Dreamestorical]

I was going to mention if these indigenous companies would give two or three shytts about the environment...but that bill actually has some regulatory teeth to it.... ..which is related to my technology/expertise question earlier

If you can confirm that that company hasn't had a spill in 3 years , that is freaking amazing.....unheard of..........Some of these jokers act like having the best safety guidelines and technology in place is to costly and unnecessary, and use the great mantra: ALL Human Activity Has Inherent Risk ............and if something spills will ignore and avoid at the utmost

Not saying I don't believe you for that company not having any spills in 3 years, for the bolded.... but ummm

Finding adewale tinubus exact statements in regards to the oil spills will be tough. I will have to watch his interviews to find out where he said it. Regardless you have to understand that outside of Nigeria, oil spills are not as frequent as in Nigeria. Nigeria records up to 600 oil spills yearly which are mainly due to lack of maintenance of pipelines, pipe line vandalism and oil companies not abiding by safety practices. Regardless indigenous firms like oando and caverton do not have any recent records oil oil spills in the Niger delta. The only indigenous company that has spilled oil recently is seplat petrolium. And at the moment Seplat is cleaning it up. On top of that after their oil spill, the host community said they had no plans to attack seplat and reassured them that there would be no violence directed towards them. seplat. Oil Spill: ‘No Plan To Attack SEPLAT’ – THEWILL

Now if it was shell, chervon, conoil or mobil in that situation we know how it would usually play out.

Now this all ties in to my next point. I know it sounds like a fairy tail to you where the indigenous companies are saying the right things and talking about helping nigeria grow and caring for the environment e.t.c One thing you have to understand is that in this case the indigenous companies dont have any leverage like the multi nationals. They have to do the right thing and they have to protect the goodwill they have. If they begin to spill oil, neglect thier host communities and do all manner of things, they will be affected negatively if the host communities decide to take actions into their hands like they have done with shell, chevron e.t.c
Again the thing about these companies is that unlike shell and the rest of the international firms that drill oil in all 4 corners of the globe, local companies like seplat, oando and caverton only have business in Nigeria at the moment. They basically get all their revenue from the Niger delta. So again they cannot afford to neglect proper safety procedures in their enclaves and piss of the locals. What do you think would happen to these indigenous companies if lets say their pipelines were getting vandalized, or thier workers were getting kidnapped, or the locals began to stage protests at their oil platforms and began disrupting production? They will end up incurring great losses. If one gas pipeline of lets say seplat is bombed or workers kidnapped, seplat will be in big trouble. Unlike companies like shell and mobil that can, and have repeatedly shrugged of such distractions.

Then we add the tax breaks and favors these indigenous companies are getting from the government. Alot of our expiring oil leases are being given to them. It is in these companies best interests to not bite the hand that is feeding them. Again its in the indigenous companies best interests to be pro government and pro Nigerian populace, their companies very survival relies on them being just that. This is why the indigenous companies are in full support of the PIB Bill even with the unfavorable tax increases and responsibility it puts on oil companies.

Plus i think they know the bill is positioning them to reap great gains with all the international firms leaving the country.



Now in regards to oil spills...

The best proof I can find for you right now in regards to oil spills in Nigeria are comments from Nigerias minister of petroleum Allison Madueke. She talks about some recent oil spills and dosent mention the indigenous companies. On top of that, you yourself can do a search on oil spills in Nigeria. You will see that apart from seplat, no other company has been recorded in oil spills. Plus you have to remember that it is nearly impossible for oil companies to hide oil spills n this day and age. If the oil companies try to sweep it under the rug, the local people on the lands affected by the oil spills will be the first to voice their complaints.

Who Takes the Blame for Oil Pollution in the Niger Delta?, Articles | THISDAY LIVE

The Nigerian National Oil Spill Detection and Response Agency (NOSDRA) confirmed in a recent release that as much as 2,400 oil spills incidents were recorded between 2006 and 2010, which were caused by sabotage, bunkering and poor infrastructure.
Information obtained from Shell Petroleum Development Company (SPDC), the company with the highest number of spills, showed that the company recorded about 201 oil spill incidents in just one year, which resulted in the spillage of some 26,411 barrels of crude.

In 2012 alone, Shell recorded about 198 cases of oil spills were across the Niger Delta. Of the 201 recent incidents, sabotage and theft accounted for 75.4 percent of the spills, while operational reasons accounted for just about 20 percent.

Apart from Shell, other multinational oil companies have in recent past reported several cases of oil spill on their facilities.
In 2012, Mobil Producing Nigeria (MPN) reported two separate incidents on the coast in Ibeno, Akwa Ibom, where it operates two offshore oil blocks and a 960, 000 barrels per day crude export terminal.

Crude oil spill was also reported from the fire, which hit an oil drilling rig, KS Endeavor, operated by Chevron Nigeria. The incident, which took place in January last year, resulted in the death of three persons.

Also, Italian Eni last year, reported scores of oil spills on its Nembe-Obama pipeline in Nigeria’s onshore Niger Delta.

She said: “I must say that multinational oil companies are not adhering to the global standard towards certain aspects of our environmental interest. At the same time the government itself did not as well ensure that its standards and policies in terms of our environment were implemented to the latter”.

I will try to look for oandos ceo's quote to back it up.

 

[newworldafro]

Finding adewale tinubus exact statements in regards to the oil spills will be tough. I will have to watch his interviews to find out where he said it. Regardless you have to understand that outside of Nigeria, oil spills are not as frequent as in Nigeria. Nigeria records up to 600 oil spills yearly which are mainly due to lack of maintenance of pipelines, pipe line vandalism and oil companies not abiding by safety practices. Regardless indigenous firms like oando and caverton do not have any recent records oil oil spills in the Niger delta. The only indigenous company that has spilled oil recently is seplat petrolium. And at the moment Seplat is cleaning it up. On top of that after their oil spill, the host community said they had no plans to attack seplat and reassured them that there would be no violence directed towards them. seplat. Oil Spill: ‘No Plan To Attack SEPLAT’ – THEWILL

Now if it was shell, chervon, conoil or mobil in that situation we know how it would usually play out.

Now this all ties in to my next point. I know it sounds like a fairy tail to you where the indigenous companies are saying the right things and talking about helping nigeria grow and caring for the environment e.t.c One thing you have to understand is that in this case the indigenous companies dont have any leverage like the multi nationals. They have to do the right thing and they have to protect the goodwill they have. If they begin to spill oil, neglect thier host communities and do all manner of things, they will be affected negatively if the host communities decide to take actions into their hands like they have done with shell, chevron e.t.c
Again the thing about these companies is that unlike shell and the rest of the international firms that drill oil in all 4 corners of the globe, local companies like seplat, oando and caverton only have business in Nigeria at the moment. They basically get all their revenue from the Niger delta. So again they cannot afford to neglect proper safety procedures in their enclaves and piss of the locals. What do you think would happen to these indigenous companies if lets say their pipelines were getting vandalized, or thier workers were getting kidnapped, or the locals began to stage protests at their oil platforms and began disrupting production? They will end up incurring great losses. If one gas pipeline of lets say seplat is bombed or workers kidnapped, seplat will be in big trouble. Unlike companies like shell and mobil that can, and have repeatedly shrugged of such distractions.

Then we add the tax breaks and favors these indigenous companies are getting from the government. Alot of our expiring oil leases are being given to them. It is in these companies best interests to not bite the hand that is feeding them. Again its in the indigenous companies best interests to be pro government and pro Nigerian populace, their companies very survival relies on them being just that. This is why the indigenous companies are in full support of the PIB Bill even with the unfavorable tax increases and responsibility it puts on oil companies.

Plus i think they know the bill is positioning them to reap great gains with all the international firms leaving the country.



Now in regards to oil spills...

The best proof I can find for you right now in regards to oil spills in Nigeria are comments from Nigerias minister of petroleum Allison Madueke. She talks about some recent oil spills and dosent mention the indigenous companies. On top of that, you yourself can do a search on oil spills in Nigeria. You will see that apart from seplat, no other company has been recorded in oil spills. Plus you have to remember that it is nearly impossible for oil companies to hide oil spills n this day and age. If the oil companies try to sweep it under the rug, the local people on the lands affected by the oil spills will be the first to voice their complaints.

Who Takes the Blame for Oil Pollution in the Niger Delta?, Articles | THISDAY LIVE

I will try to look for oandos ceo's quote to back it up.