mikeapollo:

He is trying to put Oando in good light so he can secure good deals when raising funds. If he gives the bad signals, he won't get good deals from creditors and/or investors .

Quite right.

Raider76:
He doesn't have to be "given" any of the old NNPC refineries. He can build a new one from scratch. Alhaji did the same thing after he was denied buying those refineries. And see where he is now. It is not also what is good for a company, but the Nation. That is where the sacrifice for patriotism comes in. In the end it is not the money you made for yourself and your family that people remember you by, but what you did to your fellow men and nation.

Ok

Oando better make money after all this Maradona passes of shares redistribution. Too much drama!

🙌🏽

Oando needs to hire a Top Accounting Maradona to help prepare a Nuclear Q1 Result.

zendi:
Oando needs to hire a Top Accounting Maradona to help prepare a Nuclear Q1 Result.

People need to remember and think 'what if'....what happened during Conoco Phillips acquisition years back happens again?
Investing has always been a risk since time immemorial!

zendi:
Oando needs to hire a Top Accounting Maradona to help prepare a Nuclear Q1 Result.

You are suggesting they cook the books eh

SonofElElyonRet:

You are suggesting they cook the books eh

God forbid !
Far be it from me to suggest crime.

You know that Maradona is a personal name.
I mean there is one good turnaround accountant by name Maradona who can help them craft an accurate Q1 Result.

Let me drop my 2cents.

I also bore similar a view to the bolded until I did more digging.
Here's what I discovered:

1.
According to Statista, as at 2018, Trinidad and Tobago (T&T) has proven oil reserves of 214m barrels as well as natural gas deposits totalling 11trn standard cu feet (scf) – which represents 0.2% of the world’s gas reserves. That sharp drop between 2015 and 2018 needs to be investigated.

2.
In 2018, T&T exported 12.2m tonnes of LNG, making it the 8th largest exporter of the commodity worldwide, with a 3.9% share of the international market, according to the International Gas Union (IGU).

3.
The Refinery in question (also called Pointe-a-Pierre Refinery) is a 168 Mbpd oil refinery. It happens to be the ONLY refinery in T&T 🤔. It was shutdown in 2018 due to very poor gross refining margin. At this time over 70% of the refined crude was imported. The source of imports were from Russia, Venezuela, Colombia, Brazil, Nigeria, DRC and Gabon.

4.
T&T has a daily local demand of about 32.5 mbpd.
If OandO can get the Refinery running at min 50% capacity they will be getting 84 mbpd.
That leaves an excess of over 50 mbpd for export.

For context, the trading arm of OandO generated about 57% of their annual income in 2023.
A foreign influx of USD revenue cannot be ignored. ..

OandO Group has tried severally to own a refinery either by building or acquisition.
See
https://www.oandoplc.com/press-release/oando-completes-detailed-bankable-feasibility-on-its-oil-refinery

https://dailytrust.com/fg-grants-approval-for-oando-eni-to-fix-p-harcourt-refinery/

Raider76:
It will be very unpatriotic to invest $15b in a foreign refinery at this time when Nigerian private refining industry is just taking off. I know that business should not be done on sentiment. But as a Nigerian I will hate to see that happen.

Besides, in the event that that refimery in Trinidad is bought by a compny operating in the upstream of the Nigerian oil operations, will definitely be run with Nigerian crude , at the expense of Nigerian refiners and local jobs. The refined products will then be imported back to compete with the local refined ones in the name of encouraging competition.

Should be between $400m and $600m

Your 'source' is probably Billionaire Africa

zendi:

The $15b price tag for Trinidad Refinery sounds both scary and crazy.
It cannot be true.

I read it somewhere but cannot find that source now to post it here. Therefore I hereby renounce and retract and outright disown that part of my post.
I have no idea how much is Trinidad Refinery.

I would have simply deleted the post but it has been widely quoted.

Dangote built a brand new edifice on home soil for $20b.
Trinidad is a decrepit "belgium" refinery that will require pouring in even more money
to refurbish, and I hereby distance my name from such story.

You quickly Maradona'd your way with the disclaimer...

zendi:

God forbid !
Far be it from me to suggest crime.

You know that Maradona is a personal name.
I mean there is one good turnaround accountant by name Maradona who can help them craft an accurate Q1 Result.

KarlTom:
Let me drop my 2cents.

I also bore similar a view to the bolded until I did more digging.
Here's what I discovered:

1.
According to Statista, as at 2018, Trinidad and Tobago (T&T) has proven oil reserves of 214m barrels as well as natural gas deposits totalling 11trn standard cu feet (scf) – which represents 0.2% of the world’s gas reserves. That sharp drop between 2015 and 2018 needs to be investigated.

2.
In 2018, T&T exported 12.2m tonnes of LNG, making it the 8th largest exporter of the commodity worldwide, with a 3.9% share of the international market, according to the International Gas Union (IGU).

3.
The Refinery in question (also called Pointe-a-Pierre Refinery) is a 168 Mbpd oil refinery. It happens to be the ONLY refinery in T&T 🤔. It was shutdown in 2018 due to very poor gross refining margin. At this time over 70% of the refined crude was imported. The source of imports were from Russia, Venezuela, Colombia, Brazil, Nigeria, DRC and Gabon.

4.
T&T has a daily local demand of about 32.5 mbpd.
If OandO can get the Refinery running at min 50% capacity they will be getting 84 mbpd.
That leaves an excess of over 50 mbpd for export.

For context, the trading arm of OandO generated about 57% of their annual income in 2023.
A foreign influx of USD revenue cannot be ignored. ..

OandO Group has tried severally to own a refinery either by building or acquisition.
See
https://www.oandoplc.com/press-release/oando-completes-detailed-bankable-feasibility-on-its-oil-refinery

https://dailytrust.com/fg-grants-approval-for-oando-eni-to-fix-p-harcourt-refinery/

Human AI researcher...oshey

KarlTom:
Should be between $400m and $600m

Your 'source' is probably Billionaire Africa

This is more like it, for the sake of sanity.

You're well versed in the industry.
Please what is an oil block?

Our friend Mikeapollo must own some blocks within the Oando Empire.

zendi:

God forbid !
Far be it from me to suggest crime.

You know that Maradona is a personal name.
I mean there is one good turnaround accountant by name Maradona who can help them craft an accurate Q1 Result.

Artful dodger 🤔

.

servicom101:
USDT Available
WhatsApp+2349030810528

I doubt it if you know what you're advertising and if you do then you don't have.

There always a potential buyer for it on your exchange.

SonofElElyonRet:


Artful dodger 🤔

If you wan
use Lawyer Sense catch me, I go use Maradona Sense escape.

KarlTom:
Let me drop my 2cents.

I also bore similar a view to the bolded until I did more digging.
Here's what I discovered:

1.
According to Statista, as at 2018, Trinidad and Tobago (T&T) has proven oil reserves of 214m barrels as well as natural gas deposits totalling 11trn standard cu feet (scf) – which represents 0.2% of the world’s gas reserves.
That sharp drop between 2015 and 2018 needs to be investigated.
........
....

https://energynow.tt/blog/increasing-oil-reserves-in-tampt/

Reason for the sharp drop(offshore) attributed to:
Natural causes