Nice

Steps to buy

Read

Read2

Read

Yes.

Nursepepeye:
I use to run bolt in Abuja at my free period, I had to stop when I bought #20k fuel, I made #38k with it, then bolt commission was #9k. I did plus and minus, bolt won't help me fix car, they're just Exploiting drivers.

And car parts have added money. That grant na bribe.

1. Introduction

The process of buying crude oil in Nigeria can be a challenging and daunting task for international buyers. The Nigerian market is known for its high volatility, and it's rife with individuals masquerading as crude oil sellers, leading to wasted time and effort for both buyers and sellers. This article aims to shed light on the intricacies of the crude oil market in Nigeria, particularly focusing on the truth about OPEC and Off-OPEC crude oil allocations.

2. Understanding NNPCL's Stance

Before delving into the complexities of the Nigerian crude oil market, it's essential to understand the position of the Nigerian National Petroleum Company Limited (NNPCL), which plays a central role in the industry. NNPCL explicitly states that it does not employ the services of agents or third parties for the sale and purchase of Nigerian crude oil, natural gas liquids (domestic and export), and LPG mix. Additionally, NNPCL does not introduce or recommend potential term contract holders to any third parties or agents, nor does it have any Off-OPEC allocations. The corporation also emphasizes that it does not require companies to make payments into individuals' or companies' accounts that are not designated by the government for crude oil transactions. Furthermore, NNPCL does not issue any authority to sell to individuals or companies.

3. Why This Statement Matters

NNPCL, as an OPEC registered nation, adheres to OPEC rules and regulations. This means that to purchase Nigeria's crude oil at the full OPEC price, a crude oil buyer must engage directly with NNPC, typically through negotiations that involve traveling to Nigeria. The discounts available in such transactions are minimal, often as low as $2 per barrel or none at all, making it less favorable for buyers looking for resale opportunities.


4. Understanding BLCO Off-Takers

Annually, NNPCL opens bidding for companies that meet certain criteria to participate in crude oil lifting and marketing contracts. These companies undergo rigorous technical and financial evaluations to prove their capability to lift and market Nigeria's crude oil. The contracts awarded typically grant a year-long allocation to sell Nigeria's crude oil to refineries worldwide, following established OPEC practices. These transactions offer little room for significant discounts, which may not align with the goals of buyers seeking profitable resale.

5. Exploring Off-OPEC Sales

To circumvent OPEC's production limitations and cater to the surplus crude oil production in Nigeria, Off-OPEC transactions come into play. These transactions involve organizations with the financial capacity to purchase crude oil from NNPCL on Provisional Lifting Right (PLR) FOB terms and then resell it to crude oil buyers on CIF terms. In Off-OPEC transactions, no Off-OPEC allocations are granted, and the process revolves around PLR agreements.

Many companies operate on Off-OPEC/PLR terms, but their names do not appear on NNPC's annual list of off-takers, which is reserved for companies strictly adhering to OPEC practices on behalf of the Nigerian government.

6. Verifying an Off-OPEC Allocation in Nigeria

Verifying an Off-OPEC allocation or ATS (Authority To Sell) letter from a potential crude oil seller in Nigeria is a challenging task. The NNPC does not officially acknowledge Off-OPEC allocations, and presenting such documents at NNPCL's offices in Abuja may lead to denial or even legal consequences. Some individuals might attempt to introduce buyers to sellers operating on PLR terms, facilitating transactions informally, as they cannot officially obtain allocations. The verifiable aspect in this process is the Laycan issued to the crude oil seller for loading their vessel. An unverifiable Laycan raises suspicions about the origin of the crude oil.

7. NNPCL's Denial of Off-OPEC Allocations

NNPCL's denial of Off-OPEC allocations is grounded in the fact that such allocations do not exist. Additionally, OPEC closely monitors its member countries to ensure compliance with its regulations and may impose sanctions for any violations. Therefore, NNPCL officials are vigilant and deny any knowledge of Off-OPEC allocations to avoid scrutiny.

8. Why Crude Oil Buyers Seek Off-OPEC Crude Oil Instead of OPEC Crude Oil?

Crude oil buyers in Nigeria are driven by the desire for cost savings. When purchasing through OPEC allocations, they pay the full Brent price or sometimes a mere $2 discount per barrel. In contrast, Off-OPEC transactions can yield discounts of up to $6 NET per barrel for exports to Europe and up to $8 per barrel for exports to West African countries. These savings allow buyers to remain competitive in the global market.

9. Navigating Off-OPEC Transactions

To successfully buy crude oil from the Nigerian Off-OPEC market, buyers must take several steps:

Find a credible crude oil seller experienced in Off-OPEC transactions.
Communicate directly with the seller's mandates or facilitators, as sellers can be elusive.
Engage in negotiations regarding terms, discounts, and procedures.
Note that NNPCL sells crude oil on FOB terms for both OPEC and Off-OPEC (PLR) transactions.
Ensure that the seller covers insurance, clearance, and transportation costs to ship crude oil on CIF terms.
Verify the seller's Laycan, vessel documents, and other necessary documents before shipment.
It's crucial to recognize that procedures may vary depending on the seller, and inexperienced Off-OPEC sellers may make critical mistakes in selecting financial instruments or procedures, potentially leading to issues with distressed vessels.

10. Do ATS and PPOP verification Exist?

NNPC does not issue Off-OPEC allocations, so any ATS (Authority To Sell) and PPOP (Partial Proof Of Product) indicating a bulk allocation should be treated as fake. To mitigate risks, buyers should ensure that sellers post a performance bond, possibly upfront, to demonstrate their financial commitment to the transaction.

11. Conclusion and Call to Action

Navigating the Nigerian crude oil market, whether within OPEC or Off-OPEC transactions, is undoubtedly a formidable task. However, armed with knowledge and a willingness to adapt, success is within reach for determined buyers.

If you are a prospective crude oil buyer interested in the Off-OPEC market, here's a call to action:

11.1. Educate Yourself: Continue your research and delve deeper into the intricacies of the Nigerian crude oil market. Understanding the market nuances and regulations will empower you in your journey.

11.2. Seek Expert Guidance: Given the challenges of finding reliable sellers, consider partnering with reputable Nigerian organizations or industry experts who can serve as your buyer mandate. Their local expertise can be invaluable in vetting sellers and facilitating transactions.

11.3. Network and Build Relationships: Establishing connections within the Nigerian crude oil industry can open doors to credible sellers. Attend industry events, conferences, and engage with professionals in the field to expand your network.

11.4. Exercise Due Diligence: Whether you are dealing with OPEC or Off-OPEC transactions, always prioritize due diligence. Verify documents, scrutinize agreements, and insist on transparency to protect your interests.

11.4. Consider Risk Mitigation: To safeguard your investment, explore options for risk mitigation such as performance bonds and financial instruments that provide both parties with confidence in the transaction.

11.5. Stay Persistent: The Nigerian crude oil market can be challenging, but persistence often pays off. Be prepared for the negotiation process, and don't be discouraged by setbacks.

Sources: https://barnabasuche.com/how-to-buy-crude-oil-blco-in-nigeria-navigating-opec-and-off-opec-crude-oil-allocations/

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Hi Everyone, I saw this great content on Charles Awuzie social media wall and I felt to share here with his permission.

Nobody talks about this...

Michael Phelps, one of the world's most decorated Olympians, worth over $100m was asked how he felt on the night he achieved his greatest Victory and he said he got depressed. According to him, "He sat in his London hotel room, depressed as sh!t, thinking about ki1ling himself and just laid there, unable to eat, sleep or get out of bed for the better part of five days."

Post Success Depression is the depression that follows a major achievement.

Here's the best way to relate with this - imagine you are in a committed relationship but you have a crush on someone else. Then boom, it happens. You sleep over at the hotel to the next day. You wake up next morning with more questions than answers. You lay next to them wondering what next. They probably didn't meet ALL your expectations and you have finally demystified the mysterious idea that gave you sleepless nights. You have achieved a s£xual milestone and you are not sure what happens next especially because you are in another committed relationship elsewhere. Whatever runs through your head at that moment is the same feeling you will have after you achieve your next biggest goal.

Some years ago, a mentee wanted to buy a Rolls Royce. I warned him to stay away from Rolls Royce except if it's a business NEED. I told him that it will depress him more if he's buying it to satisfy his material lust. He told me he'll be happier if he buys the beast. Well, he did, threw a party but when everyone left the next morning, he called me and said "You were right Dr. Charles. The people who came here to celebrate with me are happier than me." I smiled and told him that I've been where he is.

There's someone reading this post who is saying "let me get there first". I have bad news for you - THERE'S NOTHING LIKE THERE. The day you get there, you will discover that "There" was a mirage. It doesn't exist and that disappointment is what brings Post Success Depression. This is where you will start misbehaving with money - spraying money on nude girls, becoming a pervert, desiring impossible fantasies and even playing demi-god. You will buy car after car - not because you need them but because you are depressed and you don't know what to do with your life. You have reached the peak of your life and you want more out of life but there seems to be nothing more except perversion.

This is why every successful person needs a mentor who has walked the path.

In Africa, we seek a mentor when we are broke but run away from mentorship when we make money. But smart people know that they need mentorship the most when they become successful. This is why Bill Gates won't let go of Warren Buffett - his sanity depends on him. Dangote holds tightly to Bill Gates. And Otedola won't let go of Dangote.

Don't get me wrong, success will excite you. You will feel on top of your world. You will explore, travel and even f***k a few models. Then depression sets in. This point is called POST SUCCESS DEPRESSION. If you are already here, reach out to me. You need to fill that EMPTINESS with Purpose, not alcohol or fun.
If you are yet to reach there, be careful. Do not seek to experience everything at once. I know you can afford all your fantasies - but it's wise to delay gratification.

My name is Charles Awuzie and I coach both the rich and the poor.

Gmone:
Are you tired of everyone wanting to have you or beat your privacy all in the name of love? Do you want to know how to say NO to unwanted advances?

Read this free kiddle book for practical steps with instances. Its just a short book, no fear.


Book link: https://amzn.to/41eOOTK

Have you read this?

Before you rent any apartment anywhere please try to make proper consultations.

Come around at least twice or trice and jokingly engage neighbours to know about the neighborhood.

And please, try to enquire whether you are the first person to occupy the room or someone has checked out of the room.

If actually someone has parked out look for the person's contact and talk to him/her. Ask questions about the house and know why they left.

This may save you a lot of trouble.

Some house will run you down financially because of the evil foundation laid before it was built.

The house i was staying before here in Lagos, every midnight i will hear a baby crying and some times adult will be crying and one day i started seeing Bitter kola in my Bathroom...... i had to borrow money and pack out that house before they kill me.

Some Landlords are using their Tenants Destiny.
there is one house in my street, once you park after some months the person will hit financial problems from there the person will die... it was when the Landlord now die that this problem stopped in the house.

Ask questions before you rent any apartment.
The landlord himself may know but never tell you because what he wants is just the money.

Pls and Pls lets be our brothers keeper by sharing this post to all groups and pages so as to open the eyes of people that want to rent House.... you might even save someone close to you with this post....alot is happening.

pls share your own experience about evil house you have lived and if possible drop the address so that no one will fall victim of that house again.

#atandaolatunji

Copied.
www.barnabasuche.com

olisaEze:
Even GWR is observing Tinubu and his sign-a-thon with 'aMAIZEment' so don’t be bothered if you think he’s signing your destinies away! The important thing there is he’s experienced in signing! There are less cars on the roads now and foodstuff prices have gone to astronomical levels. But no worry, Oga at the top is experienced! What he’s experienced in is what I don’t know, but he’s sha experienced according to his aMAIZEing supporters!

When someone is playing out someone else's Manifesto, the person may end up causing disaster.

Weybuhari:
That's not all, the applicant (s) will need the VC to sign your application ooo. Some VCs scarce pass president

Lol

SpatialKing:
You might not be able to leave Nigeria or japa if you are defaulting on the loan..

Lol

Gmone:
Are you tired of everyone wanting to have you or beat your privacy all in the name of love? Do you want to know how to say NO to unwanted advances?

Read this free kiddle book for practical steps with instances. Its just a short book, no fear.


Book link: https://amzn.to/41eOOTK

Have read this book?

techmo:
An Applicant or Parents must earn less than 500,000

How many applicants earn 500,000 a year

That's not even the issue.. Read down.. We Nigerian need to take time and read oo.. Politicians go use letter sell us.

I noticed some people are happy about the Student Loan

Some even said "Tinubu can continue, he is taking hard decisions".

For that reason, I have decided to break down the smokescreen called Student Loan

It's just an attempt to remove "Education Subsidy" without causing an uproar.

Now let's dive in:

Who qualifies for the Student Loan:

The simple answer is: NOBODY.

It's almost impossible for you to qualify for the Student Loan and here is why

1. An Applicant or his parents must provide tax clearance: This is not totally bad till you see number 2.

2. The Applicants or his parents must be earning total income less than #500k a year. Now slow down and do the maths

To earn #500k a year means that the husband and wife are earning less than #41,000 a month. That is #20,000 each

While minimum wage is #30,000

Which means if your both parents are earning, you are automatically disqualified because they are either earning more than #41,000 or they do not pay tax because you cannot pay tax on salary below minimum wage.

3. Now here is the high jump of the Act: These 2 people earning less than #50,000 will now have to provide a DIRECTOR IN CIVIL SERVICE and a LAWYER OF 10YEARS IN SERVICE as Guarantor

Take into consideration, yourself doing good for yourself, do you know DIRECTOR in Civil Service?

But that is not the worst part

4. The Director and the Lawyer have to surety that if you default, they will pay the loan

Do you know what that means? NO DIRECTOR WILL TAKE SUCH SURETY.

But here is the worst part

5. After you meet all these requirements, will you get the loan? NO!

The act said "Loan will be given when funds are available. In other terms, you are still at the mercy of the system"

In summary:

If you add your father and mother's income monthly, it must not be more than #41,000 a month or #500,000 a year

Your father and mother must look for a Director in Civil Service to Surety your loan

The Director will send his Payslip document to the Bank saying that if you fail to pay, he will pay. Who will do this one for you?

Did I tell you that the Bank MD will be the one to give approval? Bank MD!

Did I also tell you that if you don't start repaying after 2years of graduation, you will go to jail? 😩

Many graduate have not even gone to NYSC in 2years after graduation

The worst part now is: School Fees will go up above the loan amount because Federal Government has announced that they cannot continue to fund Universities.

So if you are reading this, you are not qualified for the Loan.

Copied.

The above is the summary of the conditions and requirements for accessing students loan.

What do you think?

chieveboy:


Lol

If Christians know certain things eh, hmm

Asides from my own experience with TB Joshua, try get the book "The TB Joshua I Know" by Bisola Hephzi-bah Johnson.

You can watch her interviews on YouTube.


https://www.youtube.com/watch?v=vS_YW_RUQTA&t=3205s

What is the condition of this man you posted his videos? He is no where to be found. He was busy criticizing men of God but now matter don change

MrBrownJay1:
so women now need to buy some books to learn how to simply say NO THANK YOU... ?!?!?!?

.

Yes. You win in life by how much you know.

Have you read this?

I suggest you read https://www.amazon.com/HOW-SAY-NO-UNWANTED-ADVANCES-ebook/dp/B0BY6ZXTMZ

MrBrownJay1:
so women now need to buy some books to learn how to simply say NO THANK YOU... ?!?!?!?

A lot of wisdom is hidden in the book.

Are you tired of everyone wanting to have you or beat your privacy all in the name of love? Do you want to know how to say NO to unwanted advances?

Read this free kiddle book for practical steps with instances. Its just a short book, no fear.


Book link: https://amzn.to/41eOOTK