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Nairaland Forum / Nairaland / General / Politics / Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? (13316 Views)
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Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Zikkyy(m): 10:38am On Jul 12, 2012 |
wesley80: Safe to assume the 20 or so companies that scrambled for refining licences in anticipation of total deregulation of the downstream sector did so cos somewhere in Texazzpete's grandma thot me logic, they all desire lesser profit. Come to think of it, Shell, Total, Mobil et al are involved in numerous biz lines in Ngr just like they are in other countries aroun the world cos of the super profit they make. Not so, genius? Refining is indeed a low profit margin business (anywhere in the world). There's probably more to the agreement than we know. I don't see reasoning for 'Vulcan' pumping $4.5billion into uncertainty (on the assumption that this is not another home video from the aso rock movie production unit). |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by debosky(m): 11:21am On Jul 12, 2012 |
Big on words but low on substance - seems to be your specialty. ![]() I have not leaned on 'inanities' - Vulcan, by their own admission, aim to build refineries for local consumption. You claim it is a 'goldmine' while industry data shows it is not, particularly in price-controlled environments. Pay attention - we are discussing Vulcan's entry into the sector not vague references to 'possibilities' that may/may not be feasible. Vulcan's entry relates to refining for local consumption, making your reference to 'possibility for export' irrelevant to this discourse. As for enlightening you, it's a waste of time trying to enlighten an individual blinded by his own hubris. I don't do lost causes. ![]() Stick to defending GEJ if you want, my posts are clearly not about that - some people have the the ability to analyse a proposal on its technical/financial merit aside from political considerations. |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by wesley80(m): 3:09pm On Jul 12, 2012 |
If introspection wasn't too much of a luxury to you, I'm sure by now you would've realized just how little you actually know abt this deal. In shooting it down and dismissing it off as a fraud what have been your reasons? They'd only handled smaller contracts in the past? - well they just landed a biggie!, That Kobo couldn't locate their NY address? like since when did Kobo become a Private Investigator? Ok so their org seems to have been confused with Paul Allens Vulcan a number of times- well so what? as long as they r involved in legitimate biz of their own. They got involved in a bad deal in Sokoto - So why's the Sokoto state govt quiet over this? Why haven't they instituted some sort of action against the company? why are the whistle blowers a bunch of folks that do not know jack abt the contract? And oh, that fellow Mansfield doesn't seem to be a very nice person, to think he hates Nigerians and allows his dog in heat to plod around staining his home with blood! - yeah, so what should we sue him for, un-niceness? And yes oh yes, refineries aren't a goldmine, it is actually a low-profit-yielding business - True, that's if you expect to break-even in a year or two and expect to cash your total ROI in same period. The vagaries of the petroleum industry are well documented, a huge profit margin could narrow the next day and none is immune. Refineries are huge capital projects with considerable gestation periods but its yield is a given and more so for a new refinery with lesser cost of maintenance. Perhaps I shouldve called it a "money-mine″ instead. So at the end what do you have driving your negativity? Simple disgusting mischievous Pessimism! Of course guided optimism won't be out of place - what with our chequered history of failed and questionable deals- I know my optimism is cautious even the dude that signed the deal expressed some sort of cautious optimism. But to dismiss this as a fraud without cogent but merely simplistic arguments while trudging from post to post brandishing your credentials in all verbosity as "the man who invented grammar" is just sad. |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Kobojunkie: 4:10pm On Jul 27, 2012 |
Definitely should email the info gathered to the email address that the US has provided. |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Nobody: 9:26am On Jul 30, 2012 |
FG, Vulcan $4.5bn refinery deal raises doubts ![]() The Federal Government’s Memorandum of Understanding (MoU) with a U.S.-Nigerian joint venture to build six modular refineries with a combined capacity of 180,000 barrels a day is raising doubts among analysts who question the nature of the deal.Source |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Gbawe: 9:40am On Jul 30, 2012 |
eGuerrilla: FG, Vulcan $4.5bn refinery deal raises doubts My guy, very obvious that it was only clowns and GEJ/government sycophants who spoke in support of this nonsense on this thread. Line up a 100 experts and they will, in 5 seconds flat, conclude what we all did here bar the m.o.ron.ic reprobates who can never rise above glaring dishonesty because of sycophancy. Precisely what many of us have stated here is what your article repeats. It is not Rocket Science abeg. Gbawe wrote: The fact remains that a clandestine and incongruous partnership, rushed through without transparency, and excluding the best operators Nigeria would have no problems attracting, is not what the 7th largest producer of crude in the world, and its people, deserve. You don't possess gold worth millions many want to pay millions for only to insist you want to deal with those who operate in thousands. Nonsense. |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Kobojunkie: 9:42am On Jul 30, 2012 |
ooh!! I think the emails paid off . . . WOOHOO!!!! |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Nobody: 10:07am On Jul 30, 2012 |
Modular refineries and the begging option- WEDNESDAY, 25 JULY 2012 00:00 EDITOR OPINION - EDITORIAL TRADE and Investment Minister, Olusegun Aganga, early this month signed a tripartite Memorandum of Understanding (MoU) for the construction of six modular refineries in the country. Other signatories represented Vulcan Petroleum Resources Limited (an American firm that does not bear the more familiar tag of Inc.) and Petroleum Refining and Strategic Reserve Limited, a Nigerian company. The combined refining capacity of the proposed refineries is 180,000 barrels of crude oil per day, which represents six-sevenths of the capacity of one of the two refineries in Port Harcourt.Source |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by wesley80(m): 10:10am On Jul 30, 2012 |
You mean they only 'raised doubts'? Lol. I thought Vulcan was some phoney company hiding under Paul Allen and your investigative prowess was supposed to bring that all out to the fore? So now we have Rewane expressing doubts over inadequate info and you feel vindicated? Surely when success eludes the lame even a dirge would sound like a victory song! I believe the problem here is a lack of basic understanding of what this project entails. To help you out, just find out what a 'modular refinery' actually means before you come running your mouths and shouting eureka over your obvious foolishness. |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Nobody: 10:18am On Jul 30, 2012 |
wesley80: You mean they only 'raised doubts'? Lol. I thought Vulcan was some phoney company hiding under Paul Allen and your investigative prowess was supposed to bring that all out to the fore? So now we have Rewane expressing doubts over inadequate info and you feel vindicated? Surely when success eludes the lame even a dirge would sound like a victory song! Why don't you regale us with proof of Vulcan Petroleum's track record in this field before rubbing your hands with glee? |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by wesley80(m): 10:35am On Jul 30, 2012 |
^No, you regale us with proof of their endless failures before inundating us with incurable pessimism. |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Bawss1(m): 10:54am On Jul 30, 2012 |
wesley80: ^No, you regale us with proof of their endless failures before inundating us with incurable pessimism.Even with all the concerns raised above you remain optimistic. Seriously? |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by debosky(m): 12:17pm On Jul 30, 2012 |
There is still no publicly available information on where Vulcan intends to site its refineries - under Nigerian law, typically require environmental impact assessments (EIAs) for the identified sites, structural surveys, etc before you can gain approval for construction. If you are laying pipelines, you must apply for right of way (ROW) which will be captured in newspapers and publicly displayed in government offices for people to go in and view, in order to make objections where required. There is no evidence that any of the above processes have begun, yet the first two plants are expected to be completed in the next 12 months (starting from July)? One month is nearly up - 11 months and counting to go. Interesting to say the least. ![]() |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by ektbear: 1:18am On Jul 31, 2012 |
Q: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? A: No. 1 Like |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by dalhatuLY: 4:57pm On Feb 28, 2015 |
wesley80: I am a resident in Katampe, Abuja where this company resides within our estate. There is nothing about the article I cannot confirm except for the dog bleeding...sadly though the dog died barely a month I moved in. Jim has been away for 9 months or so. No salaries paid to their staff. They sabotaged their NEPA metre, they don't pay monthly service charge etc |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by TheOtherview: 5:12pm On Feb 28, 2015 |
Where is Wesley 80 at? Where are the Damn refineries? |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Nobody: 5:49pm On Feb 28, 2015 |
TheOtherview: reincarnated as a ' gej till 2019' tanbot 1 Like |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by TheOtherview: 6:30pm On Feb 28, 2015 |
oyb: I suspected that much. Lol |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by dalhatuLY: 6:42pm On Feb 28, 2015 |
I stay in the same estate as Jim Mansfield and his dog before she passed away. He left his staff and some policemen on their payroll still owed over 9 months in salaries and allowances. The police left a while back and are now puzzled because the staff staying in the apartment have been fighting themselves over the property within the house....obviously they want to beat each other to selling things in the house. Jim even tampered with the NEPA prepaid metre in order not to pay...they enjoyed NEPA free for quite a while. I currently have in my possession a name card of one of their employees here called Michael Esiso (Project Director). The company name on it is Vulcan Energy International (Member of the Vulcan Energy Group, New York, USA). The website reference on the name card is www.vulcancapital.com So its not malice but information to share with unsuspecting Nigerians so they will not be caught with their pants down. 2 Likes 1 Share |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Olaone1: 10:34pm On Feb 28, 2015 |
6 refineries ![]() ![]() ![]() Jungle ![]() 1 Like |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by Demdem(m): 1:31am On Mar 01, 2015 |
hercules07: The prophet of our time. ![]() 2 Likes |
Re: Is Vulcan Energy LLC Really Going To Build Six New Oil Refineries? by TheOtherview: 7:27pm On Mar 02, 2015 |
dalhatuLY: Thanks for plugging the information gap concerning Jim Mansfield's inglorious exit. With a local comprador class that will stop at nothing to mortgage our oil industry; is it any wonder that 'economic hit men' of his ilk head to Abuja , for rich pickings? |
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