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Nairaland Forum / Nairaland / General / Jobs/Vacancies / NNPC Aptitude Test On December 6, 2014 (751486 Views)
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Re: NNPC Aptitude Test On December 6, 2014 by KINGTELLER: 11:20am On Mar 13, 2015 |
SomBaby: Defence minister.. ![]() ![]() ![]() ![]() ![]() ![]() ![]() 5 Likes |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 12:13pm On Mar 13, 2015 |
SomBaby, what would this thread have been like without you? 1 Like |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 12:22pm On Mar 13, 2015 |
babacha: I have found out, that is why I can make bold to say your assertion was patently false. For example, a PSC is a variant of a JV and it allows for less Government stake in the agreement than what obtained during the JV days. FGs stake in some of those agreements are now between 51-40% as against 60% some 20 years ago. I know some JVs still exist but most of the agreements in the E and P sector are now PSCs. This therefore invalidates your claim that "FG owns 60% of whatever any E and P company produces in Nigeria". I can explain more but I am a bit engaged. Can you ask yourself why FG seem to be phasing out the JVs for PSCs these days? What is the significant difference between these 2 agreements? 2 Likes |
Re: NNPC Aptitude Test On December 6, 2014 by babacha: 3:21pm On Mar 13, 2015 |
Eruditor: I don't need to drag words with u cos if u know wat u are saying, u will not be missing up words and u would have kown dat NLNG is not E&P. Is not only in nigeria it happen, u cannot enter any country and exploit their oil without the govt of dat country having the larger share of wat u produce, it is an agreement. Dat u must sign before u start producing not a JV, ask those who work in the rig. Wat DPR and NNPC staff come there to do 1 Like 2 Shares |
Re: NNPC Aptitude Test On December 6, 2014 by babacha: 3:38pm On Mar 13, 2015 |
Eruditor: Educate urself with dis information I copy from nnpc websit "As with many other developing countries, the multinationals in Nigeria had been operating under what is called a concession system, with NNPC being the concessionaire, while the companies are the operators". I don't even know dat is eruditor am trying to educate, why wasting my time. Sorry Mr eruditor the nnpc dictionary 2 Likes 1 Share |
Re: NNPC Aptitude Test On December 6, 2014 by softrise: 5:13pm On Mar 13, 2015 |
Please pals, In which of the NNPC subsidiaries should someone that studied Mechanical Engineering suggest they post him during the interview. |
Re: NNPC Aptitude Test On December 6, 2014 by GeneralSnipper: 6:16pm On Mar 13, 2015 |
babacha: Babacha! Make we hear word abeg. Why you dey drag nah..............Na quarell? Instead make you learn from other people opinion, you dey argue. Nah u get NNPC?Shuooooòooooooo. Abeg rest bros............. Eruditor! Oga Principal, Na only you stroll enter here with all the grammar oooo. Which one you nor dey? ![]() |
Re: NNPC Aptitude Test On December 6, 2014 by xdamson: 6:16pm On Mar 13, 2015 |
Hi guys, which subsidiary can a Physics graduate work in? |
Re: NNPC Aptitude Test On December 6, 2014 by Nobody: 7:01pm On Mar 13, 2015 |
delivery is everything. Correction which is delivered in a condescending manner can never be accepted. Academic intelligence alone is not enough, we must strive to attain social and emotional intelligence as well. Only a combination of these can be termed as true intelligence else u would never get far with only the former. 9 Likes 3 Shares |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 7:17pm On Mar 13, 2015 |
babacha: What is a JV? Who said anything about NLNG? |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 7:19pm On Mar 13, 2015 |
babacha: You are hyperventilating. What is a JV? How does it differ from a PSC? |
Re: NNPC Aptitude Test On December 6, 2014 by aligs: 10:14pm On Mar 13, 2015 |
Badema: First of all, Nigerians, graduates of Nigerian universities and all those that understand ordinary Nigerian behaviour understand the academic concept of "BACK TO SENDER" and this implies that once NNPC has written on their legal website that HYSON and DUKE OIL are subsidiaries of NNPC, then they are Subsidiaries of NNPC whether they really are or not. Therefore any one that thinks otherwise better be ready to prove it beyond doubt if asked while increasing the risks of failing the interview. 3 Likes |
Re: NNPC Aptitude Test On December 6, 2014 by babacha: 10:16pm On Mar 13, 2015 |
Eruditor: Lol, chairman I loyal, no vex, why I go know watin be JV, I no go school oooo, na u go school, abeg teacher eruditor teach us some tin |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 10:28pm On Mar 13, 2015 |
babacha: Find out what it means and see if it applies to your "NNPC-owns-60%-of-whatever-any-E-and-P-company- produces-in-Nigeria" theory. It is not even feasible. |
Re: NNPC Aptitude Test On December 6, 2014 by executivegej: 11:08pm On Mar 13, 2015 |
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Re: NNPC Aptitude Test On December 6, 2014 by scarletdp(m): 11:47pm On Mar 13, 2015 |
Some people no even wan agree wetin dey NNPC website. As in ehn.. I'm amazed... people wey you wan work for tell you for their website say see as something be, u wan prove them wrong because Wikipedia or some website talk another thing. Okay. I had to use pidgin coz I didn't know how else to pass my msg. |
Re: NNPC Aptitude Test On December 6, 2014 by babacha: 11:51pm On Mar 13, 2015 |
Eruditor: Is only a fool dat drag words with Eruditor, just to tell u, my company is a servicing company to Agip and I spend 14 days at Agip production facility and 14 days in my house. I don't need to know what is JV and PSC before I can tell u dat NNPC own 60% watever any E&P produce. Any way u are just a young graduate who has no field experience so wat is the point of draging words with u 5 Likes 1 Share |
Re: NNPC Aptitude Test On December 6, 2014 by TruthisOut: 12:08am On Mar 14, 2015 |
Eruditor: I wonder why people think that when they use "big" words to express themselves they appear better or more knowledgeable. My advice is keep it simple. Well it is none of my business ![]() ![]() ![]() 10 Likes 1 Share |
Re: NNPC Aptitude Test On December 6, 2014 by Badema: 2:11am On Mar 14, 2015 |
aligs: Well I didn't actually sent it to you, let alone u sending it back, if u care todo some digging, u will come up with a mindset regarding subsidiary-JVC relationship n how both can mean either way, I was at Hyson for a couple of months, I hv read all n heard all d basics right from 1989 to recent days. If u take hyson to be a subsidiary, yes I would accept but only when you refer to that as not 'wholly-owned' by NNPC, which practically gives room for a JVC arrangement. And yes, of course Hyson is a JVC, MD n EDS from NNPC, EDO from Vitol. Kindly feel free to avail urself at the Pent house, Ceddi plaza, CBD. For verification and re-affirmation. |
Re: NNPC Aptitude Test On December 6, 2014 by Badema: 2:17am On Mar 14, 2015 |
babacha: Well you didnt care to indicate which of the two has its office at 'Pagama' as you clearly referred "that is why THEIR Office is in pagama", adding "both are subs...." in ur next sentence. Thanks for the update on E&P. |
Re: NNPC Aptitude Test On December 6, 2014 by scarletdp(m): 5:51am On Mar 14, 2015 |
TruthisOut: He wants a piece of the pie. *shouts* Waiter!!!... 1 Like |
Re: NNPC Aptitude Test On December 6, 2014 by SomBaby(f): 7:34am On Mar 14, 2015 |
]pls its not pagama...u ve indicated it here more than often..it is panama...ok.. |
Re: NNPC Aptitude Test On December 6, 2014 by SomBaby(f): 7:46am On Mar 14, 2015 |
babacha:sorry bro...u just referred to urself as a fool...all cos of dis argument...pls U mayb rite but for what it's worth, pls don't loose ur cool or go over d edge just in d name of teaching or learning...mind U...we re also learning...cos I don't knw if I wuld ve dat patience snooping arnd nnpc website.pls keep it up but put down d resentment coz U wuldnt want to get on d other side of my eruditor....u just threw d first punch...pls don't throw another for d sake of peace... 1 Like |
Re: NNPC Aptitude Test On December 6, 2014 by CaptShinz: 8:14am On Mar 14, 2015 |
Eruditor:After observation.... Eruditor u got this one wrong... Dont know much about PSCs buh I can tell u d present JVs suchs MPN,Chevron and Total E&P runs on 60/40 wich means NNPC owns 60% stake i.e dey drop 60% of capital for a project and also get 60% of the profit.... Like I told u I work in one of these MNC and also u are free to read from the website of either Mobil or chevron to get 1st hand info... Wish I could give a document to prove ds but MPI is against such.... We live we learn bro |
Re: NNPC Aptitude Test On December 6, 2014 by prelinctus: 9:17am On Mar 14, 2015 |
SomBaby:When someone referred to you as 'Minister of Defence' earlier on, I thought it was a joke. Now you're beginning to sound like one. 7 Likes |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 9:51am On Mar 14, 2015 |
babacha: If I am to reply you with the same tone and in the same manner the Dalai Lama of this thread will start preaching a sermon on Emotional intelligence. Anyways, experience has shown me that when people are bereft of points, they resort to adhominem or verecundiam. Also, that you stay 2 weeks off and on a facility doesn't afford you the knowledge you so forcefully want to push on others. I know roustabouts and roughnecks who stay longer and they still don't know anything. FYI you need to know about JVs and PSCs before you can know what is being discussed, let alone tell me anything. 1 Like |
Re: NNPC Aptitude Test On December 6, 2014 by mastereyebee: 10:13am On Mar 14, 2015 |
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Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 10:23am On Mar 14, 2015 |
CaptShinz: 1. Your explanation of JVs is correct but FG doesn't just take 60% of the profit, they own 60% of the whole revenue (Total oil produced). The MNC disburses it to the CBN on behalf of the FG while NNPC keeps a fraction for Cash calls, priority projects and domestic refining. 2. With that in mind, FG is mandated to provide 60% of the capital needed at each time T for any project starting from the exploratory or prospecting stage to the production stage. Recall, we are talking about multibillion dollar investments here. So FG is expected to cough out such billions (in totality) dealing with "all the IOCs and indigenous companies" as some have erroneously asserted. 3. This is the same FG that has recurrent expenditures, capital expenditures, Federal allocations to disburse to states, service loans and debts etc. While funding all such multibillion dollar E and P projects (which could fail, if after the exploration exercise, commercial quantities of the oil isn't discovered). 4. The challenge arose that FG wasn't meeting up to the JV agreements as and when due, consequently stalling alot of deals and causing the overall cost of the projects to increase (interest rates etc.) I will continue in a separate post as I don't want to make this one lengthy. |
Re: NNPC Aptitude Test On December 6, 2014 by dapsy06: 10:43am On Mar 14, 2015 |
prelinctus: No she is not, she is the chief media secretary and solicitor in chief for Eruditor campaign group. ![]() 7 Likes |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 10:49am On Mar 14, 2015 |
CaptShinz: 5. There were 3 solutions to the aforementioned problems. a) PSC b) Concessionaire Arrangement c) joint entity. B and C are beyond what is being discussed, so I would talk about only A. 6. PSC is a variant of the JV and it was introduced from 1991 FOR ALL NEW ACREAGES. The major disparity between it and a JV is that in the latter, FG takes 60% of the risk and expenses but in a PSC FG only comes in after the exploration exercise. 7. This implies that all the risks and expenses are shouldered by the MNC until commercial quantities of crude are discovered then FG signs a PSC with the MNC. Now you can see why that talk of 60:40 in ALL E and P activities is vacuous and false. No sensible company will give FG 60% in a PSC for example knowing that FG shouldered a lesser risk. On the flipside, no responsible FG will demand 60% in such an agreement as it would scare off investors. 8. Crude from a PSC are divided into 3 ways: i) cost oil ii) tax oil iii) profit oil. i) is the cost the company incurred while prospecting and producing. FG lets them make their investment back. ii) is the fraction from which the MNCs pay their taxes and royalties. iii) is now the profit aspect of the crude and this is where FG can get a chunk, say 60% of the value. Cummulatively, one can see that the OVERALL FGs stake cannot be 60%. Also, take note that not all MNCs or indigenous companies use a JV with NNPC. So it is very fallacious for anyone to claim that FG gets 60% of all crude produced. 4 Likes |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 11:00am On Mar 14, 2015 |
CaptShinz: In conclusion, the real question we can ask ourselves is if ALL the IOCs and indigenous companies have JV agreements with the FG? The answer is a resounding no. That doesn't go without saying that I know some JVs still exist but it is specific for the location and most times companies in question. So ExxonMobil could be using JV for a particular location and yet PSC for another. The PIB will address such. You can take everything I have just said to a superior at your workplace or you can do your own private research. |
Re: NNPC Aptitude Test On December 6, 2014 by Eruditor: 11:01am On Mar 14, 2015 |
SomBaby, I am the one who clicked 'Like' under your post. 1 Like |
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