OTCPK:MAUXF - Post by User
Post by
stockpeekeron Jul 31, 2011 11:13pm
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Post# 18892068
Nigerian Business = Sticky Wicket
Nigerian Business = Sticky WicketGeesche! Doing business in Nigeria is difficult, and I guess the reality is we cannot assume standard "western" business practices apply. AGIP is raising the fee because they can. One wouldn't have expected them to limit MMT's access to their pipeline pending negotiation of a longterm deal that is demanded by AGIP. Makes me think AGIP may be claiming losses on the pipeline while selling the oil elsewhere (cooking their books to make their under-the-table dealings end up looking like pipeline losses.
Would be great if Nigerian local government would support Mart over AGIP, but not at all likely. The big guys have the clout.
Frustrating ...
'peeker