OTCPK:MAUXF - Post by User
Comment by
mjh9413on Jul 08, 2015 2:37pm
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Post# 23904079
RE:Nigeria loses N59.6bn to pipeline vandalism — NNPC
RE:Nigeria loses N59.6bn to pipeline vandalism — NNPCGuess one can double that to add in amounts siphoned off in other ways by corrupt officials!!!<br /> Yes, you have to have been under a stone not to realise the 17%+ losses accruing to MMT and co-venturers. Of course the Forcados is only 10% or so!!!<br /> Interesting note about refining capacity...did not realise Nigeria had any to speak of but then they use only 15 to 20% of their capacity...what a poorly run economy!!!<br /> Still have had no confrimation from DShell of actual Umigini receipts...again, are they getting paid for what Shell do receive. Wonder if the Agreement is anything like the Agip deal where they get paid based on deliverable forecast and then make adjustments.<br /> All pretty moot I guess since Midwestern wud be mad not to take out MMT at 80c., despite all this doom and gloom and prevailing commodity price risk as oil output goes up and then they have natgas on the new concession.<br /> <br />