SODOMIZED AGAIN! NAJIB TO HAND OVER MORE ‘FREE BILLIONS’ TO KING SALMAN IN ARAMCO-PETRONAS DEAL? AND FOR WHAT – ANY HIDDEN SIDE DEALS?

This is from The Star here

Tuesday, 14 March 2017

Long deadline for Saudi Aramco deal with Petronas

Saudi Aramco acquire 50% stake in refinery, cracker in (Rapid)
6,242-acre PIC is Petronas’ largest downstream project

Aramco seeking concessions in terms of valuation of deal
discount is believed to be > US$500mil equivalent for JV

agreement signed two weeks ago
discussions intensified between two groups
take time for definitive agreement to be inked

(My comments : Belum invest apa-apa pun, Pak Arab sudah mula nak liwat Petronas dah. They already want a US500m discount (RM2.2 billion). Knowing the kabilah bahalol, they will probably give in. Like Khazanah got liwatted by the Arabs the last time in Johor. Or the Arabs helped liwat 1MDB.)

final terms of Aramco JV to be firmed up only within a year’s time

(My comments : So what is the point of discussing the valuation now? The project has already started. Petronas has already invested billions or hundreds of millions. 12 months from now, more millions would have been spent. Surely the value of the project 12 months down the road will be much higher than today.

If the Arabs put money on the table today then you fix the value today.
If the Arabs are going to put money into the project 12 months down the road, then fix the value 12 months down the road. Dont get liwatted like Khazanah.)

Petronas looking at what Aramco can offer before agreeing to any concessions
other matters have to be determined
For example, who will be tasked with marketing
determining appropriate personnel to run operations

(My comments : Jangan jadi bodoh brader. Think outside the box sikit lah. If Petronas goes to Saudi Arabia and enters into a 50/50 JV over there, do you think the Saudis will trust you with the marketing and determining the personnel? Not likely kan?

So why do you even have to bring this topic up? This is an opportunity for the Saudis to come here and profit from our country and our resources. This means you state the terms. Also physical ownership of the site gives you a huge say. I hope you can understand what this means.

Beware of Arabs and mamaks offering to market your products for you.

What is the pricing mechanism? What is the guarantee that they will not set up multiple layer ‘buyers’ and cream off the profits.

And if they offer offtakes, again what is the pricing mechanism? The camel is hiding in the details.)

Aramco will supply up to 70% of Rapid refinery’s crude feedstock

(My comments : If they supply even 30% of your feedstock, they can hold you and squeeze you by the cojones – no matter what contract you sign. Jangan jadi bodoh.

And again what is the term of such contracts and what is the pricing mechanism?

I am reminded of Malaysian Airlines buying fuel on long contracts. Then when fuel prices crashed, MAS was left with a huge loss.

The analyst fellows say right now there are 60 MILLION BARRELS of oil within swimming distance of Johor – stored on board idle oil tankers and other floating storage in Singapore. It wont last forever but the world will never run short of oil again – ever. You should know this better.)

So you are going to:

i. give the Arabs a US$500 million discounted valuation already
ii. then the Arabs may come in with their money maybe a year later
iii. they will hold a 50% stake
iv. they will control marketing
v. they will control management
vi. they will supply 70% feedstock

Melayu takkan hilang di donya selagi ada mamak berjuang untoknya.

– http://syedsoutsidethebox.blogspot.my

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