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FINANCING

Shell Paid $1.09 Billion in Taxes and Royalties to Fed. Government Last Year

………by Ben Ndubuwa……Shell has paid a total of $1.09 billion in corporate taxes and royalties to the federal government of Nigeria in 2023 through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo.). The figures, announced in the just published 2023 Shell Briefing Notes, show that ...

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Transcorp Group Q1 Financial Performance Records 173 Percent Increase in Revenue About N56.2 Billion

……….by Ben Ndubuwa……..Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has posted an impressive first quarter (Q1) financial results for the period ended March 31, 2024.with revenue of N88.6 billion about 173 percent higher than 2023 revenue of N32.4 billion This impressive results are largely driven by a ...

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Shell Reports $7.7 Billion Q1, 2024 Financial Earnings

Oil giant Shell has beaten analyst forecasts with earnings of $7.7bn in first quarter of 2024, as the top financial boss asks shareholder support for the oil giant’s reduced climate targets. Adjusted earnings had been expected in the region of $6.46bn, but the oil giant’s strong oil trading and higher refining margins. The firm plans to spend $3.5bn in share ...

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FirstBank Emerges Best Private Bank In Nigeria, Best For Sustainable Investment In Africa

L-R: Idowu Thompson, Group Executive, Private Banking and Wealth Management, FirstBank receiving the Best Private Bank award trophy from Joseph Giarraputo, Founder and Editorial Director, Global Finance Magazine during a networking session at the dinner and award ceremony of the Global Finance ninth annual World’s Best Private Banks Awards for 2024 held recently in New York, USA. FirstBank of Nigeria ...

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ExxonMobil Reports Weak Q1, 2024 Profit Earnings

ExxonMobil Corp has reported a major profit drop from its announced first quarter results on Friday. The oil giant missed analysts’ estimates with a 28 per cent year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. Latest results from oil and gas companies including Chevron and TotalEnergies reflect a sharp downturn ...

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Eko DisCo Generates N15.7 Billion In March

The Eko Electricity Distribution Company (EKEDC), reportedly collected a whopping N15.7 billion out of N15.8 billion billed to customers. The figure represented a collection efficiency of 99 per cent, after the DisCo, announced that it registered the lowest aggregated technical, commercial, and collection losses (ATC&C) in its history. The term “technical” losses refers to the loss of electricity through the ...

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FG Launches New Fiscal Incentives To Rejuvenate Nigeria’s Ailing Oil And Gas Industry

Targets $10 billion investment in 18 months The Federal Government has officially launched a new set of fiscal incentives to rejuvenate Nigeria’s ailing oil and gas industry, stating that it aims to attract about $10 billion in investment within 18 months. According to a statement from the event, several key regulatory bodies, such as the Federal Inland Revenue Service (FIRS), ...

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We Will Demystify Cost of Oil and Gas Production In Nigeria – Petan Chairman

…Presents NNPCL GCEO With PETAN’s Excellence Award for the Frontier Basin Exploration Initiative ….. The Petroleum Technology Association of Nigeria (PETAN), Chairman, Engr. Wole Ogunsanya has assured that the group will demystify the cost of oil and gas production in Nigeria. He gave the assurance when he led members of the team on a courtesy visit to the Group Chief ...

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Gas Supply, Purchase Agreement for Brass Methanol Project Slated for Next Month – Ekpo

L-R:  Head of Joint Venture (JV), Investment Management, NNPC Upstream Investment Management Services, Mr. Olanrewaju Igandan; , Deputy Managing Director, Nigerian Agip Oil Company (NAOC), Mr. Richard Orianzi; Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; Managing Director, Shell Petroleum Development Company Nigeria, Mr. Osagie Okunbor, with  Managing Director of Brass Fertilizer and Petrochemical Ltd, Mr. Ben Okoye ...

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