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NNPC Will Declared First Dividend to Nigerians in Months Ahead – Kyari

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC) has said the Corporation will in months ahead declare its first dividend to Nigerians as it prepares to release its 2020 financial statements in the third quarter of this year. Kyari disclosed this in Lagos while delivering an address at the opening ceremony of the Nigeria Annual International Conference and ...

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Seplat Grows Half Year Profit Before Deferred Tax by 142.7 Percent

…declares interim dividend of 2.5 cents per share…… Seplat Energy Plc recorded an impressive half year (H1) 2021 scorecard with profit before deferred tax (PBT) of $62.1million, representing an increase of 142.7percent as against H1’20. Highlights of the company’s financial further show that revenue went up 32percent to $308.8 million in H1’21, from $233.5million in H1’20; earnings before interest, taxes, ...

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CBN to Refund N35 Million Capital Deposits to BDC Applicants

Bank of Nigeria (CBN) on Thursday says it will start immediate refund of capital deposit to Bureaux de Change (BDC) promoters with pending applications. According to a circular signed by Ibrahim Tukur for the Director, Financial Policy and Regulation Department of the apex bank, this is in furtherance of the decision to discontinue allocation of Foreign Exchange (FX) to BDC ...

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TotalEnergies Starts Buybacks As Rallying Oil Price Boosts Earnings

TotalEnergies will be allocating up to 40 percent of additional cash flow to share buybacks as rallying commodity prices helped it generate in the second quarter more than double cash flow from operations compared to Q2 2020. TotalEnergies reported on Thursday an adjusted net income of $3.46 billion for the second quarter of 2021, up from $129 million for Q2 ...

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JV Oil Assets, Projects Gulped N219.4 Billion in Two Months – NNPC

The Nigerian National Petroleum Corporation spent a total of N219.4bn on oil and gas assets being developed through joint ventures with private firms as well as government priority projects in the first two months of this year. The NNPC spent N108.93bn on the JV assets and the priority projects in January while N110.47bn was expended in February. The NNPC transferred ...

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FG Inaugurates NEITI’s Governing Board

The Federal Government has inaugurated the governing board of the Nigeria Extractive Industries Transparency Initiative (NEITI) to enhance the smooth running of its administration. Mr Boss Mustapha, Secretary to the Government of the Federation (SGF), who performed the inauguration on Thursday in Abuja, congratulated the members, saying their appointment as NEITI board members was based on individual merits and track ...

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NNPC Records 63 Percent FAAC Remittance Shortfall in Five Months

The statutory payments made by the Nigerian National Petroleum Corporation (NNPC) to the Federation Account, a joint pool operated by the local, state and federal governments, declined by over 63 per cent in the first five months of 2021, . An analysis of the data presented by the national oil company to the Federation Account Allocation Committee (FAAC), in the ...

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Seplat : Westport Secures $50 Million Offtake Facility

Westport Oil Limited, a subsidiary of Seplat Energy Limited, has secured a $50 million offtake linked reserved based lending facility due April 2027. The Offtake Facility is subordinated to the $110 million senior reserve based lending facility (the ‘’RBL’’). It attracts an initial interest of Libor +10.5% payable semi-annually and is scheduled to commence repayment from March 2023. Affirming this, ...

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Oando Plc Settles with SEC and Sets to Convene 42nd AGM

Oando PLC (referred to as “Oando” or the “Company”) said that it has entered into settlement with the Securities and Exchange Commission (SEC). As a result Oando Plc is set to convene its 42nd Annual General Meeting (AGM) to give its shareholders the opportunity to exercise their rights to receive information as well as vote on company affairs. Oando made ...

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