FINANCING

…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 ...

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 ...

…….Sets to meet target of N500 Billion Revenue to expand operation …… The ceremonial ringing of the closing bell (a tradition set aside to either welcome visiting dignitaries or mark significant events/accomplishments) had a familiar note for the Board and Management of Transcorp Power Plc on March 4, 2024, as the company took to the podium at the trading floor ...

L-R: Chairman of the Petroleum Technology Association of Nigeria, PETAN. Nicolas Odinuwe; the Director of Corporate Services, NCDMB, Dr. Ama Ikuru and the Director of Monitoring and Evaluation, NCDMB, Abdulmalik Halilu at the Nigerian Local Content AfCFTA Energy Summit organised by the Board on Monday in Lagos. As plans to implement the African Continental Free Trade Agreement, AfCFTA, continue to unfold, ...

The Nigerian National Petroleum Company Limited, (NNPCL), has realized N8.81 trillion as revenue in 2022. According to its financial statement released on Thursday revenue of NNPCL Group rose by 37.32 per cent — from N6.42 trillion in 2021to N8.81 trillion in 2022. The company in a rare expression of transparency disclosed this in its audited financial statements for the 16-month ...

……by Ben Ndubuwa…. Chevron Nigeria Ltd (CNL) has said that it will be financing a $1.4 billion projects for drilling across the NNPCL/CNL JV infill drilling program scheduled for the period between 2022 and 2026 as well as committing over $1.45 billion on local content development These projects encompasses the drilling of 37 wells in the shallow offshore and onshore ...

A consortium of four Nigerian Companies under the name Renaissance Africa Energy and an international Energy Group are planning to acquire Shell Petroleum Development Company at a value put at $ 2.4 billion. According to a press statement from the group, it stated: “We are pleased to announce the signing of a landmark transaction with Shell to acquire its entire ...

Data from the National Bureau of Statistics (NBS) has shown that revenue-generating agencies, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received N53.49 billion for the cost of revenue collection in November 2023. The November 2023 Federation Account Allocation Committee (FAAC) disbursement, the NBS in its latest publication said, saw NUPRC receiving N12.52 billion of the total sum. It further ...

The Nigerian National Petroleum Company (NNPC) Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and N1.7 billion loss in 2019. ...

……..by Victor Egbo…… The Manufacturers Association of Nigeria (MAN) has kicked against the invasion of Dangote Industries Limited (DIL) and call for caution by government security agencies in their operations. MAN in a statement signed by its director–general, Segun Ajayi-Kadir, stated: “We received the news of the invasion of the Dangote Industries Limited (DIL) by dozens of Economic and Financial ...