FINANCING

Exxon Mobil on Friday beat Wall Street’s third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from U.S. shale producer Pioneer Natural Resources. Oil industry earnings have been squeezed this year by slowing demand and weak margins on gasoline and diesel. But Exxon’s year-over-year profit fell 5%, a much smaller drop than ...

The Nigerian government has set 28th January 2025 as the deadline for the operationalisation of the $5 billion Africa Energy Bank in Abuja, the nation’s capital city. A Nigerian delegation led by Nicholas Ella, the permanent secretary, Ministry of Petroleum Resources, and executive board member representing Nigeria at the African Petroleum Producers Organization (APPO), made the disclosure on Wednesday at ...

Bolaji Agbede and Roosevelt Ogbonna Access Holdings PLC has made clarification and  justified its high cost-to-income ratio, saying it is still relatively  high because of its necessary  investments in various aspects of its growth and expansion  that will yield huge benefits in the short to medium term. Bolaji Agbede In making this justification, Access Holdings PLC, one of Africa’s leading ...

......Declares US 9.6 Cents Total Dividend Per Share for 9 months 2024...... Seplat Energy PLC, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announces its unaudited results for the for the nine months ended 30 September 2024, with a strong underlying business performance which supports increase to core dividend by ...

…..by Ben Ndubuwa……First Bank Plc, one of the leading banks in Energy financing, in Nigeria has said that the bank is deepening its investment in Africa’s oil and gas sectors, with a strong footprint in six African nations as well as partnerships in the United Kingdom, France, and China. Currently, the bank is active in the Democratic Republic of Congo ...

Africa Capital Alliance’s (ACA) CAPE IV fund has divested 0.57% of its shareholding in Aradel Holdings, a sale valued at N19.8 billion. The transaction occurred over three days—October 14, 15, and 16—during which CAPE IV sold 24.717 million Aradel shares at an average price of N802.99 per share. Following this sale, ACA’s stake in Aradel dropped from 16.49% to 15.92%, ...

The Independent Petroleum Producers Group (IPPG) commended the leadership of Engr. Gbenga Komolafe, the Commission Chief Executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for tireless efforts and unwavering commitment to the growth and development of the oil industry. IPPG made this commendation during the third year anniversary celebration of NUPRC. According to the independent petroleum producers, the Commission has ...

Environment, Social and Governance (ESG) standards and regulatory frameworks in African countries significantly shape oil and gas investments in the continent, as they influence costs, compliance requirements, and project risk profiles. The Chief Financial Officer, Seplat Energy, Mrs. Eleanor Adaralegbe, said this during a panel session at the Africa Oil Week (AOW) Conference & Exhibitions in Cape Town, South Africa. ...

The National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has stated that the Nigerian National Petroleum Company Limited owes petroleum marketers almost N15bn. Garima stated this on Thursday when he was featured on Channel TV’s Sunrise Daily. According to him, its members have yet to load a single truck since the NNPCL increased its pump price. Responding to ...

The Central Bank of Nigeria has emphasised its commitment to the stability of the country’s financial system, highlighting that regular stress tests are conducted to identify potential vulnerabilities in banks. This is according to a press release by CBN’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, on Tuesday. “The CBN recognises the crucial role that confidence plays in ...