FINANCING

Social Performance and Social Investment Manager, The Shell Petroleum Development Company of Nigeria Limited, Dr. Gloria Udoh (middle), presenting a N48m cheque to representatives of the 117 beneficiaries of the Shell Nigeria LiveWIRE programme at a graduation ceremony in Port Harcourt… on Friday Social Performance and Social Investment Manager, The Shell Petroleum Development Company of Nigeria Limited, Dr. Gloria Udoh ...

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 ...

…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, ...

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 ...

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 ...

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 ...

Shareholders of Oando Plc have heaved a sigh of relief, after months of lull in the activities of the leading indigenous oil conglomerates on the trading floor of Nigerian Stock Exchange, NSE, as the company saw transaction rising by 10 per cent in its share price in three days. It could be recall that, after a plethora of court cases ...

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 ...

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 ...

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, ...