Business Hilights

Tracking Nigeria's Headline Business News Online

Energy

Shell officials Visit NCDMB, Plans FID for Bonga, Gas Projects

Top echelon in the management of Shell Companies in Nigeria on Wednesday sought the support of the Nigerian Content Development and Monitoring Board (NCDMB) to achieve accelerated development of three major oil and gas projects notably Bonga North deepwater and…

NNPC, CBN deepen synergy for Seamless Commercial Operation

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the NNPC Ltd. to domicile…

NNPC assures no Increase in PMS Prices, warns against panic buying

Whereas there has been a resurgence of massive lines in several petrol stations across the country, the Nigerian National Petroleum Company (NNPC) Ltd. Has assured the public that there is no imminent increase in the cost of Premium Motor Spirit…

NNPC Ltd Celebrates 14,000bpd Production from Total’s Akpo West Field

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the successful commencement of oil production from the Akpo West Field operated by TotalEnergies and others in a PSC understanding. The milestone, which is the result of meticulous planning, strategic…

TotalEnergies, Vantage seal 75/25 joint venture on Tungsten Explorer drillship

TotalEnergies and Vantage Drilling International have signed a binding agreement to create a new joint venture (JV) that will acquire from Vantage the Tungsten Explorer drillship. Pursuant to the terms of the agreement, TotalEnergies will pay $199 million for a…

NNPC Ltd, US Govt., Deloitte Collaborate on Emission Reduction from OML 34

The Nigerian National Petroleum Company Limited (NNPC Ltd) is working in collaboration with the United States Department of States and international management consultancy firm, Deloitte, to meet its net-zero carbon goals by embarking on a project aimed at reducing the…

NCDMB, Chevron in Synergy to Fast-Track Approvals of Oil Industry Projects

The Nigerian Content Development and Monitoring Board (NCDMB) has restated its commitment to accelerated approvals of requests and documents submitted to it by operating oil and gas companies. The goal is to ensure speedy development of oil and gas projects…

Sargas Energy Delivers of 5 tons LPG Skid Unit to IMPO Gas Edo State

Sargas Energy is a leading LPG Skid distributor in Nigeria with the business aim of making access to LPG seamless nationwide. Hereunder are the service delivery statistics for the latest supply made in Edo State. Cost: N17.5million Cost includes: A…

Dangote Refinery may import crude oil from USA if…

Latest report from Blomberg, has shown that Trafigura Group has sold two million barrels of WTI Midland to the refinery for delivery at the end of February. This marks the first time the 650,000 barrel-a-day oil refinery has purchased non-Nigerian…

TotalEnergies Marketing Nigeria Plc 2023FY EPS settles lower at NGN38.09

TotalEnergies Marketing Nigeria Plc (TOTAL) published its Q4-23 unaudited financials yesterday (January 29), reporting a 41.6% y/y decline in standalone EPS to NGN6.22 in Q4-23 (Q4-22: NGN10.64) undermined mainly by an uptick in net finance cost (+139.6% y/y) and FX…