Seplat reports 282% revenue growth in 1 year, becomes profitable

Businessam StaffMay 1, 2018

By Adesola Afolabi Seplat Petroleum Development Company Plc. listed on both the Nigerian Stock Exchange and London Stock Exchange, on Monday announced its un-audited first quarter results. The Nigerian independent oil and gas group reported a 282 per cent growth in Revenue from contracts with customers to N55.2 billion in March 2018 from N14.5 billion […]

Nigeria’s Sahara Group revives IPO plan to boost production four-fold

Businessam StaffMarch 21, 2018

Nigerian energy conglomerate, Sahara Group Ltd. said it is reviving its earlier plan for a share-sale put on hold in 2015 in a bid to increase oil its production four-fold to 100,000 barrels per day. Lagos-based Sahara mulled an initial public offering in the Nigerian commercial capital and London in 2015, before falling crude prices […]

NNPC is best participant at 39th Kaduna International Trade Fair

Ajose SehindemiMarch 6, 2018

Maikanti Baru, group managing director, NNPC (R)

The Nigerian National Petroleum Corporation (NNPC) has emerged the overall best participant at the just-concluded 39th Kaduna International Trade Fair, which held in Kaduna from February 23 to March 4. NNPC which returned to the fair after a two-year absence emerged ahead of Dangote Industries and the Nigerian Ports Authority (NPA), which came second and […]

Challenger energy suppliers top customer satisfaction ranking

Businessam StaffFebruary 19, 2018

Challenger suppliers have topped an annual customer ranking of energy companies but overall satisfaction has dropped for the first time since 2011. Octopus Energy took first place for overall customer satisfaction with a score of 96% after being included in the uSwitch.com report for the first time after launching in 2016. Small suppliers swept the […]

Botswana grants Tlou Energy licence for coal-bed methane project

Businessam StaffAugust 21, 2017

Botswana has granted Tlou Energy a mining licence for its Lesedi coal-bed methane (CBM) project, Tony Gilby, the company’s Managing Director said Monday. The grant paves way for what would be the Southern African nation’s first gas-to-power plant. “The awarding of the mining licence by the ministry is a major milestone for the company. “Furthermore, […]

IBEDC earmarks N4.5bn for enumeration of consumers, equipment

Businessam StaffJuly 11, 2017

Ibadan Electricity Distribution Company (IBEDC)has earmarked over N4.5 billion for the enumeration of consumers and equipment in its areas of coverage, the management said, accordoing to NAN. Dele Ayodele, the Deputy Managing Director, IBEDC, made the remarks in an interview with the the news agancy in Lagos, saying that the cost would cover its area of […]

Conoil records N2.84bn profit for FY 2016

Obodo EjiroJune 21, 2017

Conoil Plc has recorded  a gross profit of N2.84 billion for the 2016 business year,  up from the N2.31billion it recorded prior year. The company’s ability to grow it revenues while cutting down on distribution expenses ensured that it was able to close the year on a profitable note, posting basic earnings per share of […]

Julius Berger, Petralon venture into oil exploration despite global price instability

Obodo EjiroJune 19, 2017

Still searching for growth opportunities, Nigeria’s construction giant, Julius Berger Nigeria Plc said it is venturing into crude oil exploration across the African continent. The company said it has already signed a strategic partnership and joint investment agreement with Petralon Energy Limited for the acquisition and development of oil fields in Nigeria. Petralon Energy Limited […]