Eterna Plc has lamented over the unavailability of foreign exchange and unattractive high interest rates hindering the growth of oil and gas companies in the country.

Leading integrated energy provider, Eterna Plc, posted a gross profit of N4.1 billion for the half year ended June 30, 2022.

Eterna Plc has reiterated its commitment to investing in Liquefied Petroleum Gas space and incrementally setting up necessary infrastructure for market penetration.

Eterna Plc has reiterated its commitment to investing in Liquefied Petroleum Gas space and incrementally setting up necessary infrastructure for market penetration.

The Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, occasioned by losses incurred by most blue-chip stocks, especially by Champion Breweries and Eterna Plc, as market capitalisation depreciated by N83 billion.

Following gains recorded by most blue-chip stocks, especially Eterna Plc and International Breweries, trading on the Nigerian Stock Exchange (NSE), reopened upbeat yesterday, causing market capitalisation to increase by N3 billion.

Although the downstream sector of the oil industry has been facing its margin challenges, the COVID-19 pandemic has further aggravated its concerns, especially as the government seeks to comply with production

Citing the Nigerian National Petroleum Corporation (NNPC’s) interference in the downstream sector as propelling unfavourable competition with other players, thus leading to the unpredictability in the market, Eterna Plc has urged the Federal Government to deregulate the sector, even as it unveiled plans to expand its operations. The firm also stated that despite the harsh operating environment…

Eterna Plc has appealed to whoever emerges winner of the Presidential election to deregulate the downstream oil sector come May 29, when they are inaugurated. Speaking at a news conference to mark its 30th anniversary, the Chief Executive Officer, Eterna, Mahmud Tukur, said downstream deregulation is long overdue, and although a very political and sensitive…

Despite the challenging downstream sector of the oil and gas industry, Eterna Plc’s consolidated operating revenue increased from N106.9 billion in 2016 to N173 billion in 2017, representing an increase of 61.8 per cent.