The bears strengthened their hold on the equity sector of the Nigerian Stock Exchange (NSE), following continued sell-off witnessed across virtually all the sectors, causing market capitalisation to plummet further by N23 billion.   Yesterday, the All-share Index (ASI) fell by 61.68 points or 0.22 per cent to 28,422.76 points. Accordingly, investors lost N23 billion…

Domestic gas supply in Nigeria is set to increase by about 300 million standard cubic (MSCF) daily through the Asa...

Seplat Petroleum Development Company Plc, has urged public and private sector operators to invest more in research and development aimed at promoting safety. The oil company noted that such investments should cut across the different sectors of the economy as is the case for the oil/gas and aviation sectors, among others. The Operations Director of…

Stock market reversed previous day’s gains at the end of yesterday’s transactions, occasioned by price losses suffered by most highly capitalised stocks, as market capitalisation plunged by N39 billion. At the close of the transactions, the All Share Index (ASI) shed 109.21 absolute points, representing a dip of 0.35 per cent to close at 30,814.19…

A Federal High Court sitting in Lagos has ordered Shebah Exploration & Production Company Limited, Allenne Limited and Dr. Ambrosie Bryant Chukwueloka Orjiako, to pay the sum of $144.2 million to three banks. The amount, which was to be paid to African Export-Import Bank, Diamond Bank Plc and Skye Bank Plc, was the outstanding and…

Austine Avuru, a co-founder of Seplat, was appointed Chief Executive Officer on May 1, 2010. Prior to joining Seplat, Avuru spent 12 years at the Nigerian National Petroleum Corporation (NNPC), beginning from 1980, where he held various positions including wellsite geologist, production seismologist and reservoir engineer. In 1992, he joined Allied Energy Resources in Nigeria,…

To mitigate downtime losses, Seplat Plc, has said it is currently co-financing a third-party operated Escravos Pipeline, which is projected to be fully commissioned and operational this third quarter.     The pipeline is expected to serve as the primary evacuation route and deliver crude oil to Escravos, which is a Chevron Nigeria operated terminal…

Stakeholders who gathered at a Roundtable for Gas Development, organised by The Business Year, in partnership with the Lagos Petroleum Club, have emphasised the need for the Federal Government...

Equity transactions on the floor of the Nigerian Stock Exchange sustained rising profile, following gains recorded by major highly capitalized stocks, especially Seplat and Mobil causing the All-share index to rise further by 0.83 per cent.

Price losses yesterday continued to outweigh gains on the trading floor of the Nigerian Stock Exchange (NSE), as most blue-chip companies, especially Seplat and Mobil...

Following price losses suffered by most blue chip companies, especially Seplat, and international Breweries, transactions on the equity sector of the Nigerian Stock Exchange (NSE), closed on a downward note yesterday, as market capitalisation dipped by N101billion. Specifically, at the end of transactions yesterday, 37 stocks recorded price depreciation, led by Seplat with 13.50 kobo…

The Managing Director of Seplat, Austin Avuru has insisted that for the nation’s oil and gas sector to move forward, there is need for strong regulation Speaking at Petroleum Club Guarantors Dinner in Lagos recently....