SLB Pumps Up Profits and Dividends on International Drilling Boom. Oilfield services giant Schlumberger (SLB) enjoyed robust growth and rewarded shareholders with a higher dividend after exceeding analyst expectations for its fourth-quarter earnings. Here are the key takeaways: Strong Profits: EPS excluding charges and credits soared 21% year-on-year to $0.86, surpassing analyst estimates of $0.84. Revenue Surge: Quarterly…
Oil and Gas Stakeholders Unite in Lagos to Drive Growth and Secure Nigeria’s Energy Future In a critical meeting held in Lagos this week, key stakeholders in Nigeria’s oil and gas sector gathered to chart a course for sustainable growth, energy security, and national economic development. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) took center…
Customs Bars Officers, Cargo Owners from E-Auction The Nigeria Customs Service (NCS) has barred its officers and the owners of seized goods from participating in the e-auction planned to begin today. The NCS stated this in the information it released weekend where it gave details of the e-auction process. Recall that the NCS last week…
Dangote Cement Soars By 9.98% as Otedola Share Acquisition Drives Investor Interest The announcement of Femi Otedola’s acquisition of shares in Dangote Cement Plc has sparked heightened investor interest, resulting in a notable uptick in Dangote Cement’s shares. Market data indicates that there was increased demand for Dangote shares with very little sale, thus…
Nigeria to Spend $3.1trn on Renewable Energy. Nigeria has announced a $3.1 trillion investment plan in the nation’s transition from fossil fuels to cleaner and renewable energy sources. This was disclosed by the Minister of State for Petroleum Resources (Oil) Dr Heineken Lokpobiri at the 54th Annual Meeting of the World Economic Forum, signaling a…
Oil Spill: NOSDRA Stakeholders Visit Foropa Coastline in Bayelsa Stakeholders led by the National Oil Spills Detection and Response Agency (NOSDRA) have visited Foropa, a fishing settlement along the Atlantic coastline in Bayelsa to assess the impact mystery spill reported on Jan. 3. The mystery spills refer to crude oil leaks from unknown sources where…
NERC Mandates Discos to Spend N275 Billion on Electricity Meters in Four Years The Nigeria Electricity Regulatory Commission (NERC) has mandated eleven (11) electricity distribution companies to spend a total of N275 billion on electricity meters between 2024 and 2027. This is according to the Multi-Year Tariff Order from the NERC to all discos across…
Global Black Impact Summit (GBIS) 2024: Enabling Black-Owned Businesses to go Global The upcoming Global Black Impact Summit, which is organized by Energy Capital & Power, will explore best practices for Black-owned brands and businesses to find success in the global market place. Black-owned businesses have emerged as integral players in the global economy, able…
Explore a Network of Opportunities at SAIPEC 2024 Opening next month, PETAN’s 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) is a world-class energy event offering direct access to Africa’s stakeholders and key energy players across the continent. Its full and varied programme, guided by an esteemed steering committee, will stretch across three days…
Alake Harps on Nigeria’s Commitment to Safe Mining of Solid Minerals The federal government says it remains committed to securing solid minerals’ mining areas, streamlining operations, and ensuring that mining practices align with global standards with no environmental harm. The Minister of Solid Minerals Development, Dr. Dele Alake, who gave the assurance said he was…
