Business & Finance

Marketers should embrace mergers and acquisitions in the downstream oil sector to consolidate their operations the Chief Executive Officer, Enyo Retail and Supply Limited, Mr. Abayomi Awobokun, has said. He said this will boost their…
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...Becomes 64th world's richest Aliko Dangote, is now the world’s 64th richest person after gaining $5.8bn in one day and his total net worth rising to $16.6bn. The Africa’s richest man’s wealth fell from $10.5bn at the end of last year…
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China exported 51,000 mt of gasoline to Nigeria in January, the first such export to the African country, latest data from General Administration showed Tuesday. Nigeria is the second country in Africa to have received Chinese…
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The Nigeria Extractive Industries Transparency Initiative (NEITI) has uncovered $20 billion recoverable revenues, its Executive Secretary, Waziri Adio, said yesterday. He spoke in Kiev, Ukraine at the ongoing 42nd meeting of the…
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Nigeria earned N3.72 trillion from royalties and petroleum profit tax, PPT, in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, CBN. The CBN, in its Economic Report for the Fourth Quarter…
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*Shell upstream boss Brown sees ‘no merit’ in tax claim *Bonga Southwest development decisions may slip into 2020 *Shell to fast track Whale development in Gulf of Mexico Royal Dutch Shell said on Tuesday that Nigeria’s claims…
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Foreign investment inflow into the Nigeria oil and gas industry declined sharply by 59.7 per cent to $133.51 million in 2018, compared to $331.36 million recorded in 2017, according to data obtained from the National Bureau of…
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Rising imports of US crude oil into Asia in the past few months will bring stronger competition in the months ahead for crudes from Nigeria and other West African countries, traders have said. S&P Global Platts reported that…
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Players across the sector and the continent have now had the confidence to make the necessary investments to improve the downstream landscape, says Joël Dervain, the African Refiners and Distributors (ARA) Executive Secretary, speaking…
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Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa's largest economy. In a…
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