Nigeria’s stock investors ended last week trading which ended on January 15, N552 billion richer as the value of listed equities increased remarkably by 2.63 percent to N21.530trillion from N20.978trillion recorded in week one.
The All Share Index (ASI) which had opened the review week at 40,120.22 points increased to 41,176.14 points. As NSE data showed, 60 stocks appreciated in price, higher than 50 equities in week one.
A breakdown of the activities revealed that the Financial Services Industry (measured by volume) led the activity chart with 1.714 billion shares valued at N13.352 billion traded in 15,102 deals; thus contributing 49.74 percent and 40.80 percent to the total equity turnover volume and value respectively.
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’Femi Asu
Three international oil companies operating in Nigeria have sold their combined 45 per cent interest in Oil Mining Lease 17 and related assets in the Eastern Niger Delta to TNOG Oil and Gas Limited, an integrated energy company founded by Mr Tony Elumelu.
Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited assigned their interests of 30 per cent, 10 per cent and five per cent respectively in the lease to TNOG Oil and Gas.
SPDC announced in a statement on Friday the completion of the sale of its 30 per cent interest in OML 17 and associated infrastructure to TNOG Oil and Gas for a consideration of $533m.
2 Min Read
LAGOS (Reuters) - Nigeria’s Heirs Holding announced on Friday it had bought a 45% stake in an onshore oilfield as part of a deal that it said included $1.1 billion in financing from a consortium of global and regional banks and investors.
International oil majors have been trying to sell stakes in onshore oilfields in Nigeria for years as they pivot their investments to assets offshore the West African nation and to other regions.
Shell, Total and Eni each sold stakes in the OML 17 field, which has production capacity of 27,000 barrels of oil equivalent per day and estimated reserves of 1.2 billion barrels of oil equivalent, Heirs said.
Punch Newspapers
Sections
‘Femi Asu
Three international oil companies operating in Nigeria have sold their combined 45 per cent interest in Oil Mining Lease 17 and related assets in the Eastern Niger Delta to TNOG Oil and Gas Limited, an integrated energy company founded by Mr Tony Elumelu.
Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited assigned their interests of 30 per cent, 10 per cent, and five per cent respectively in the lease to TNOG Oil and Gas.
SPDC announced in a statement on Friday the completion of the sale of its 30 per cent interest in OML 17 and associated infrastructure to TNOG Oil and Gas for a consideration of $533m.
2 Min Read
LAGOS (Reuters) - Nigeria’s Heirs Holding announced on Friday it had bought a 45% stake in an onshore oilfield as part of a deal that it said included $1.1 billion in financing from a consortium of global and regional banks and investors.
International oil majors have been trying to sell stakes in onshore oilfields in Nigeria for years as they pivot their investments to assets offshore the West African nation and to other regions.
Shell, Total and Eni each sold stakes in the OML 17 field, which has production capacity of 27,000 barrels of oil equivalent per day and estimated reserves of 1.2 billion barrels of oil equivalent, Heirs said.