Financials and Investment News in Nigeria

Sirius Raises Funds for Ororo Field
9/22/2015 - Sirius Petroleum the investing company focused on oil and gas exploration and development opportunities is pleased to announce that it has raised a total of 1,035,000 (net of fees) through a Placing ...
Seven Energy Secures $495m to Boost Gas Supply
7/15/2015 - Oil and gas firm Seven Energy has secured a $495 million loan from a consortium of Nigerian and international lenders to help fund its spending to supply gas to the domestic market, an adviser on the ...
Nigeria's Oil Company Kept Nearly Half of Oil Revenue
6/29/2015 - Nigeria's state oil company earned 8.1 trillion naira ($41 billion) from 2012 until the end of May, but only paid 4.3 trillion to the federal government, the country's National Economic Council (NEC) ...
Oil Hedge Helps Oando Prepay Debt after ConocoPhillips' Deal
3/3/2015 - Oando Plc has prepaid $238 million out of the $753 million it borrowed to part finance the acquisition of ConocoPhillips' Nigerian oil and gas business, the company said. ...
Mart Initiates Review of Strategic Alternatives
2/20/2015 - Mart Resources, Inc announces that its Board of Directors has initiated a process to identify, examine and consider strategic and financial alternatives available to the Company with the ultimate view...
Sirius Gains Extension on Funding & Prepares for Drilling Project Ororo-2
2/12/2015 - Sirius Petroleum, the investing company focused on oil and gas exploration and development opportunities in Nigeria, updates its shareholders on progress towards completion of the 9.6 million Convert...
Willbros Completes Payoff of the Wapco Settlement Agreement
1/6/2015 - Willbros Group, Inc. announced that it made a payment of $32.75 million to West African Gas Pipeline Company Limited (WAPCO) on December 30, 2014. The Company has now paid in full all sums due under t...
Eland Access to $22m Loan Facility
12/5/2014 - Eland, an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that it has satisfied all the conditions preceden...
Global LNG-Prices Slide as Australia, Nigeria Offer Fresh Supply
11/21/2014 - Asian spot liquefied natural gas (LNG) prices extended losses this week as demand in December and January flat-lined, which is likely to have reduced interest for two sell tenders by Australia and Nig...
Sirius Provides Further Funding Update
10/16/2014 - Sirius Petroleum, the Company focused on oil and gas development and production opportunities in Nigeria, announced previously that it has provisionally raised approximately $20,000,000 by way of a pl...
CAMAC Enters 5Y Credit Facility with Zenith Bank
9/8/2014 - CAMAC Energy Inc announced that its wholly owned subsidiary, CAMAC Petroleum Limited, has entered into a credit facility with Zenith Bank Plc for a five-year senior secured term loan providing initial...
Conditional Placing and Subscription to Raise up to $20.0m
7/23/2014 - Sirius Petroleum has conditionally raised gross proceeds of up to US$20,000,000 by way of a placing and a subscription (the "Placing and Subscription"). ...
AfDB Approves $300m Loan to Boost Fuel Supply and Fertilizer Production in Nigeria
6/17/2014 - The Board of Directors of the African Development Bank (AfDB) approved on 13 June 2014 a loan of USD 300 million to Dangote Industries Limited for the construction and operation of a greenfield crude ...
Completed Placing of New Ordinary Shares to Raise $37.7m
5/21/2014 - Lekoil has conditionally raised gross proceeds of approximately US$37.7 million (approximately 22.4 million) through the placing of 33,000,000 new Ordinary Shares at a placing price of 67.75 pence pe...
New Engota Investment Fund to Acquire Assets in Nigerian Oil Market
4/24/2014 - New investment fund, Engota, will begin working internationally within the finance industry to build a portfolio of oil exploration and production assets in the lucrative Nigerian market. ...
Eland Exercises Options to raise 14m
3/26/2014 - Eland Oil & Gas PLC, an oil & gas development and exploration company operating in West Africa with an initial focus on Nigeria, is pleased to announce that it has exercised the remaining balance of o...
Seplat to List on London and Nigerian Stock Exchanges
3/11/2014 - Seplat plans to raise at least $500 million by floating shares on the London and Nigerian stock exchanges to pay down debt and fund acquisitions, it said. ...
Extension of Loan Facility & Exercise of Options to Raise 6m
2/27/2014 - Eland Oil & Gas PLC, an oil & gas development and exploration company operating in West Africa with an initial focus on Nigeria, is pleased to announce that it has extended its US$22 million loan faci...
OER Announces Agreement for $50m Private Placement
1/28/2014 - Oando Energy Resources Inc, a company focused on oil and gas exploration and production in Nigeria , announced that it intends to complete an arms length non-brokered private placement (the "Offering"...
Panoro Provides Update on Divestment Process for Aje Field
11/7/2013 - Panoro Energy announces that Lekoil has failed to pay the balance of USD 26 million plus an additional amount of approximately USD 1 million of working capital adjustment by November 6, 2013. Panoro E...

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