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Petronas has two holding companies in Luxembourg called Petronas Azerbaijan and Petronas South Caucasus which are related to the state-owned oil company's activities around the Caspian sea. [60] Petronas confirmed the new seizure order for the two units and their parent company, but reiterated the heirs' actions were baseless and that the ...
The Nigerian National Petroleum Company (NNPC) Limited is a state-owned oil company in Nigeria. Still a fully-owned government company, it was transformed from a corporation into a limited liability company in July 2022. [1] NNPC Limited is the only entity licensed to operate in the country's petroleum industry.
Nigeria is a federal republic in West Africa, bordering Benin in the west, Chad and Cameroon in the east, and Niger in the north. As of 2015 Nigeria has the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively.
All oil and gas companies operating in Sarawak waters would be given grace period until the end of 2019 to comply with Oil Mining Ordinance (OMO) 1958. [40] Since 1 January 2019, Sarawak enforced 5% sales on all petroleum products. [41] Initially, Petronas was given dateline until end of September 2019 to pay the sales tax. [42]
Nigeria's petroleum is classified mostly as "light" and "sweet", as the oil is largely free of sulfur. Nigeria is the largest producer of sweet oil in OPEC. [18] This sweet oil is similar in composition to the petroleum extracted from the North Sea. This crude oil is known as "Bonny light".
The company's $8.7-billion market cap remains detached from its business fundamentals. On election night, it reported a third-quarter net loss of $19.2 million on revenue of $1 million, with a ...
Idahosa "Hosa" Wells Okunbo (7 January 1958 – 8 August 2021) was a Nigerian billionaire business magnate, investor, philanthropist, and trained commercial pilot. He served as chairman and director on numerous company boards in Nigeria, spanning multiple business sectors such as the agro-allied, petroleum, telecommunications, power, real estate, and banking industries.
The Street is bracing for mixed results and an accompanying 2025 outlook when the company reports on Feb. 4. "After a tumultuous year in 2024, which began with PepsiCo guiding towards the top end ...