News Nigeria

Reps direct SEC to take over Capital Oil

Ihesiulo Grace 26 October 2018 0

…Vows to nail ex-CEOs over fraud The House of Representatives Committee on Capital Market and Institutions on Thursday directed the Security and Exchange Commission (SEC) to take over the Capital Oil Limited, a public liability company incorporated in 1985. This directive was handed down

Business Capital Market

Oil Hits Highest Levels Since Two Years

Ihesiulo Grace 6 November 2017 0

In oil fundamentals, traders said that there were ongoing signs of tightening market conditions. Even though the future of fossil fuel is periled, for now, it continues to hold sway and economies depending on it have a reason to continue to smile. After more than a year of market troubles, the prices have picked up, […]

Business

Update: NNPC moves to recover over N11bn missing petrol from Capital Oil

Ihesiulo Grace 20 March 2017 0

…MRS returns own portion of missing product …Reports case to DSS, EFCC, NASS Following last week report on missing petrol, the Nigerian National Petroleum Corporation (NNPC) on Sunday, announced measures to achieve full recovery of over 130 million litres of the product stored in the facilities of two indigenous downstream operators, MRS Limited and Capital […]

Business News Top Stories

NNPC to recover N11bn missing petrol from Capital Oil

Ihesiulo Grace 18 March 2017 0

The Nigerian National Petroleum Corporation (NNPC) on Friday announced measures to achieve full recovery of over 130 million litres of Premium Motor Spirit (PMS), also known as petrol, stored in the facilities of two indigenous downstream operators, MRS Limited and Capital Oil & Gas Limited, under a throughput arrangement to ensure a robust strategic reserve. […]

Business News Top Stories

Reps probe oil firms over N500bn debt to PPMC

Ihesiulo Grace 14 December 2016 0

Oando, Mobil, Total, MRS, Capital Oil, others affected Allege connivance between marketers, govt officials Reopen investigation into Malabu oil deal Speedy passage of PIB, solution to anomalies –NNPC   Speaker of the House of Representatives, Yakubu Dogara, on Tuesday, inaugurated an ad hoc committee to investigate the huge debts amounting to over N500 billion owed

Business Capital Market

Capital Oil increases loss by 99 percent in nine months

Ihesiulo Grace 1 November 2016 0

Management accounts for the nine month period ended 30th September 2016 of Capital Oil Plc has shown a 99 percent increase in loss after tax of N43.5 million from N21.9 million reported for the same period of 2015. The indigenous downstream oil major also reported a 28 percent decline in revenue that stood at N650.1 […]

Capital Market

Capital Oil reduces H1 2016 losses by 89%

Ihesiulo Grace 19 September 2016 0

Capital Oil Plc has announced a loss after tax of N6.5 million for half year (H1) ended June 30th 2016. Recovering from last year’s sudden sharp decline in prices of petroleum products that hit the global oil and gas industry, the company reported an 89 percent reduction in its losses after tax from N57.4 million […]