Mobil oil Nigeria

Posted on February 4, 2017 by Nairametrics

NIPCO Confirms Deal With Mobil Is Nearly Complete

Mobil Nigeria Plc has revealed that the transfer of its shares to NIPCO Plc will soon be completed. The Managing Director of NIPCO, Mr. Venkataraman Venkatapathy disclosed this during the week. Mobil last year announced that its parent company ExxonMobil Oil Corporation, had agreed to sell  60% of its shares  to Nipco investment Limited. The deal Read More

Posted on December 3, 2016 by Ugo Obi-chukwu

MTO Bid Sparks Mobil Oil Share Price Rally

Mobil Oil Nigeria Plc announced yesterday that the purchase consideration for its planned 60% divestment of its parent company to NIPCO Plc is valued at about $301 million. This values the company at nearly $516 million or N159.9 billion assuming an exchange rate of N310/$1. This valuation as expected is impacting positively on the share Read More

Posted on December 3, 2016 by Nairametrics

Mobil Confirms NIPCO Purchase Consideration Is $301million

Last October, Mobil Nigeria Plc announced it had agreed a deal that will see NIPCO acquire about 60% of its shares from its majority shareholder, Exxon Mobil Oil Corporation (EMOC). At the time of the deal, the purchase consideration was not announced leaving analysts to speculate what the actual price could be. Mobil Oil Plc Read More

Posted on October 28, 2016 by mudeerat olawunmi

ALERT: Mobil Oil Nigeria Plc Release 2016 Third Quarter Earnings

Mobil Oil Nigeria Plc released its 2016 result for the nine months ended 30 September 2016 ; See below     Mobil Oil Nigeria Plc 2016 Quarter Three Results Mobil Oil Nigeria  Plc 2016 Q3 2015 Q3 %age Change N’000 N’000 Turnover   71,868,603  45,326,443 59% Pre-tax profits     8,476,012    5,247,839 62% Profit after Read More

Posted on October 23, 2016 by Nairametrics

What We Currently Know About The Mobil/Nipco Deal

Last week, the Nigerian Stock Exchange Published  press release confirming that Exxon Mobil has agreed a deal that will see it sell all its shares in Mobil Nigeria Plc to NIPCO Plc. Exxon Mobil currently owns about 60% of Mobil Nigeria Plc. The press release did not provide details such on how much the deal Read More

Posted on October 19, 2016 by Nairametrics

Mobil Nigeria Plc Announce Divestment Of Shares

ExxonMobil Oil Corporation, a majority shareholder in Mobil Oil Nigeria has agreed to sell its 60 percent shares in the company to Nipco investment Limited, subject to regulatory approvals. Nipco Investment is a wholly owned subsidiary of Nipco Plc ( both of which are Nigerian Companies).

Posted on November 23, 2015 by Editor

ExxonMobil Gets 21 Day Deadline From Indigenous Contractors Over Local Content Law

Contractors from Akwa Ibom State, under the aegis of Core Community Contractors Initiative, have given Mobil Producing Nigeria Unlimited, a 21-day ultimatum to implement the Local Content Law 2010. The executives of the contractors, led by the Chairman, Chief Friday Ebong lamented that Mobil Producing and other contracting firms have neglected the core community contractors Read More

Posted on November 5, 2015 by Editor

[Oil Spillage] NOSDRA Fines Mobil Nigeria N10million

The National Oil Spill De­tection and Response Agency, NOSDRA has slammed a N10 million fine on Mobil Producing Nigeria Unlimited, MPNU for oil spill. The oil com­pany was accused of non-compliance with the nation’s environmental laws de­spite its written reminder notify­ing them of the sanctions imposed by NOSDRA for failure to effect clean up of the oil Read More

Posted on October 23, 2015 by Editor

[Corporate Action] Mobil Nigeria Plc Records a 39% Drop In Profits For Q3’2015

Mobil Nigeria Plc released its financial results for the 9 months ended September 2015. The result showed dropped by 25%, from N60 billion in Q3′ 2014 to N45 billion in Q3′ 2015. Profit before tax also declined by 33%. See Summary of the result below… Mobil Nigeria PLC 9months 2015 2014 % Change N’bn N’bn Read More

Posted on September 19, 2015 by Editor

The Reason Why ExxonMobil’s Activities Dwindled By 53%

Mobil Producing Nigeria Unlimited (MPNU), operator of MPN/NNPC Joint Venture, says its operations have witnessed 53 percent decline because of failure of partners to honour cash call obligations. The Manager, field law services, ExxonMobil, Mr Omojuwa Oteri, disclosed this in Uyo during the week at a stakeholders’ meeting tagged ‘2015 Energy Outlook Series.’He said that the company Read More

Posted on May 31, 2015 by Nairametrics

These two companies will pay dividend this week (1-5/6/15)

The following companies will be paying their shareholders dividends this week. Having declared dividends earlier and closed their register, shareholders whose names appear on their register will get paid dividends. For those with e-dividends, dividend will be credited to your accounts whilst for those without e-dividends they will post the warrant to the address indicated Read More

Posted on May 12, 2015 by Nairametrics

Buy sell or hold? Mobil Nigeria Plc after release of 2015 Q1 results

PMS price cut and volume slowdown weigh on top-line Mobil Oil Nigeria Plc “Mobil” Q1 15 reported 26.4% YoY contraction in revenues to N16.5billion—the lowest in 15 quarters. Whilst we had expected a drop in topline (-19% YoY) due to relatively high base in Q1 14and 10% reduction in PMS retail prices to N87/litre in early 2015, the wider contraction suggests Mobil cut volumes Read More

Posted on October 30, 2014 by Nairametrics

Analysis: Why Depressed Oil Prices Makes Mobil A “Sell”

Mobil Oil Nigeria Plc. (9 months ended September 2014)   Mobil Oil Nigeria Plc “Mobil” reported a 3.4% YoY rise in 9M 2014 revenues to N60.7 billion, with PBT and PAT more than doublingYoY to N7.9 billion and N5.9 billion, respectively, though still reflecting inflow from sale of property (N2.8 billion) during the first quarter Read More

Posted on July 30, 2014 by Nairametrics

2014 H1: Mobil Oil Post Blow Out Half Year Result, 151% Increase In Pre-tax Profits

Mobil Oil reported an 8.8% increase in 2014 second half profits of N42.billion compared to N38.7billion in 2013. Gross profit rose 17% to N5.6billion (2014 H1: N4.7billion). Operating profit also rose 38% to N1.9billion compared to N1.4billion recorded in the same period in 2013. Pre tax profit blew out 151% to N6.1billion as the company’s Read More

Posted on March 31, 2014 by Nairametrics

Mobil Oil Plc Post N3.4billion PAT Declare N6 Dividends

  Mobil Oil Plc released its 2013 FY audited results showing a 21% rise in profit after tax to N3.4billion (2012: N2.8billion). Highlights Revenue for the year  was N78.7billion representing a 2.5% drop from the N80.8billion posted a year earlier Gross profit was N9.9billion representing a 21% rise from N8.2billion posted in2012 Profit before tax Read More

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