Upstream firms 2 list on NSE...

[newton]

Proshare News and Analysis
Regulators consider listing of JV firms on the NSE
Posted Thursday, February 21, 2008

Media reports suggests that the capital market regulators are sponsoring a bill at the house of assembly that would induce the listing of joint venture companies in Nigeria’s upstream oil and gas sector.



The joint venture companies include upstream oil majors such as Shell petroleum Development Company (SPDC), Mobil Producing and Chevron. Other large companies (mainly privately owned in telecommunications i.e MTN, Globacom and Celtel) are also being considered.



Mr. BinusYaroe, Head of Quotations at the Nigerian Stock Exchange (NSE) has ascribed slow development and low competitiveness of the Nigerian Capital Market to absence of these firms traded stock on the exchange.

[Babs_O]

Think it is better they are allowed to source money via the Banks or Capital markets in the form of Bonds. They need money to finance project the Government is not well structured to verify and contribute their quota. Stock listing / trading will not supply this funds. I have participated in NEITI (Nigerian Extractive Industries Transparency Initiative) I know some of the issues.

If special bonds are used they must be auditable as the companies have their own tricks also.

[newton]

Warri, Kaduna refineries to be listed on NSE
Posted Thursday, March 27, 2008

All the subsidiary companies that will operate under the proposed National Petroleum Company of Nigeria will be floated on the Nigerian Stock Exchange.


NAPCON will replace the current Nigerian National Petroleum Corporation and will be a wholly integrated oil and gas company, competing locally and internationally in all sectors of the industry.


This is part of the propositions by the Oil and Gas Sector Reform Implementation Committee, which is currently working out the details of reforms in Nigeria ’s oil and gas industry.

see details in Proshare News