DRILLING INTO UPSTREAM OIL/GAS FIRMS’ DEBT LEVELS

It is generally accepted that firms that have huge debt in their capital structure may have incurred such loans for the purpose of assets acquisition aimed at aggressively expanding operations, and also for market penetration.

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GAS SHORTAGE PUTS PRESSURE ON FIRMS’ COST

President Goodluck Jonathan is scrambling to boost gas supply in the country as shortage of the fuel used to power most manufacturing plants hit companies’ costs amid crisis in the sector arising from government policies that seek to control prices.

Dangote Cement plc, Nigeria’s largest company and Africa’s biggest producer of the building material, said on Friday that first-half profit declined 11 percent as operating costs increased on gas supply challenges resulting in use of heavy oil for its plants.

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