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Seplat Energy Wins Highest Net Asset Ratio Award At The Pearl Award 2022

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Seplat Energy Wins Highest Net Asset Ratio Award At The Pearl Award 2022

Olushola Okunlade Writes

Seplat Energy Plc (Seplat), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has emerged winner of the tensely coveted ‘Highest Net Asset Ratio’ award at The Pearl Award 2022.

The energy company was announced the winner by the organisers of the award at a ceremony held at Eko Hotel & Suite Victoria Island Lagos on Sunday night.

The return on net assets (RONA) ratio compares a firm’s net income with its assets and helps investors to determine how well the company is generating profit from its assets. The higher a firm’s earnings relative to its assets, the more effectively the company is deploying those assets.

The Board of Governors of the PEARL Awards Nigeria congratulated Seplat Energy Plc for emerging as the winner of the prestigious 2022 Highest Net Asset Ratio Award in the Market Excellence Awards Category for companies quoted on the Stock Market.

Commenting, the President, PEARL Awards, Mr. Tayo Orekoya, said the 2022 PEARL Awards with the theme: Sustaining Excellence Through Tenacity (SETT), reflects the current realities of the PEARL Awards,  Corporates and Capital Markets, locally and globally.

Orekoya said: “Over the years we have built and sustained a legacy through the PEARL Awards and this is attested to by the high reputation and credibility which corporate Nigeria and other stakeholders ascribe to the Awards Project for its impartiality and reliance on verifiable indices to determine the yearly winners.

Seplat Energy Wins Highest Net Asset Ratio Award At The Pearl Award 2022

The Chief Financial Officer, Seplat Energy, Mr. Emeka Onwuka, also commenting on the award, expressed appreciation of the Board, Management, and Staff of Seplat Energy Plc on the recognition, saying the feat remains a call for more work.

Onwuka said: “We thank the Board of Governors of the PEARL Awards Nigeria for this honour.

“At Seplat Energy Plc, our commitment to excellence and global best practices is unwavering. The Company had its sights set on the global business arena from its inception. Therefore, in April 2014 and in line with its vision of being a world-class energy company delivering premium value to all stakeholders, the company accomplished the historic feat of being the first Nigerian company to be listed on both the Nigerian Stock Exchange (now The Nigerian Exchange) and the main market of the London Stock Exchange – the world’s most respected international market for the admission and trading of equity, debt, and other securities.

“The main motive behind Seplat Energy’s vision of listing in two jurisdictions was the great desire to build a company that would stand the test of time and stands shoulder-to-shoulder with other global players from other climes. This award tonight reaffirms this, and for us, this is a call for more work.”

Energy

Shell And BCG’s New Report Shows Accelerated Growth In Carbon Markets

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Industry Regulator Applauds Shell For Investing In Nigerian Gas Infrastructure

Olushola Okunlade Writes

The compliance and voluntary carbon markets grew at record pace over the past two years, according to a joint report by Shell and Boston Consulting Group (BCG).

The compliance market soared to an estimated value of about $850 billion in 2021, nearly 2.5 times the value in 2020 while the voluntary market value quadrupled to about $2 billion, the report showed. In 2022, the use of carbon credits continued to grow, with nearly 166 million tonnes of retirements – a record number of retirements. By 2030, the value of the voluntary market is expected to be five times bigger.

“The voluntary carbon market: 2022 insights and trends” presents new projections from BCG on growth possibilities and draws on the views of more than 200 business sustainability leaders to identify trends in the market as it expands.

“The increase in value and volume, despite the current economic headwinds, is a sign of the growing importance of the voluntary carbon market,” said Nick Osborne, General Manager, Global Environmental Products, Shell. “We are seeing a concerted effort from businesses to build sustainable carbon credit strategies that they and their stakeholders have confidence in. We want to leverage that focus to help build a highly credible, scaled-up, and transparent carbon market that supports a net-zero emissions future.”

The projections in the report demonstrate accelerating demand and a tightening of supply. Where previous projections had shown demand for credits starting to outstrip supply in 2024, data from 2021 shows this may happen even earlier for some classes of credits, thereby driving up demand particularly for nature-based credits.

Anders Porsborg-Smith, Managing Director and Partner, BCG, said: “As the market continues to grow at an accelerated pace, it will become increasingly important to grow with integrity through a high grading of credit quality. Similarly, as the carbon market infrastructure becomes more complex with competing standards, compliance regulations, and Article 6 – it will be important to ensure this does not create uncertainty and inhibit long-term investment appetite in the carbon markets.”

From the survey and in-depth interviews carried out as part of the research, five key trends were identified among market participants:

  • Buyers see carbon credit spending as non-discretionary and anticipate it growing
  • Carbon credit purchasing strategies are increasingly being influenced by industry groups
  • Reputable monitoring, reporting, and verification (MRV) framework is the most important purchasing criterion
  • 52% of companies expect removal credits to dominate their portfolio by 2030
  • Participants have limited clarity on the impact of Article 6 of the Paris Agreement and corresponding adjustments

The report also discusses perspectives on avoidance and removal credits, as well as gives an update on corresponding adjustments.

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Energy

Henkel Signs Agreement With Shell On Renewable-Based Ingredients For Persil, Purex, And All Brands

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Henkel signs agreement with Shell on renewable-based ingredients for Persil®, Purex® and all® brands

Shell to replace approximately 200,000 tonnes of fossil feedstocks with renewable feedstocks for cleaning ingredients used in Henkel’s largest laundry brands in North America. A third-party certified mass balance approach will be used.

    Henkel and Shell Chemical LP have agreed to a five-year collaboration to replace up to 200,000 tonnes of fossil feedstocks used in the manufacture of surfactants with feedstocks that are based on renewable raw materials. The renewable-based surfactants will be used in Henkel’s laundry product brands, including many varieties of Persil, Purex, and all brands. Surfactants are an ingredient in cleaning products that help lather and lift dirt.

    “This landmark cooperation significantly advances Henkel’s share of renewable-based ingredients in leading consumer brands in North America,” said Ulrike Sapiro, Chief Sustainability Officer at Henkel. “This is an important, concrete step toward realizing our vision of a regenerative planet through a climate-friendly business model. Working together with partners like Shell will help get us there faster.”

    Shell estimates that replacing up to 200,000 tonnes of fossil feedstocks with renewable feedstocks has the potential to reduce greenhouse gas emissions by up to 120,000 tonnes of CO2e over the length of the five-year agreement.

    Starting in 2023, up to 200,000 tonnes of renewable feedstocks will be used by Shell during a combined manufacturing process (along with fossil feedstocks) to produce surfactants. Using the mass balance approach, an independent accounting process is applied to enable Shell to attribute the total tonnes of renewable feedstocks used in the process solely to Henkel. This mass balance process and attribution will be verified by an independent, third-party certification organization such as (but not limited to) ISCC, REDcert, and SCS global services.

    “A mass balance approach is an important step to support the growth of more sustainable raw materials being used in the supply chain and support a reduction in the overall mix of fossil-based ingredients,” said Jillaine Dellis, Vice President, Sustainability & Industry Relations, Henkel Consumer Brands, North America. “We are delighted to enhance the sustainability of our top-selling consumer brands in North America through this transition to renewable-based ingredients while offering the same outstanding cleaning performance and fabric care our consumers have come to expect from Henkel.”

    Robin Mooldijk, Executive Vice President, Shell Chemicals and Products said, “This agreement represents Shell’s first-of-its-kind commercial scale deal for renewable-based chemicals anywhere in the world. I’m pleased to be working with Henkel and helping it take important steps towards achieving its sustainability goals.”

    The surfactants will be produced at the Shell Energy and Chemicals Park Norco and Shell Geismar Chemicals facility in Louisiana. Shell will use independently certified sustainable feedstocks.

    Mooldijk added, “Our collaboration with Henkel is a fantastic example of the opportunity for future growth. We are investing in our chemicals facilities, including on the U.S. Gulf Coast, to scale up Shell’s sustainable chemicals capabilities and deliver the integrated and sustainable offers our customers increasingly want.”

    To strengthen Shell’s growth in renewable-based chemicals, Shell has also taken a final investment decision to add renewable-based feedstock capability for its 3450 KTA Diesel Hydrotreater Unit (DHT) at the Shell Energy and Chemicals Park Norco. Through integration with Shell Geismar, the DHT Unit increases Shell’s capacity to produce a range of renewable-based chemicals for customers in North America and globally.

    Shell Performance Surfactants will be supplied.

    About Shell Chemicals: Shell’s global chemicals business supplies customers with a range of base, intermediate, and performance chemicals used to make products that people use every day. These finished products contribute to society’s ability to live, work, care and respond to climate change. As global demand for chemicals increases, we plan to grow our business, by understanding and providing for our customers’ needs. Our business is versatile and resilient. We have strong market positions, integrated world-scale assets, leading technologies, and a commitment to a sustainable future. References to the expressions “Shell”, “Shell’s chemicals business” or “Shell’s chemical plants” refer to multiple companies that are part of the Shell Group that are engaged in chemical or related businesses. For more information, please visit www.shell.com/chemicals.

    About Henkel in North America: Henkel’s portfolio of well-known brands in North America includes Schwarzkopf hair care, Dial soaps, Persil, Purex, and all laundry detergents, Snuggle fabric softeners as well as Loctite, Technomelt, and Bonderite adhesives. With sales close to 6 billion US dollars (5 billion euros) in 2021, North America accounts for 25 percent of the company’s global sales. Henkel employs over 8,000 people across the U.S., Canada, and Puerto Rico. For more information, please visit www.henkel-northamerica.com, and on Twitter @Henkel_NA.

    About Henkel: With its brands, innovations, and technologies, Henkel holds leading market positions worldwide in the industrial and consumer businesses. The business unit Adhesive Technologies is the global leader in the market of adhesives, sealants, and functional coatings. With Consumer Brands, the company holds leading positions, especially in hair care and laundry & home care in many markets and categories around the world. The company’s three strongest brands are Loctite, Persil, and Schwarzkopf. In fiscal 2021, Henkel reported sales of more than 20 billion euros and an adjusted operating profit of around 2.7 billion euros. Henkel’s preferred shares are listed in the German stock index DAX. Sustainability has a long tradition at Henkel, and the company has a clear sustainability strategy with concrete targets. Henkel was founded in 1876 and today employs a diverse team of more than 50,000 people worldwide – united by a strong corporate culture, shared values, and a common purpose: “Pioneers at heart for the good of generations.” More information at www.henkel.com

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    Beat Pollution, Switch To Clean Energy, Says NLNG

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    as well as the environmentNLNG Urges Switch To Clean Energy

    …pollution is harmful to our body, environment

    Olushola Okunlade Writes

    Nigeria LNG Limited (NLNG) has urged the general public on switching to clean energy to eliminate environmental pollution.

    Pollution is harmful to our bodies as well as the environment. Let’s beat it by using clean energy sources, NLNG stated on its Twitter page.

    Through the supply of LPG, NLNG prioritised the supply of clean energy in Nigeria while working collaboratively with the government to grow LPG consumption in Nigeria as part of the national journey to a clean energy future. NLNG also expanded its capability in running our plants to generate electricity.

    NLNG was incorporated to harness Nigeria’s vast gas natural resources and produce LNG and NGLs for export, the company said “if you’re interested in doing more good for the environment, consider switching to clean energy.

    Clean energy plans are the easiest way to reduce your home’s carbon footprint. Clean energy solutions are becoming cheaper, more reliable, and more efficient every day. Reliance on fossil fuels is unsustainable and harmful to the planet, which is why Nigerians have to change the way we produce and consume energy. Implementing these new energy solutions as fast as possible is essential to counter climate change, one of the biggest threats to survival.

    #NLNGCleanEnergy #BeatDownPollution

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