Category: Oil and Gas

Oil and Gas

Seplat Energy’s H1 2025 Revenue Hits N2.17trn             … Declares US 4.6 Cents Dividend Per Share for the Quarter

  Seplat Energy Plc has announced its unaudited results for the six months ended 30 June 2025, recording a revenue of N2.167trn for the period from N575.1bn reported same period last year.   Its gross profit soared to N751.2bn from N247.5bn Year-on-Year.   Cash generated from its operations for the period grew to […]

Oando Profit-After-Tax up 267% to N220 billion in FY2024 Audited Results

  Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), posted robust Audited Full Year (FY) 2024 financial results with a 44% increase in revenue to N4.1trillion compared to N2.9 trillion in FY 2023. In the upstream, Oando’s production […]

NEPL/Seplat JV Launches Mini-Grid Project, Celebrates YEP Graduation In Edo State

  The NEPL/Seplat Joint Venture (JV) has unveiled a solar-powered mini-grid project, graduation of its pioneer Youth Entrepreneurship Programme (YEP) participants and the commissioning of a borehole project in Ologbo N’ugu, Edo State. Themed, “Building Capacity for a Greener Grassroots Economy,” the three-pronged initiative is centered on providing access to […]

TotalEnergies Sells 12.5% Stake In Nigeria’s OML118 To Shell For $510m  

French energy giant TotalEnergies has sold its 12.5 per cent non-operated stake in Nigeria’s OML 118 Production Sharing Contract to Shell Nigeria Exploration and Production Company Ltd (SNEPCo) in a deal valued at $510m.   The transaction, conducted through TotalEnergies’ local subsidiary TotalEnergies EP Nigeria (TEPNG), marks another step in […]

Seplat Strengthens Export Capacity Through MPNU Acquisition

  Seplat Energy Plc has reaffirmed its commitment to long-term investments across its core business divisions, following a transformative year in which the company significantly increased its production and reserve base through the acquisition of Mobil Producing Nigeria Unlimited (MPNU).   Addressing shareholders and journalists at the company’s 2025 Annual […]

Nigeria Now Provides Power Access to 150 Million – Adelabu …Says 80 Million Nigerians Still Lack Reliable Electricity Access

    Approximately 150 million Nigerians now have access to electricity, according to the Minister of Power, Adedayo Adelabu, who disclosed the figure on Thursday during the 2025 Ministerial Sectoral Update Conference held in Abuja.   While hailing the achievement, the minister acknowledged that 80 million Nigerians still lack reliable […]

Dangote Polypropylene to Revive Textile Industry, Save Nigeria $267m-MAN

  The Manufacturers Association of Nigeria (MAN) has stated that the production of polypropylene by the Dangote Petroleum Refinery & Petrochemicals will revive Nigeria’s struggling textile industry and save the country $267M in import costs.   In an interview on the Channels Business Incorporated Programme, the Director-General of MAN, Segun […]