Nigeria’s Seplat Energy PLC has reported $809.3 million in revenue for the first quarter (Q1), up 350 percent from the same three-month period in 2024 as higher oil and gas volumes offset lower prices.
Net profit came at $23.3 million, or 3.1 cents per share, compared to a net loss of $1.9 million for Q1 2024.
According to the leading energy company, gas is the immediate solution to many immediate problems in Africa; thus, there is a compelling development case for investment in the resource.
$1.28B ExxonMobil-Seplat Deal Gains AEC Support, Signaling Nigeria’s Commitment to an Enabling Environment
Pressure from President Bola Tinubu, following two high-level visits from ExxonMobil’s top shots, has cleared the hurdle in the path of the international oil company’s asset sale to indigenous heavyweight, Seplat Energy Plc.