One of Nigeriaโs largest independent oil and gas producers spent more than $450 million on goods and services provided by companies linked to its two founders over 12 years, most of it after the firm publicly listed in London and Lagos in 2014.
Former Seplat Energy executive Austin Avuru appears to be clashing with his old company in the pursuit of ExxonMobilโs mature onshore Nigerian assets.
Seplat Petroleumโs revenue fell 6.5% in 2019 while cash flow from operations fell 32.7%, but the company was keen to highlight its resilience to the current macroeconomic shock.