Seplat Petroleum has raised cash for its ANOH gas plan from a group of primarily Nigerian banks.
Seplat Petroleum will supply crude to Waltersmith Petroman’s new modular refinery, cutting pipeline losses.
Nigerian President Muhammadu Buhari has welcomed the launch of the Waltersmith modular refinery, in Ibigwe, Imo State, and the groundbreaking for the second phase.
Seplat Petroleum has reported another accident at its OML 40, in the Niger Delta.
Lower oil prices cut into Seplat Petroleum’s revenues for the first nine months of the year, to $388 million down from $494.9mn for the same period of 2019.
Seplat Petroleum has investigated reports of hydrocarbons in some Delta State water wells and is providing assistance to locals.
Austin Avuru has retired from his position as CEO of Seplat Petroleum, paving the way for Roger Brown, current CFO, to take the top spot.
Seplat fell to a loss in the first half of the year as oil prices roughly halved, from $65.16 per barrel in the first half of 2019 to $35.94.
An explosion at a valve station has killed seven people in Nigeria’s OML 40.
Seplat Petroleum’s revenue fell to $130 million in the first quarter, down 18%, with the company blaming an under lift of oil and lower prices.
Seplat Petroleum’s 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.
Working in different locations presents various logistical problems for companies – a problem Progressive TSL aims to tackle.
Nigeria’s Seplat Petroleum has completed its acquisition of Eland Oil and Gas, which owns assets in Nigeria’s Niger Delta.
Nigeria’s Seplat Petroleum has reached an agreement to acquire Aberdeenshire-headquartered Eland Oil and Gas for more than £380 million.