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Tag: Seplat Energy

Business featured

Seplat sells 10% JV stake to NNPCL for $281.6m

Seplat Energy Plc has signed a legally binding agreement to sell a 10 per cent working interest in its joint venture assets with the Nigerian National Petroleum Company Limited, NNPC Limited, for approximately $281.6 million. The Nigerian energy company disclosed the transaction in a statement issued on July 30 and published on its official website, […]

Policy and Regulations

Court voids Reps’ ₦72.624bn oil spill order against Seplat

A Federal High Court in Lagos has set aside a directive by the House of Representatives Committee ordering Seplat Energy Producing Nigeria Unlimited, to pay N72.624 billion as compensation to communities over alleged oil spill incidents, holding that the National Assembly exceeded its constitutional powers. The court held that the directive amounted to an unconstitutional […]

Business

Tony Elumelu named Seplat chairman in major leadership shakeup

Seplat Energy Plc has announced major leadership changes, with billionaire investor and philanthropist Tony O. Elumelu set to become Chairman of the Board in 2027, in a transition that underscores the company’s next phase of expansion and governance continuity. The announcement also confirms the planned retirement of Chief Executive Officer Roger Brown on July 31, […]

Business

Seplat CEOs increase ownership stake after LTIP share exercise

Seplat Energy Plc has announced that its Chief Executive Officer, Roger Brown, and Chief Financial Officer, Eleanor Adaralegbe, have increased their ownership stakes in the company following the exercise of 2.67 million vested shares under Seplat’s 2014 Long-Term Incentive Plan. Nairametrics reported that the disclosure, signed by Director, Legal/Company Secretary, Edith Onwuchekwa, and filed with […]

Tony Elumelu
Business

Tony Elumelu set for Seplat Energy board seat

Multi-billionaire founder and chairman of United Bank for Africa Plc, Mr. Tony Elumelu, is expected to be formally elected to the board of Seplat Energy Plc on Wednesday, May 20, 2026. Shareholders will gather virtually for the company’s 13th Annual General Meeting on that date. This development is according to the energy company’s Notice of […]

Oil and Gas

Seplat restores 49 idle wells, targets 50 more in 2026

Seplat Energy Plc, the Nigerian oil and gas company that acquired ExxonMobil’s onshore and shallow-water assets in a landmark $1.28 billion deal, has successfully restored 49 idle wells to production as part of an aggressive turnaround strategy. The company is already planning to bring 50 more back online this year. The Lagos-and London-listed producer said […]

Business

Seplat profit surged 87% to $498m in 2025 — NGX

Seplat Energy Plc has released its audited financial results for the year ended December 31, 2025. The results were announced on the Nigerian Exchange Limited and the London Stock Exchange. The company reported profit before tax growth of 86.7 percent to $497.8 million, compared to $266.7 million in the previous year. Gross profit rose 156.4 […]

Business

Seplat Energy appoints Tony Elumelu as non-executive director

Seplat Energy Plc has named Mr. Tony O. Elumelu as a Non-Executive Director, following the resignation of Mr. Olivier Cleret De Langavant, who stepped down after Etablissements Maurel et Prom SA divested its stake in the company. The company’s statement, signed by Company Secretary Mrs. Edith Onwuchekwa, confirmed that Mr. Elumelu’s appointment and Mr. Langavant’s […]

Oil and Gas

Seplat’s ANOH gas project produces first gas

Seplat Energy Plc has announced that the 300 MMcfd ANOH project has achieved first gas. The company made this disclosure in filings on the Nigerian Exchange and London Exchange on Tuesday, addressed to investors and the public. Following the completion of the 11km Indorama gas export pipeline and receipt of regulatory approval from the Nigerian […]

Energy featured

Energy sector records $1.3bn surge amid Elumelu, Otedola deals

Nigeria’s energy sector recorded transactions valued at $1.3 billion within four days ending December 31, marking one of the most active deal-making periods the industry has witnessed in several years. The flurry of transactions, which took place between December 29 and December 31, featured billionaire investor Tony Elumelu’s Heirs Energies Limited acquiring a significant 20 […]

Business

Elumelu’s Heirs Energies acquires major stake in Seplat Energy

Tony Elumelu’s Heirs Energies has acquired a 20 per cent stake in Seplat Energy in a transaction valued at approximately 500 million dollars, making it the single largest shareholder in the Nigerian energy company. The landmark acquisition was backed by two major African financial institutions, Afreximbank and Africa Finance Corporation, underscoring the growing capacity of […]

Business

Seplat CEO applauds NNPCL’s financial reforms, improved discipline

The Chief Executive Officer of Seplat Energy Plc, Roger Brown, says the Nigerian National Petroleum Company Limited has cleared its legacy debts and now operates with greater financial discipline — a development he described as a “game changer” for local oil firms. Speaking at a panel session titled “Harnessing Africa’s Energy Shift – From Acquisition […]

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