Oil buoys Seplat, but pipelines and politics pose problems
Last year, theft on the Nembe Creek Trunk Line (NCTL) and Trans Niger Pipeline ranged from 30% to 90%.
Amukpe-Escravos
Despite pipeline woes, Seplat on the up
Seplat Energy has recorded a strong increase in financial metrics, even while the company struggled to export production in the face of pipeline interruptions.
Seplat reports commercial flows through Amukpe-Escravos pipeline
Seplat Energy said it has begun commercial injection of crude oil through the Amukpe-Escravos pipeline.
Seplat boosts profits, keeps faith on Exxon deal
Seplat Energy has boost profits among higher production, with the company staying confident on its planned purchase of ExxonMobil’s local Nigerian unit.
Oil lifts Seplat higher, but pipe problems continue
Seplat Energy has reported some slow progress at pipeline projects, but with EBITDA growing at 82% year on year it is seeing a clear benefit from higher oil prices.
Seplat expects higher production this year, despite ANOH delays
Seplat Energy saw production drop in 2021 but, with the expectation that a new export route will open in March, expects better things ahead.
Oil woes hit Seplat, while gas holds up
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 feels pinch as prices fall
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.
Seplat touts resilience, shift to gas
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.