Seplat Energy Q1 2025 revenue up over 350% to N1.23trn after MPNU acquisition
Post AMUGE
April 28, 2025
Onome Amuge Seplat Energy PLC, a leading Nigerian independent oil and gas company listed on both the Nigerian Exchange and the London Stock Exchange, has reported a strong first quarter for 2025, fueled by an increase in production following its acquisition of Mobil Producing Nigeria Unlimited (MPNU). The company’s audited results for the three months […]
Nigeria loses $345.9m to gas flaring in Q1, 2025, power drops
Post AMUGEApril 28, 2025
Onome Amuge Nigeria’s power generation sector experienced a setback in the first quarter of 2025, losing an estimated 9,900 Gigawatts per hour (GWh) of potential electricity output, attributed to operational inefficiencies and persistent gas flaring. This represents a 16 percent increase in generation losses compared to the 8,300 GWh shortfall suffered in the corresponding period […]
Nigerian oil companies capitalise on major onshore opportunities as foreign giants exit
Post AMUGEJanuary 27, 2025
Analysts predict improved forex earnings, reserves Jobs to be created Onome Amuge Nigeria’s oil and gas industry is undergoing a monumental shift as indigenous companies capitalise on the departure of multinational firms, seizing the opportunity to consolidate their position as leading players in the sector. This trend has opened up a window of opportunity for […]
U.S tops Nigeria’s oil market with N3.6trn purchase in 2024
Post AMUGEDecember 30, 2024
Top 10 importers buy N24.2trn Nigerian oil Onome Amuge The United States has risen to the forefront of Nigeria’s energy export market, unseating The Netherlands as the dominant buyer of Nigerian crude oil in 2024, , as the top ten importers of Nigerian crude accounted for N24.2 trillion worth of the commodity. Data from the […]
Seplat Energy concludes $800m ExxonMobil acquisition
Post AMUGEDecember 12, 2024
Eyes $1.45bn revenue with ambitious 148% production growth Seplat Energy Plc, a leading indigenous energy company listed on both the Nigerian and London Stock Exchanges, has completed its acquisition of Mobil Producing Nigeria Unlimited (“MPNU”) from ExxonMobil . The transaction, which has received approval from the federal government, is set to elevate Seplat Energy’s standing […]
Seplat unveils prospectus for $800M MPNU asset acquisition
Post AMUGEDecember 11, 2024
Eyes $1.45bn revenue with ambitious 148% production growth Onome Amuge Seplat Energy Plc, a leading energy company listed on both the Nigerian and London Stock Exchanges, has confirmed the release of its prospectus for the acquisition of Mobil Producing Nigeria Unlimited (MPNU). The transaction, which has received approval from the federal government, is set to […]
Deregulation not a license to blend off-spec products, jeopardise national interest, Dangote tells Pinnacle Oil
Post AMUGENovember 5, 2024
Bamidele Famoofo Dangote Petroleum Refinery and Petrochemicals has advised Pinnacle Oil and Gas Limited that deregulation should not be used as a justification for the importation of off-spec petroleum products or the undermining of Nigeria’s national interests. The refinery made this statement in response to remarks by Robert Dickerman, CEO of Pinnacle Oil and Gas […]
Oil rebounds on U.S Reserve bid sentiment boost
Post AMUGEOctober 29, 2024
Onome Amuge Oil prices regained some ground on Tuesday, posting considerable gains following Monday’s six percent slide, as the U.S. plan to boost the Strategic Petroleum Reserve (SPR) provided a brief respite from broader concerns about slowing demand growth. Brent crude futures rallied by 63 cents, or 0.88 percent, to reach $72.05 a barrel, while […]
Oando’s $783m NAOC acquisition accentuates growing Nigerian local exploration – AEC
Post AMUGEAugust 28, 2024
Ben Eguzozie The African Energy Chamber (AEC), the voice of energy sector on the continent, has described Oando, Nigerian energy company’s successful acquisition of 100 percent of the shareholding interest of Italian multinational Eni in the Nigerian Agip Oil Company (NAOC), as accentuating the growing role of Nigerian local exploration companies in revitalising the country […]
EIU says Dangote Refinery delay threatens Nigeria’s economy, naira stability
Post AMUGEAugust 19, 2024
Business a.m. The Economist Intelligence Unit (EIU), a London-based research and analysis organisation, has warned that any additional delays in the commencement of petrol production at the Dangote Refinery will have adverse effects on Nigeria’s economic prospects. This prediction is based on the EIU’s expertise in analysing economic trends and forecasting through its various services, […]