Seplat is becoming a money rainmaker in Nigeria
Seplat is becoming a money rainmaker in Nigeria: "Nigeria’s biggest quoted oil and gas company Seplat Energy Thursday posted a net profit of N34 billion ($618.6 million) for the year to September, 144 per cent stronger than the figure reported a year ago in a period during which crude prices averaged $108.3.
Revenue grew to N258.7 billion from N182.7 billion, 86.5 per cent of that contributed by crude oil sales and the rest by gas.
Yet, the quarter from July through September was a kick in the teeth for Seplat, given that turnover shrivelled by 36.5 per cent as operations took a battering from damage and theft in a period CEO Roger Brown described as “unusually challenging.”"
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