Seplat realised N4 of every N5 sales from crude oil, with the rest contributed by gas, an imbalance that appears at variance with its plan to embrace cleaner energy.
Seplat Energy PLC Thursday declared a rebound from loss to profit in its half-year financials, highlighting a rise by half in revenue to N120.4 billion as the redeeming force for the oil and gas firm after a period marked by record oil crash and a pandemic outbreak.realised N4 of every N5 sales it made from crude oil, with the rest contributed by gas, which underscores a steep imbalance between the two income sources.
In the spirit of that transition, the oil driller has disclosed its plan to raise gas’ contribution to revenue to 50 per cent by 2026.
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