Nigeria’s biggest energy company by market value Seplat is upbeat it will be able to finalise talks with parties that will allow it to advance to the decisive stage of the deal to purchase ExxonMobil’s offshore shallow water business.
The acquisition is key to actualising the most ambitious move ever by Seplat, which is listed in both London and Lagos.
The deal, which has ground to a halt for nearly two years, is expected to expand Seplat’s production by as much as 186 per cent.… Read the rest
Daily oil production in Nigeria rose by 14 percent in September to 1.346 million barrels compared to 1.181 million barrels produced in August, latest data from the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has revealed.
Despite the improvement, however, oil production remained significantly lower than the 2023 Budget benchmark of 1.69 million barrels per day and the OPEC quota of 1.7 million barrels per day.
… Read the rest