Seplat Power Plc, in partnership with the Nigerian Nationwide Petroleum Firm Restricted (NNPCL), has accomplished its first home provide of Liquefied Petroleum Gasoline (LPG) – Butane – from the Bonny River Terminal (BRT) in Rivers State, marking an vital step towards strengthening power safety and sustainability.
On this operation, 12,600 metric tons (MT) of LPG have been delivered to the Nigerian market, shifting the BRT from its conventional function as an export hub and supporting Seplat’s efforts to develop native power provide whereas decreasing dependence on imported cooking fuel.
The provision is a part of Seplat’s broader plan to broaden home fuel infrastructure, with two main initiatives nearing completion: the 300 MMscfd ANOH Gasoline Plant in Imo State and the 90 MMscfd Sapele Gasoline Plant in Delta State.
By growing the provision of domestically produced LPG, Seplat Power is enhancing entry to scrub cooking gasoline and serving to to scale back greenhouse fuel emissions from conventional biomass sources, that are nonetheless utilized by greater than 80% of Nigerian households.
Roger Brown, Chief Govt Officer of Seplat Power Plc, mentioned:
“Gasoline and LPG utilization is rising quickly in Nigeria, and dependable home provide is important to reaching power safety, decreasing carbon emissions, and enhancing air high quality. At Seplat, we’re proud to be on the forefront of this transition, delivering cleaner power options that empower communities and assist sustainable development.”
This stride mirrors the corporate’s acquisition of Mobil Producing Nigeria Limitless (MPNU) in This fall 2024, now renamed Seplat Power Producing Nigeria Limitless (SEPNU).
In Q1 2025, Seplat Power Plc reported an 11% improve in complete manufacturing following the acquisition of SEPNU. This was disclosed within the firm’s audited {financial} outcomes for the yr ended December 31, 2024.
In keeping with the report, Seplat’s onshore property averaged 48,618 barrels of oil equal per day (boepd) in 2024, a 2% improve from 47,758 boepd recorded in 2023.
Following the acquisition, Seplat’s independently audited 2P reserves rose by 85% to 886 million barrels of oil equal (MMboe), up from 478 MMboe in 2023.
In keeping with its H1 2025 outcomes, Seplat’s common each day working curiosity manufacturing jumped to 134,492 boepd, almost triple the 48,407 boepd recorded in H1 2024.
Seplat Power Plc delivered robust top-line development in Q2 2025, with income surging 206.5% to N939.2 billion, lifting H1 2025 income to N2.1 trillion, already 31% above the corporate’s full-year 2024 income.
Gross revenue rose 18% year-on-year to N215.8 billion in Q2, pushing H1 gross revenue up 204% to N751.2 billion. Whereas pretax revenue jumped 86% year-on-year to N454.1 billion, regardless of value pressures in Q2.
