A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Favour & Akinola Ajibade Seplat Energy Plc has grown its gas revenue to $63.7 million from $57.8million within a spate of one year, precisely 2023. The feat, which was recorded between 2022 to 2023, saw the only indigenous energy firm with dual exchanges, increasing its gas revenue by $6million. Seplat Energy is listed in both the Nigerian and London Stock Exchanges, a development, which has greatly impacted on the company's fortunes. The growth, which was attributed to increased realised in gas prices and a rise in sales volume, saw Seplat gas price rising by 4.4 per cent to $2.87/Mscf, while gas production saw a moderate 1.4 percent increase to 21.6 Bscf during the same period (compared to 21.3 Bscf in 6M 2022). In its outlook for the remaining part of the year, Seplat Energy said that its group production performance has improved in 2023, thanks to greater uptime on OML40 and reduced losses on its western asset. Also, the company has maintained its 20