NNPC Records Profit and Stake Acquisition
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The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of N535 billion for June. In a separate development, NNPC is acquiring a 10% joint venture stake from Seplat Energy for $281.6 million.
NNPC records N535bn profit in June
- The Nigerian National Petroleum Company Limited (NNPC) reported a Profit After Tax of N535 billion for June 2026. - This represents a 15.8% increase compared to the N462 billion profit recorded in May. - The company's total revenue for June stood at N4.389 trillion, with cumulative statutory payments to the Federation reaching N6.286 trillion from January to June.
Seplat Energy Sells 10% JV Stake to NNPC for $281.6 Million
- Seplat Energy Plc is selling a 10% stake in its NNPC/Seplat joint venture to the Nigerian National Petroleum Company Ltd (NNPC) for $281.6 million. - The transaction, subject to regulatory approval,…
NNPC deploys over 1,000 new employees after rigorous training
- The Nigerian National Petroleum Company Limited (NNPC Ltd) has deployed over 1,000 young professionals after a year-long training and evaluation program. - Group CEO Bayo Ojulari stated the deployme…
NNPC to acquire Seplat’s 10% JV for $281.6m
- Seplat Energy Plc has agreed to sell a 10% interest in the NNPCL-SEPNU Joint Venture to the Nigerian National Petroleum Company Limited for $281.6 million. - The transaction is expected to enhance s…