Seplat Plc.âs Earnings Bounced Back Strongly on Higher Oil Prices
eplat Petroleum Development Company (Ticker: SEPLAT) Plc.âs earnings bounced back strongly on higher oil prices as the global economy heals gradually following the pandemic, analysts maintain buy rating due to strong upside potential.
Profit margin had hit the bottom following the outbreak of coronavirus pandemic in the financial year 2020 when oil prices slide strongly due to lack of demand.
In its first quarter (Q1) of 2021, the indigenous oil exploration and production company saw its profit after tax payment expanded from loss position to profitability.
âWe like that the company grew PAT by over two-fold in the period under review, a development triggered by higher oil price-induced expansion in revenue , rising 6.8% quarter on quarterâ, Chapel Hill Denham said in a report.
Shell pipelines spill 4,309 barrels of crude in H2 20
vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
COVID-19: NNPC-IPPG Kick-Starts Support
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.
YENAGOA-OPOROMA ROAD: Can Gov Diri break 60-yr-old jinx?
On
By Samuel Oyadongha
THE enchantment among residents of over 100 isolated riverine communities in the deep swamp of Southern Ijaw Local Government Area, Bayelsa State, over recommencement of construction work on the Central Senatorial District road linking the council’s headquarters, Oporoma to mainland Yenagoa, the state capital, at the moment, is unspeakable.
On drawing board for 60 years
But the villagers are circumspect in their celebration despite increased pace of work on the road that has been on the drawing board for 60 years by the returnee contractor, China Civil Engineering Construction Company, CCECC, which earlier abandoned the site.
By Samuel Oyadongha
THE enchantment among residents of over 100 isolated riverine communities in the deep swamp of Southern Ijaw Local Government Area, Bayelsa State, over recommencement of construction work on the Central Senatorial District road linking the council’s headquarters, Oporoma to mainland Yenagoa, the state capital, at the moment, is unspeakable.
On drawing board for 60 years
But the villagers are circumspect in their celebration despite increased pace of work on the road that has been on the drawing board for 60 years by the returnee contractor, China Civil Engineering Construction Company, CCECC, which earlier abandoned the site.
One of the residents told NDV: “The project had been on the federal drawing board since the early 60s and was resuscitated by the Chief Timipre Sylva administration, who is presently Minister of State (Petroleum). The contract was awarded to Julius Berger but the project suffered a setback following the withdrawal of the latter from t