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Seplat Energy Profit Surges 498% as Leadership Changes Announced

Seplat Energy Plc reported a 498% year-on-year increase in profit after tax to $164 million for the half-year ended June 30, 2026. Revenue grew to $1.82 billion, supported by a favorable commodity price environment. The company declared a second-quarter dividend of 12 cents per share and announced plans for a total 2026 dividend of 68.3 cents per share, following an agreement to sell a 10% interest in the NNPCL-SEPNU joint venture to NNPC Limited. Effiong Okon will succeed Roger Brown as CEO on August 1, 2026, and Tony Elumelu will become Chairman of the Board on January 1, 2027.

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