Seplat Energy CEO Roger Brown has said the ongoing tensions between the United States and Iran could trigger higher oil prices, creating additional cash flow opportunities for the company.
Brown made the remarks during Seplat’s 13th Annual General Meeting (AGM) held on May 20, 2026, where shareholders approved several company resolutions.
According to the CEO, Seplat prepared its 2025 budget using conservative oil price assumptions of between $65 and $70 per barrel before recent geopolitical tensions pushed crude prices upward.
Speaking on the potential impact of the conflict, Brown said, “We will likely see higher oil prices while the Iran-U.S. squabbles exist, and we will likely benefit from additional cash flow.”
According to Roger Brown, the company expects additional cash flow from higher crude oil prices, which will be directed toward operations, reducing leverage, and creating more value for shareholders.
Speaking on the significance of the development, he said the achievement was “very material and important to Nigeria,” especially as the country seeks to deepen domestic gas utilization.
He added that Seplat also holds about 1.5 billion barrels in 2C resources, with a significant portion tied to its gas business, bringing the company’s combined 2P and 2C reserves to roughly 2.5 billion barrels.
At the meeting, 100% of shareholders holding 412,229,915 shares of the company approved the total dividend equivalent to N113.78 per share for the period ended December 31, 2025.
Before the Annual General Meeting, the board of Seplat Energy proposed a final dividend of 5 U.S. cents and a special dividend of 3.3 U.S. cents per share for shareholder approval.
The combined payout translated to N113.78 per share using an exchange rate of N1,370.89 recommended by the board, based on the Central Bank of Nigeria’s official rate as of May 14, 2026.
Based on the company’s 599.9 million outstanding shares, the total dividend was valued at about N68.26 billion and was likely paid from FY2025 retained earnings of N342.4 billion, which rose 9.5% year-on-year.
For FY2025, Seplat reported a pretax profit of N755.5 billion, up from N394.6 billion in the previous year, supported by stronger revenue growth across its operations.
Revenue climbed to N4.1 trillion from N1.6 trillion, driven mainly by crude oil sales of N3.7 trillion, alongside gas sales of N279.4 billion and natural gas liquids revenue of N81.7 billion.
