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Seplat Energy recorded N2.6 billion as penalties for gas flaring from January to September 2023.<\/p>\n

This is according to the figure from the company\u2019s financial statement for the first to third quarters of 2023.<\/p>\n

The figure represents a 50 per cent increase from the N1.3 billion the company paid for the same period in 2022.<\/p>\n

\u201cOperational and maintenance expenses relate mainly to maintenance costs, warehouse operations expenses, security expenses, community expenses, clean-up costs, direct staff costs, fuel supplies, and catering services. Also included in operational and maintenance expenses is a gas flare penalty of N2.6 billion (2022: N1.3 billion),\u201d the statement partly reads.<\/p>\n

Data from the National Oil Spill Detection and Response Agency said the Federal Government lost about N843 billion to gas flaring between January 2022 and August 2023.<\/p>\n

Seplat Energy\u2019s penalties for gas flaring up by 50%<\/p>\n<\/div>\n

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