Jay

Energy investor

[Jay @Jay_M85]

@dammiedammie35 it’s mostly in Africa (sorry to say ) that “obsession ” with getting rich at that level by any means is rampant

In the west riches usually stem from just adding value to something that enhances the way of life for others, the money isn’t the goal it’s just an extra.

[ARISE NEWS @ARISEtv]

The Supreme Court has ordered the Chief Registrar of the Court of Appeal and the Admiralty Marshal to immediately hand over the crude oil aboard the FPSO Tamara Tokoni to General Hydrocarbons Limited (GHL).

In a unanimous judgment delivered on Friday, the apex court also dismissed the case instituted by First Bank of Nigeria (FBN), holding that the dispute was contractual in nature and did not fall within the jurisdiction of the Federal High Court as an admiralty matter.

The five-member panel of the Supreme Court consequently allowed General Hydrocarbons’ appeal and set aside the judgment of the Court of Appeal.

The justices held that the lower courts lacked jurisdiction to entertain the matter as an admiralty case.

The panel comprised Justices Uwani Musa Abba Aji, Adamu Jauro Salawa, Justice Emmanuel A. Agim, Tijjani Abubakar and Habeeb Adewale Abiru, who read the lead judgment.

The court directed that the crude oil aboard the FPSO Tamara Tokoni be released to General Hydrocarbons forthwith and without delay.

[Crypto Senko @keanxley]

SEPL

SEPL is now down over 20% from its previous ATH, with Seplat London losing the crucial 500p psychological level. That breakdown is significant, as it signals weakening momentum after months of sustained bullish price action.

For me, the next level to watch is the 439p support zone. I want to see how price reacts there. If the bulls fail to defend that region and we get a decisive breakdown, then the path toward 400p opens up quickly.

At this stage, the trend remains corrective, and until buyers reclaim 500p, rallies should be treated with caution. The 439p level is now the line in the sand for the bulls. Failure to hold it could trigger another leg lower toward the 400p handle.

#NFA

[Jay @Jay_M85]

https://t.co/uoPQLk1dvW

[Bloomberg @business]

Former Nigerian oil minister, Diezani Alison-Madueke, was cleared of all bribery charges following a London trial that lasted for five months https://t.co/QHPWhFUU6d

[Jay @Jay_M85]

@keanxley Again , why seplat changed its cooperate governance rules to elect a major holder as chairman is my grey area of concern.

Under LSE best practices an independent director should have taken over.

Will watch this keenly and know when to dip.

[Crypto Senko @keanxley]

SEPL

Now down about 20% from its previous all-time high of 620p, with Seplat London seemingly on the verge of losing the important 500p psychological support level.

This pullback comes as no surprise. A major driver has been the unwinding of the geopolitical risk premium that was priced into oil markets during the U.S.-Iran tensions. With both countries moving toward a peace accord and negotiations progressing positively, crude oil prices have retraced, dragging energy stocks lower in the process.

However, there is another risk factor that the market may not have fully priced in, the recent boardroom changes and the broader question of whether Seplat's corporate governance framework remains as strong and intact as before. Investors will be watching developments on that front very closely.
Technically, should the bulls fail to defend the 500p psychological level, the next major support zone comes in around 439p, with a further decline toward 400p not entirely out of the question.

The coming days and weeks will be particularly interesting for SEPLAT as the market weighs lower geopolitical risks, oil price direction, and company-specific governance developments.

As always, price action around key support levels will provide important clues regarding the stock's next major move.

#NFA

[Jay @Jay_M85]

@thecableng Let me get this straight , an arm of govt summoned a questionable ex govt appointee 9 times and he didn’t show up but what the senators are more worried about is his reckless statements used out of annoyance 😵‍💫

[Jay @Jay_M85]

@Rxbremen Oh well. Fingers crossed

[Jay @Jay_M85]

@the_olany This is one quiet oil/Gas smooth operator.

Bought into seplat very early , no noise just making moves.

Didn’t request for a seat on the board of seplat rather speaks through one of the major shareholders.

Top dawg 🫡

[Jay @Jay_M85]

@NUPRCofficial why is terminal breakdown figure totally different from what’s being reported ? 🤔🤔.

[NUPRC @NUPRCofficial]

Nigeria meets 102% of OPEC Quota as Production Hits 11-Month High

Nigeria’s oil production witnessed an upswing in May 2026, averaging 1,530,354 barrels of crude oil and 170,446 barrels of condensates per day, bringing the total combined production to 1, 700, 800 barrels per day and consolidating Nigeria’s position as Africa’s largest oil producer.

The average crude oil production recorded during the month of May represents 102% of Nigeria’s 1.5mbpd of production quota allocated by the Organisation of the Petroleum Exporting Countries (OPEC).

Production performance during the review period remained robust, with combined crude oil and condensate output ranging between a low of 1.51 million bpd and a peak of 1.86 million bpd.

The May 2026 production figures represent the highest recorded by Nigeria since July 2025 when output surged to 1,712,282

In strict crude oil terms (excluding condensates), the 1.53 million barrels recorded in May 2026 represents the highest Nigeria has witnessed since January 2025 when crude oil production hit 1.538mbpd.

The latest crude oil production statistics thus represents a 15-month high
On a month on month basis, production rose by 2.77% in May 2026 as against 1.48mbpd in April.

The broader production trend over the last five months has also remained positive. Combined crude oil and condensate output increased from 1.48 million bpd in February to 1.54 million bpd in March, 1.66 million bpd in April, and then 1.7 million bpd in May, underscoring sustained growth in Nigeria’s hydrocarbon production levels.

Among production streams, Bonny Terminal led the pack with a total blend of 293,870 bpd, closely followed by Forcados Terminal at 289,900 bpd. Qua Iboe ranked third with 173,360 bpd, while Escravos Oil Terminal contributed 135,470 bpd.

Odudu (Amenam Blend) completed the top five production streams, accounting for 63,250 bpd during the month under review.

The NUPRC attributes the rise in production to a sustained positive momentum as operations remained stable throughout the reporting period with no significant pipeline or facility outages recorded.

Additionally, all previously scheduled turnaround maintenance activities had been successfully completed, contributing to improved operational reliability and production efficiency.

To download full report, visit: https://t.co/LyLY42JQ22

Eniola Akinkuotu
Head, Media and Corporate Communications

[Jay @Jay_M85]

@the_olany Yup.

The main battle is only getting started now as Tony doesn’t take any POW. 😀

[Jay @Jay_M85]

https://t.co/jJi5w9sUq5

[Jay @Jay_M85]

@budgetOdogwu @Sirborji What i have abit of concern is Seplat changed its internal policy of appointing large shareholder as board chairman as per corporate governance adherence

I personally think its too much power concentrated but lets see.

Congrats to him.

[Jay @Jay_M85]

Really interesting. To have a large shareholder become the chairman shows a shift in control.

Elumelu takes no prisoners. Congrats to him. 🫱🏾‍🫲🏽

[Nairametrics @Nairametrics]

BREAKING: Seplat Energy appoints Tony Elumelu as Chairman, names Effiong Okon CEO https://t.co/r03i4irceP

[Nairametrics @Nairametrics]

BREAKING: Seplat Energy appoints Tony Elumelu as Chairman, names Effiong Okon CEO https://t.co/r03i4irceP

[Jay @Jay_M85]

@MobilePunch No wahala. Eventually the data will reveal who and where in Nigeria is better off with our collective choices.

No one is gaslighted again by all these media shenanigans. We Dey here.

[Jay @Jay_M85]

@NigeriaStories Let them vote whoever they want.

The data however will eventually reveal who is better or worse off. 🤷🏽‍♂️

[Jay @Jay_M85]

@olumidecapital Yes. They should get it back Legally with due process.

At some point both parties will have to sit down. Agbero tactics will only drag out issues to infinity