Seplat Energy Hits N14,907 Per Share As Hormuz Disruption Drives Oil Tally

Seplat Energy Plc has set a fresh all-time high on the Nigerian Exchange Limited (NGX), with its share price closing at N14,907.80 on September 16, a 52-week peak driven by mounting disruption in global oil markets.

The stock’s latest advance follows a 10 per cent jump from N13,552.60 recorded on September 10, and comes amid intensifying supply concerns linked to the ongoing US-Iran conflict, which has disrupted shipping through the Strait of Hormuz, one of the world’s busiest crude oil corridors.

Data from the NGX show Seplat’s rally has moved in sharp, stepped increases rather than a steady climb. The counter closed at N12,320.60 on September 2, rose 10 per cent to N13,552.60 the next day, held at that level for nearly a week, then advanced another 10 per cent to reach its current record on September 10.

Over a 12-month horizon, the appreciation is even steeper. Seplat has gained roughly 177 per cent since trading at N5,379 a year ago, a re-rating that analysts say extends well beyond the immediate impact of the Hormuz disruption and reflects a broader reassessment of the company’s value by investors.

The Strait of Hormuz, through which a significant share of the world’s seaborne crude passes, has seen sharply reduced vessel traffic in recent days. Reuters data cited only three commercial vessels transiting the strait on September 16, against 12 the day before and a 10-day average of 17. The disruption has kept crude prices above $100 per barrel, though prices eased slightly on September 17 as some supply concerns moderated.

Seplat’s performance has outpaced its peers on the exchange, standing out against a more mixed showing among other listed oil and gas companies as the sector responds unevenly to the global supply shock.