Africa's first indigenous IOC: Elumelu, Okon and the new Seplat

By KUNLE ODUSOLA-STEVENSON For decades, the playbook for the African oil and gas sector followed a predictable script. Multinational titans—the historical International Oil Companies (IOCs)—extracted crude from the continent’s rich subsurface, while local indigenous firms operated on the margins, constrained by lack of capital, infrastructure, and deep technical expertise. Today, that old script is being rewritten. […]

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