Oando Exploration and Production (OEPL), in line with its commitment to fast track the development of its upstream assets, today in Uyo, Akwa Ibom, signed a Global Memorandum of Understanding with the Ukana South 1 communities, within block OPL 236.…
2007 Highlights Compared to 2006: Gross profit grew to N21.4billion from N16.8b Gross profit margin increased to 11.5% from 9.0% Operating profit of N8.1 billion in 2007 from N5.3 billion Profit attributable to shareholders up 78% to N4.8 billion from…
Oando Plc, which has a primary listing on the Nigerian Stock Exchange and a secondary listing on the JSE Limited (JSE) reports Group Profit After Tax (PAT) for the financial year ended 31 December 2007 of $50m, an increase of…
Oando PLC, Nigeria’s leading energy group, in a bid to ensure only gasoline with the right ethanol level is sold in the country, has announced that it has placed orders for two state-of-the-art ethanol testing equipment known as the ‘Varian…
On 25th February 2008 we advised that we have entered into a sale and purchase agreement to acquire Shell’s Nigeria Exploration and Production’s 49.8% stake in two oil blocks namely OMLs 125 & 134, subject to a waiver of pre-emption…
Oando PLC’s subsidiary, Gaslink Nigeria Limited, is the leading indigenous industrial natural gas provider. The main section of the Greater Lagos Phase III pipeline system was certified safe for operations following a successfully conducted hydrostatic pressure test in February 2008.…
Contaminated Fuel: Oando to sue Manufacturer Contaminated Fuel: Oando to sue Manufacturer - In the bid to ensuring that the suppliers of the product are held responsible for all actions for which they are culpable, Oando has commenced necessary legal…
Oando PLC has acquired Shell Nigeria Exploration and Production’s 49.8% stake in two oil Blocks, namely OML 125 and OML 134. The two deepwater blocks offshore Nigeria were won by Oando in an international competitive bidding process. The two stakes…
On 31 January 2008, Oando Plc, Nigeria’s leading indigenous integrated oil & gas company, listed on the Lagos and Johannesburg Stock Exchanges, executed a US$200 million 2 year NGN-linked bilateral Loan Agreement with Merrill Lynch International (the “Loan”). The Loan…
Oando Energy Services, a leading integrated oilfield services company that provides products and services to major upstream companies operating in Nigeria and a subsidiary of Oando PLC, has acquired two swamp rigs for upstream operations in the Niger-Delta area, as…