Tag Archives: Oando

Shareholders of Oando Plc, have applauded the company’s determination at creating value for its members by way of building a global reputable going concern, even as they gave thumb-up for its aggressive debt reduction drive. Creating value for shareholders by delivering on the bottom line to building a reputable company / brand worth investing in, have always been the business …

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In investment palance, Return on Investment (ROI) has always being the hallmark of every investors, with Nigerian shareholders not being an exception, much especially with the recent contraption in the domestic econonmy which was occasioned by the downward trend in global prices of oil. The meltdown in oil internationally hard its adverse effect on every unit of the economy, especially …

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The Securities and Exchange Commission has given approval to Oando Plc to conduct its Annual General Meeting hitherto slated for September 11, 2017. This came after the Special Task Team constituted by SEC to review petitions filed by Alhaji Dahiru Bara’u Mangal and Ansbury Inc against Oando, submitted an interim report, which cleared the oil major of the allegations. This …

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Oando Nigeria Plc, in a statement to the Nigerian Stock Exchange explains its position on the allegation that the company is under a comprehensive investigation by the Securities and Exchange Commission (SEC) following petitions filed by some foreign investors in Oando Nigeria Plc, in relation to shareholding structure following the 1.65 billion dollar cash that Oando paid in June 2014 …

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Integrated Energy Trader, Oando Nigeria PLC is under a comprehensive investigation by the Securities and Exchange Commission (SEC), Channels Television has said. According to the TV station, it claimed that the Securities Commission conducted several weeks of investigations, upon which the Board and Management of Oando Nigeria have been written a formal letter to explain matters relating to observed malpractices …

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The Group Chief Executive Officer of Oando PLC, Wale Tinubu, appeared before the Senate Joint Committee on Petroleum Resources thursday, to correct allegations regarding Oando’s supposed role in the privatisation of the Port Harcourt refinery. “As indicated in the rejoinder statement we published, I must explicitly state that no mandate for the concession, sale, equity transfer or privatiSation of the …

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Oando Plc said on Monday it was in talks to work with Italian energy company Eni to rehabilitate one of the West African nation’s four refineries. Nigeria, an OPEC oil producer with refining capacity on paper of 445,000 barrels per day (bpd), imports most of its gasoline needs because its refineries have been shut or running at reduced capacity for …

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Oando Plc’s growth strategy across its business operations; deleverage through the divestment of non-performing assets; and profitability, by focusing on dollar denominated export earnings has steadily paid off as it records N1.7billion profit in Q1 2017. The company’s turnover grew by 116% to N138.4 billion and gross profit by 53% to N13.4 billion compared to the first quarter of 2016. …

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Amidst the plethora challenges in the Oil/Gas industry, Oando Plc, has successfully manoeuvred the cyclical nature of the sector by adapting quickly to the new reality of low oil prices and a depressed macro environment. The company commenced 2016 with a reinvigorated strategy of growth, deleverage and profitability. The successful implementation of these initiatives is evident in the company’s FYE …

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  Oando Eyes Profitability; Posts Increased Revenue of N330bn Oando Plc, Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced unaudited results for the nine months period ended 30 September, 2016. The company’s turnover increased by 26 per cent to N330 billion, compared to N262 billion in YTD September 2015, while Gross Profit decreased …

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