BEHIND THE FIGURES: BY IJEOMA NWOGWUGWU, Email: ijeoma.nwogwugwu@thisdaylive.com BEHIND THE FIGURES By Ijeoma Nwogwugwu Mr. Wale Tinubu, the chief executive of Oando Plc, and his deputy, Mofe Boyo, must be squirming uncomfortably in their underwear. Despite their attempt to turn the consequential but partial award of the London Court of International Arbitration (LCIA) on its […]
Tag: XNSA_OANDO
Oando Shares Spike after Senate Approved Outstanding Subsidy Claims for Oil Marketers
The Senate on Wednesday approved the payment of 348 billion outstanding subsidy claims to 74 petroleum marketers in the country. This helped Oando’s share price spike to the top of the gainer’s table on Thursday. The approval followed the adoption of the interim report of the committee on petroleum downstream on the promissory note programme […]
Oando, JV partners rehabilitate roads in host communities
‘Femi Asu Oando Plc, in conjunction with the Nigerian National Petroleum Corporation and the Nigeria Agip Oil Company, has announced the inauguration of road projects with drainage system in its host communities in Imo, Rivers and Bayelsa states. The company said in a statement that three road projects were completed in Imo, namely Flora Nwakuche […]
Oando financials thrive on back of high-demand, low-supply oil environment
JSE-listed Nigerian energy group Oando reported a solid financial footing for the first half of the year on the back of higher oil prices as a direct consequence of increasing demand and lower supply. Higher oil prices , and the resolution of joint venture funding challenges with the Nigerian National Petroleum Corporation , have driven […]
Oando Plc Successfully Concludes 41st Annual General Meeting
Oando PLC (referred to as “Oando” or the “Company”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today successfully concluded its 41st Annual General Meeting at the Eko Hotel and Suites, Victoria Island, Lagos. The following resolutions proposed in the notice to shareholders, were unanimously passed: 1. Receipt of […]
Oando posts 86% rise in half year net profit
The logo of Oando oil company is pictured in Abuja, Nigeria January 23, 2018. REUTERS/Afolabi Sotunde Nigeria’s Oando Plc said its profit after tax for the first half of the year rose by 86%, N8.5 billion compared to N4.6 billion post last year. Revenue for the integrated energy company increased by 11%, N297.3 billion compared […]
Shareholders Reinforce Confidence in Oando Management at 41st AGM
Nigerian oil company, Oando. [Photo credit: Guardian Newspaper] Related News Oando recorded another victory with the successful conclusion of its 41ST Annual General Meeting (AGM) which held on Friday, July 27 at the Eko Hotel and Suites, Lagos. On the eve of the AGM, Thursday, July 26, the company published its H1 2018 results recording […]
Nigeria: Stock Exchange returns go down after Central Bank drops rates
Returns on equity investments on the Nigerian Stock Exchange, NSE, nosedived further in the outgone week by 1.81 per cent, as investors and other financial stakeholders wait for the nation’s fiscal policies. The Central Bank of Nigeria in the outgone week reduced the Monetary Policy Rate to 11 per cent from 13 per cent while […]
Nigeria: Oando Lists $245m right issue
Lagos — Oando Plc has listed N48.7 billion worth of shares on the daily official list of the Nigerian Stock Exchange (NSE). In an issuer’s announcement with the NSE, Oando said: “A total of 2,949,933,156 ordinary shares of 50 kobo each at N16.50 per share belonging to Oando Plc were admitted to trading on 4th […]
Nigerian Gas Tycoon : Govt Losing U.S.$55 Billion Investments Over Low Gas Price
President of the Nigerian Gas Association, NGA, and Managing Director, Oando Gas & Power Limited, Mr. Bolaji Osunsanya, yesterday, called on the Federal Government to increase the prices of gas, stating that the country is losing an estimated $55 billion, about N11 trillion worth of investment due to its refusal to hike gas prices. Speaking […]