Market indicators of the Nigerian Stock Exchange (NSE) on Thursday recorded the first growth for the month, reversing the three-day bearish trend. The indices appreciated by 0.16 per cent just as the volume of shares traded decreased by 45.88 per cent. The All-Share Index appreciated marginally by 52.46 points or 0.16 per cent to close […]
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The Nigerian Civil Aviation Authority (NCAA) has issued the first Remotely Piloted Aircraft/Drones (RPAS) Operators Certificate (ROC) to Oando Plc. The spokesman of the authority, Sam Adurogboye, broke the news yesterday. The RPAS Operators Certificate (ROC), according to Adurogboye shall remain in force till June 15, 2019 and shall be carried on site during each […]
Read More Oando Plc yesterday concluded a debt-to-equity conversion with the listing of about 396.8 million ordinary shares that resulted from the transaction at the Nigerian Stock Exchange (NSE). The transaction was valued at N3.17 billion at the closing value of the integrated energy group. The listing of the conversion shares increased Oando’s outstanding paid up shares […]
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The Nigeria Union of Petroleum and Natural Gas Workers has vowed to shut down the oil sector if the Federal Government fails to rescind its decision on the sale of the Port Harcourt Refining and Petrochemical Company to Oando Plc. The union alleged that the government had ignored the recent resolution by the Senate, which […]
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The Senate, yesterday, ordered the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC) to halt further action or planned concession of the Port Harcourt Refinery to Agip and Oando. In a motion sponsored by Senator Sabo Mohammed and tagged, “Non-Transparent Transaction relating to the planned concession of the Port Harcourt Refinery […]
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Chief Executive Officer of Nigeria’s Oando says worst disruptions in oil-producing Delta region are over, and production could reach 2.2 million barrels per day (bpd) by the end of June. Oando chief Pade Durotoye told the Africa Independents Forum on Wednesday in London that the long-closed Forcados oilfield could also be back to capacity by […]
Read More … To take over Port Harcourt Refinery Nigeria’s formost petroleum company, Oando Plc, has revealed plans to raise additional capital from investors which would support its recovery strategy. This was disclosed by the company’s Group Managing Director, Wale Tinubu, while addressing stockbrokers, investors and financial journalist at the Nigerian Stock Exchange (NSE) during its facts […]
Read More Oando Plc’s strategy of growth across its business operations has steadily paid off as it records ₦1.7 billion profit in Q1 2017. The company’s turnover grew by 116 per cent to ₦138.4 billion and gross profit by 53 per cent to ₦13.4 billion compared to the first quarter of 2016. Oando’s ₦1.7 billion profit can […]
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Oando Gas and Power Limited, a subsidiary of Oando plans to raise $1billion to implement some short to long term projects it has lined up. According to correspondence, the cash may not come from local financial institutions. According to the Managing Director of the company, Mr. Bolaji Osunsanya, the money will be used for several […]
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At the close of trading on the floor of the Nigerian Stock Exchange on Tuesday, Ecobank Transnational Incorporated, Oando Plc and Diamond Bank Plc led the market to a loss of N38bn. Ikeja Hotel Plc and Unity Bank Plc followed on the losers’ table alongside 21 other losers. The NSE market capitalisation sank to N8.855tn from […]
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