OANDO PLC (OANDO) Stock Shares information

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Company Name: OANDO PLC (OANDO)
Ticker: OANDO
Market Classification: Main Board
Sector: OIL AND GAS
Sub Sector: Integrated Oil and Gas Service
Nature of Business: Exploration and Production and Energy Services. Gas and Power,Marketing, Supply and Trading and Refinning and Terminal
Company Address: The Wings Office Complex, 17a Ozumba Mbadiwe Avenue,Victoria Island, Lagos
Telephone: 2702400
Fax:
Email: info@oandoplc.com
Auditor: EYNIGERIA
Registrar: First Registrars Nigeria Limited
Company Secretary: Ms Ayotola Jagun
Date Listed: February 24th 1992
Date of Incorporation: August 25th 1969
Website:
Board Of Directors:
Alhaji Bukar Goni Aji OON, Dr. Ainojie Alex Irune , HRM Oba Adedotun Gbadebo, CFR, Alake of Egbaland, Mr. Ademola Akinrele, SAN , Mr. Ikeme Osakwe, Mr. Jubril Adewale Tinubu , Mr. Muntari Zubairu, Mr. Omamofe Boyo, Olufemi Adeyemo, Tanimu Yakubu

Trading Information
Trading Name: OANDO PLC (OANDO)
Ticker Symbol: OANDO
Sector: OIL AND GAS
Sub Sector: Integrated Oil and Gas Service
Market Classification: Main Board
Market Cap (Mil.): 32,570,300,700.22
Shares Outstanding (Mil.): 12,431,412,481

 

[Adewale Stock]

Remember Oando went up 10% over the last couple of weeks and down yesterday my the same 10%. What you hold in ur portfolio will determine your earnings

 

[Adewale Stock]

Oando stock court case postponed again,

 

[Adewale Stock]

Nigeria's NNPC says Eni unit did not obtain its consent in Oando sale​

LONDON, Sept 7 (Reuters) - Nigerian state oil firm NNPC Ltd says a subsidiary of Italy's Eni did not obtain its consent prior to announcing a deal to sell onshore oil assets to local firm Oando PLC, a failure that could have breached terms of a joint operating agreement, according to a letter seen by Reuters.

The letter casts doubt on the speed of the transaction, announced on Monday, and underscores the difficulty international oil majors have faced in their years-long efforts to sell onshore oil and gas assets in Nigeria.

In the letter, dated Sept. 4, NNPC said that Eni subsidiary Nigerian Agip Oil Company Ltd (NAOC) did not seek its consent before it announced the deal, and that its consent was mandatory before transferring participating interest in a joint venture.

NNPC called failure to obtain prior written consent "a grave breach" of the joint operating agreement (JOA).

The state oil firm's subsidiary NNPC Exploration and Production Limited (NEPL) holds a 60% stake in a NAOC joint venture.

 

[Adewale Stock]

Oando, Afreximbank sign $800m deal​

Oando Plc has signed a $800m deal with the African Export and Import Bank at the ongoing Intra-African Trade Fair in Cairo, Egypt.

In a tweet on its X handle on Wednesday, IATF said that the deal was for a syndicated dual facility.

It said, “Afreximbank has signed a US$800M Syndicated Dual Facility deal with Oando! This strengthens Afreximbank’s commitment to empower African institutions and enhance local capacity. A game-changer for Oando, propelling them to new heights in the oil industry!”

In a separate update on the deal, IATF said that the financial package comprised of a $500m Senior Secured Reserve Based Lending facility and a $300m Receivables Backed Term Loan facility.

The aim is to fuel a strategic acquisition of a 20 per cent participating interest in the Nigerian Agip Oil Company Limited. This includes Oil Mining Leases 60, 61, 62, and 63, as well as the entire issued share capital of NAOC, acquired from Eni S.A.

The continental lender, Afreximbank, said that the move perfectly aligns with its unwavering commitment to supporting indigenous African institutions.

“The facility underscores our dedication to financing transactions that not only boost Africa’s trade but also empower local companies by transferring capacity from foreign institutions to African hands.

“This acquisition is a pivotal moment for Oando, propelling it to new heights in the oilindustry by significantly enhancing its production capacity. Beyond that, this financing is a shining example of Afreximbank’s prowess in mobilizing capital for robust transactions within its member nations,” Afreximbank said in the statement shared on its Instagram page on Wednesday.
In September, Oando Plc announced that it had reached an agreement with Italian firm, Eni, for the acquisition of 100 per cent of the shares of its oil and gas unit, Nigerian Agip Oil Company Limited.

With this transaction, Oando increases its current participating interests in OMLs 60, 61, 62, and 63 from 20 per cent to 40 per cent.

Oando’s ownership stake in all NEPL/NAOC/OOL Joint Venture assets and infrastructure which include forty discovered oil and gas fields, of which 24 are currently producing, approximately forty identified prospects and leads, twelve production stations, approximately 1,490 km of pipelines, three gas processing plants, the Brass River Oil Terminal, the Kwale-Okpai phases 1 & 2 power plants (with a total nameplate capacity of 960MW), and associated infrastructure, has also increased.

Meanwhile, since the commencement of the IATF holding in Cairo, Egypt, Afreximbank has signed over 10 financing deals with companies across different sectors to facilitate Africa’s growth ambitions.

 

[DinoOmoAle]

How can one buy Oando shares ?