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Company type | Public |
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NGX: OANDO JSE: OAO | |
Industry | Oil and Gas |
Founded | 1956 (ESSO) |
Headquarters | Victoria Island, Lagos, Lagos State, Nigeria. |
Area served | West Africa |
Key people | Adewale Tinubu (chief executive) Omamofe Boyo (DGCE) Ainojie Alex Irune(GED |
Products | Crude oil Natural gas NGL |
Revenue | ₦ 418.2M (2019-Q3) |
₦ 13.2 Billion (2019-Q3) | |
Number of employees | 300 |
Subsidiaries | Oando Energy Resources Oando Trading |
Website | www.oandoplc.com |
Oando Plc is a Nigerian multinational energy company operating in the upstream, midstream and downstream.[1]
In July 2016, Oando entered into a tri-partite agreement with the Vitol Group, an independent trader of energy commodities and Helios Investment Partner, an Africa-focused private investment firm to form OVH (formerly known as Oando Downstream).[2]
In September 2016, Oando announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP ("Helios"), a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando's midstream business subsidiary, Oando Gas and Power Limited.[3]
Oando is Nigeria's indigenous oil and gas company with a production output of 43,000 barrels (6,800 cubic metres) per day of oil equivalent, enterprise value of N520 billion and market capitalisation value of N115.1 billion.