Oando PLC
32.00
ZAC
0.00
(0.00%)
Oando PLC
JSE:OAO
(Johannesburg Stock Exchange)
Recent
price
32.00
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div
yld
- -
ROIC.AI
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- Business
- Oando PLC is a multinational integrated energy solutions provider operating across upstream, midstream, downstream, and renewable energy sectors. The company engages in the exploration, development, and production of oil and gas assets; supply and wholesale trading of crude oil, refined petroleum products, and petrochemicals; development and operation of energy infrastructure; generation of electric power; implementation of renewable energy and clean mobility solutions; and exploration of solid mineral resources. Its product portfolio comprises crude oil; natural gas and liquefied petroleum gas; natural gas liquids; refined petroleum products, including premium motor spirit, automotive gas oil, and dual-purpose kerosene; aviation turbine kerosene; industrial and automotive lubricants; and electrical power. The company's service offerings include upstream field development, offshore and onshore production management, and reservoir engineering; maritime chartering, logistics, and bulk petroleum transportation; midstream terminal storage, crude handling, and pipeline distribution; electric bus fleet deployment and charging infrastructure management; and commercial mining operations. Oando serves international energy markets, national oil corporations, independent power producers, industrial manufacturers, transport authorities, and commercial fuel distributors across Nigeria, the Joint Development Zone of Nigeria and São Tomé and Príncipe, greater West Africa, and international commodity trading hubs. In August 2024, Oando finalized the 783 million dollar acquisition of 100 percent of Nigerian Agip Oil Company from Eni, doubling its upstream reserves, increasing participating interests in Oil Mining Leases 60, 61, 62, and 63 from 20 percent to 40 percent, and adding 40 discovered oil and gas fields, 1,490 kilometers of pipeline networks, three gas processing plants, the Kwale-Okpai power plants with 960 megawatts capacity, and the Brass River Oil Terminal. Concurrently, the company expanded its strategic scope through its subsidiary Oando Clean Energy Limited, deploying electric mass transit buses in Lagos, advancing utility-scale solar and bio-energy projects, and securing solid mineral mining concessions to accelerate long-term energy transition and diversification. Founded in 1956 and originally operating as Esso West Africa before restructuring and rebranding in 2003, Oando PLC is headquartered in Lagos, Nigeria, with dual listings on the Nigerian Exchange and the Johannesburg Stock Exchange.