Oando suspension: We acted on SEC’s directive – Stock exchange
Following the conflicting signal from the Securities and Exchange Commission, SEC, and the Nigerian Stock Exchange, NSE, on the status of trading on the shares of Oando Plc, Wednesday , the Exchange has said that it acted on the directive of the SEC to maintain status quo on the suspension.
Oando reduces debt position by 24% despite low oil price
DESPITE the low crude oil price in the global market, Oando Plc disclosed that it has reduced its debt position by 24 per cent.
Oando reduces debt position by 24% despite low oil price
Despite the low crude oil price in the global market, Oando Plc disclosed that it has reduced its debt position by 24 per cent.
Wale Tinubu still Oando CEO following successful AGM
Oando Plc yesterday successfully held its 40th Annual General Meeting, AGM as shareholders passed vote of confidence on the management team led by Wale Tinubu and retaining the company’s Board of Directors.
SEC intervenes in foreign investors’ dispute over Oando’s AGM
THE Securities and Exchange Commission, SEC, has moved in to douse tension ahead of the 40th Annual General Meeting (AGM) of Oando Plc scheduled for next week Monday in Uyo, Akwa Ibom State. Ansbury, the indirect foreign investors in the major oil company, had sent another petition to the Commission, seeking to suspend the AGM over what they see as failure of corporate governance in the major oil company.
Nigeria to save N37.75bn annually as Oando tackles petroleum discharge bottlenecks
Nigeria is expected to save about $120 million or N37.75 billion (going by the current exchange rate of N314.65 to a dollar) in demurrage annually, following Oando Plc’s construction of first mid-stream jetty in the country.
Oando’s share price drops 10 pct on news of regulatory investigation
Shares in Nigerian oil company Oando fell close to a one-month low on Monday on news that regulators were investigating the firm’s shareholding structure following its $1.65 billion acquisition of ConocoPhillips’ Nigerian business.
2.2m bpd oil output by June- Oando’s CEO
The 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 reduces net debt by 29%, posts N1.7bn PAT
OANDO Plc has reduced its net debt by 29 per cent to N225.9 billion in the first quarter 2017 (Q1’17), ended March 31, from N316.6 billion in the corresponding period of 2016, just as Profit After Tax, PAT dropped by 59 per cent to N 1.7 billion from N 4.1 billion.
Oando secures FG’s approval for 500Mw power plant in Kwale
Oando Plc has said that it has secured federal government’s approval to build a 500Mega Watts, Mw, power plant in Kwale, Delta State that will cater for additional 20 per cent of the nation’s power needs.
Oando reduces net debt by 29%, posts N1.7bn PAT
OANDO Plc has reduced its net debt by 29 per cent to N225.9 billion in the first quarter 2017 (Q1’17), ended March 31, from N316.6 billion in the corresponding period of 2016, just as Profit After Tax, PAT dropped by 59 per cent to N 1.7 billion from N 4.1 billion.
