Oando
| Company type | Public |
|---|---|
| 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.
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).
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.
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.
In 2024, Oando won the ‘Deal of the Year’ award at Africa Energy Week (AEW) 2024.This is because of the Company’s $783 million acquisition of the Nigerian Agip Oil Company (NAOC), owned by Eni, in August 22, 2024.