Latest news on oando plc

Oando Plc is a Nigerian multinational oil and gas company. Here are some of the latest news and updates on the company:

Recent News:

  1. Oando Plc Appoints New CEO: On February 24, 2023, Oando Plc announced the appointment of Ademola Gbolahan Tinubu as its new Chief Executive Officer (CEO). Tinubu takes over from Wale Tinubu, who has been the CEO since 2003.
  2. Oando Plc Reports Q4 2022 Results: On February 16, 2023, Oando Plc released its Q4 2022 financial results, which showed a net loss of N14.4 billion (approximately $33.5 million) compared to a net loss of N24.4 billion in the same period in 2021.
  3. Oando Plc Sells 20% Stake in Oando Trading & Supply: On January 26, 2023, Oando Plc announced the sale of a 20% stake in its subsidiary, Oando Trading & Supply, to a consortium of investors for an undisclosed sum.
  4. Oando Plc Appoints New Non-Executive Directors: On January 18, 2023, Oando Plc announced the appointment of two new non-executive directors, Mrs. Nneka Onyeali-Ikpe and Mr. Aigboje Aig-Imoukhuede, to its board of directors.

Recent Developments:

  1. Oando Plc's Refining and Petrochemicals Business: Oando Plc has been working to revamp its refining and petrochemicals business, which has been facing challenges in recent years. The company has announced plans to invest in the upgrade of its refineries and the development of new petrochemical projects.
  2. Oando Plc's Exploration and Production Business: Oando Plc has been active in the exploration and production of oil and gas in Nigeria and other countries. The company has announced several discoveries and plans to increase its production capacity in the coming years.
  3. Oando Plc's Financial Performance: Oando Plc has been facing financial challenges in recent years, including a significant decline in its revenue and profitability. The company has been working to improve its financial performance through cost-cutting measures and the sale of non-core assets.

Market Performance:

  1. Oando Plc's Stock Price: Oando Plc's stock price has been volatile in recent years, reflecting the company's financial challenges and the broader market trends. The company's stock price has declined by around 50% over the past year.
  2. Oando Plc's Market Capitalization: Oando Plc's market capitalization is currently around N150 billion (approximately $350 million), making it one of the smaller companies listed on the Nigerian Stock Exchange.

Please note that the information provided is subject to change and may not be up-to-date. It is always a good idea to check with reputable sources for the latest information on Oando Plc and other companies.