The landmark acquisition marks the culmination of a ten-month process following the initial agreement between Oando and Eni in September 2023.
Wale Tinubu
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- Hot News
Nigerian oil magnate Wale Tinubu’s Oando announces participation in $3.3-billion facility
Tinubu emphasizes ability to create value as an indigenous partner of choice in Project Gazelle as another win for Oando and Nigeria.
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Oando’s return to JSE is seen as a positive boost for investor confidence and market position under Wale Tinubu’s leadership.
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Oando’s average production for 2023 was 20,837 barrels per day, slightly up from 20,703 barrels per day in 2022.
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This projection comes with the expectation of further scaling up to 100,000 barrels daily by 2029 through new drilling and security improvements.
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Nigerian tycoon Wale Tinubu promotes resilient oil and gas value chain at Guyana Energy Conference
At the Guyana Energy Conference, Tinubu emphasized the imperative of fostering conducive environments for the oil and gas industry’s growth.
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The contract, part of the Direct Sale and Direct Purchase (DSDP) initiative, was awarded to six oil companies.
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Nigerian mogul Wale Tinubu’s Oando secures $800-million deal for strategic oil assets acquisition
This strategic move is set to play a pivotal role in the acquisition of a 20-percent participating interest in the Nigerian Agip …
- West & Central Africa
Wale Tinubu’s Oando partners with U.S. firm to boost renewable power in Nigeria
Wale Tinubu, a top figure in the Nigerian energy sector, owns an indirect stake in Oando Plc through his 66.67 percent stake …
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Tinubu’s stake in Oando is held indirectly through his ownership of 66.67 percent of Ocean and Oil Development Partners (OODP).