Oando PLC is a Nigerian energy group with head office at The Wings Office Complex on Victoria Island, Lagos. It is listed on the Nigerian Exchange and the Johannesburg Stock Exchange, and operates through Oando Energy Resources, Oando Trading and Oando Clean Energy across upstream exploration and production, commodity trading and renewable energy initiatives.
Portfolio and operating scale
The investor relations site summarises the group's position as 1.1 billion barrels of oil equivalent in 2P reserves and 2C resources, six producing blocks and 2,000 million standard cubic feet per day of gross gas processing capacity, alongside a history the company puts at 69 years. Beyond Lagos, Oando lists offices in Abuja, Port Harcourt, Dubai at One JLT and London at 17 Old Park Lane. The group's operations are concentrated in onshore and offshore Nigerian acreage, with OMLs 60 to 63 forming the core of the operated development programme.
Full-year 2025 results
Audited results for the year ended 31 December 2025, released on 3 July 2026, reported average production of 32,482 barrels of oil equivalent per day, up 32% year on year, and 2P reserves of 928 million barrels of oil equivalent against 950 million a year earlier. Trading volumes reached 25.7 million barrels, up 24%. Revenue was N3.2 trillion compared with N4.1 trillion in 2024, a decline the company attributes to trading optimisation and the exit from lower-margin petrol importation. Profit after tax was N204.8 billion, cash generated from operations N258.3 billion and cash and cash equivalents N422.9 billion, with capital expenditure of N135.0 billion.
Operations, safety and development
- Oando reported zero fatalities and zero lost-time injuries for 2025, with a total recordable incident rate of 0.05.
- The Obiafu-44 gas-condensate well was completed and started up, described as the group's first operated development well after it assumed operatorship of the enlarged asset base.
- The reserve-based lending facility known as RBL2 was expanded to USD 375 million, led by AfreximBank.
- Production guidance for the following year is 40,000 to 50,000 barrels of oil equivalent per day, split between 12,000 to 15,000 barrels of oil per day and 160 to 200 million standard cubic feet per day of gas.
- Seven wells are planned in OMLs 60 to 63, with capital expenditure of roughly USD 90 million to USD 100 million and crude trading volumes of 30 to 35 million barrels.
Trading, clean energy and 2026 trading update
Oando Trading handles crude, gas and product offtake, and the group says it has deliberately repositioned away from lower-margin gasoline importation towards crude and gas opportunities supported by structured offtake and financing arrangements. Oando Clean Energy published a report mapping commercially viable wind locations across all 36 Nigerian states and is expanding an electric bus fleet, with 11 additional buses planned. On 4 August 2026 the group reported unaudited half-year 2026 results showing a 20% increase in revenue to N2.1 trillion.
Governance and contact
Wale Tinubu is Group Chief Executive and Adeola Ogunsemi is Chief Financial Officer. General enquiries are published as [email protected] on the group's contact page; the Dubai office of Oando Trading lists [email protected]. Oando also operates the Oando Foundation and a vendor registration portal for suppliers.