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AFRICANGLOBE - Lawyer-turn-businessman, Wale Tinubu has grown into one of the revered faces in Africa’s oil industry. From its beginnings as a fuels marketer to becoming Nigeria’s largest non-government owned company in the energy industry, Oando is one of the many success stories coming out of Africa’s corporate space.
AFRICANGLOBE - Successive Nigerian governments have promoted indigenous oil companies with legislative and institutional tools, and they are now flourishing: Amni, Shoreline, Midwestern, Seplat, Dubri and Continental, all based in the Niger Delta region.
AFRICANGLOBE - Nigeria’s leading indigenous energy group, Oando PLC, has announced its affiliate Oando Energy Resources (OER), which is listed on the Toronto bourse (TSX), has entered into agreements with ConocoPhillips (COP) to acquire its entire business interests in Nigeria for an estimated cash of $1.79 billion including customary adjustments.