reading or external links but its sources remain unclear because it lacks inline citations . please help to improve this article by introducing more precise citations . july 2015 learn how and when to remove this template message oando plc type public traded as nse oando jse oao tsx oer industry oil and gas founded 1956 esso headquarters victoria island lagos nigeria . area served west africa key people jubril adewale tinubu gce omamofe boyo dgce products oil petroleum natural gas petrochemical fuel lubricant revenue 449.8 billion 2013 operating income 16.5 billion 2013 total equity 162 billion 2013 number of employees 1 000 website www.oandoplc.com zenon house where oando s corporate headquarters is located oando is nigeria s largest independent conglomerate in the energy industry including petroleum products marketing supply & trading exploration and production and gas distribution and the first nigerian company to achieve a dual listing on both the nigerian and johannesburg stock exchanges . oando is nigeria s largest indigenous oil company with a production output of 54 000 boepd and a market capitalisation of 894 million . through its upstream subsidiary oando energy resources oer oando has a secondary listing on the toronto stock exchange with a market capitalisation approximately 1 billion . contents 1 history 2 overview 3 operating divisions 4 upstream 5 midstream 6 downstream 7 corporate affairs 8 board of directors 9 strategic assets 10 references 11 external links history edit oando s earliest roots can be traced to the formation of esso africa in 1956 . esso africa was a petroleum marketing company a subsidiary of the exxon corporation of u.s.a. in 1976 the nigerian government purchased a controlling stake in the company and rebranded the company as unipetrol nigeria . on 1 march 1991 unipetrol became a public limited company . later on in the same year the nigerian government sold 60 % equity to the nigerian public in an initial public offering . by february 1992 unipetrol was listed on the nigerian stock exchange . in 1999 unipetrol acquired a 40 % stake in gaslink nigeria limited a gas utility company . the acquisition was motivated by a desire to utilize its exclusive gas sale and purchase agreement with the nigerian gas company . in 2001 the company increased its stake to 51 per cent . so far gaslink has developed 250 km of gas pipeline infrastructure . in 2000 ocean and oil a private investment company led by nigerian entrepreneurs adewale tinubu and omamofe boyo acquired a 30 % controlling interest in unipetrol plc. in 2001 ocean and oil increased its stake in unipetrol to 42 % via an irredeemable convertible loan stock issue . in 2002 ocean and oil led unipetrol s bid for a 60 % stake of agip nigeria plc a rival petroleum marketing firm owned by agip petroli bv an italian based oil company . the merged company was named oando plc in 2003 making the company the largest downstream petroleum marketing company in nigeria . in 2005 oando energy services was incorporated as an integrated oilfield services company to achieve the group s objectives in the upstream services industry . in 2007 oando energy services acquired two oil drilling rigs in nigeria s niger delta . in 2008 the company emerged nigeria s first indigenous oil company with interests in producing deep water assets through the acquisition of equity in two oil blocks . by 2009 the company had acquired 5 swamp rigs and in 2010 the company launched its first independent power plant for the lagos water corporation . the project involved the construction of a 12.5 mw power plant to provide uninterrupted power supply to the lagos water corporation . in 2011 oando gas and power commissioned 128 km ehgc pipeline the pipeline was built under a joint venture arrangement with the nigerian gas company ngc a subsidiary of the nigerian national petroleum corporation nnpc . the gas infrastructure has the capacity to deliver up to 100million standard cubic feet per day mmscf d of natural gas and will deliver an initial 22mmscf d of gas to its maiden customer united cement company unicem to fuel its new 2.5 million metric tonnes per annum cement plant located in mfamosing akampka local government area of cross river state . in 2012 oando exploration and production limited oepl signed a farm in agreement with network exploration & production nigeria limited nepn for the acquisition of 40 % participating interest in the qua iboe field oml 13 subject to the consent of the honourable minister of petroleum . in 2013 oando plc succeeded in raising over n55 .2 billion from the capital markets as its rights issue recorded 101 per cent subscription . the company issued 4.548 billion shares to existing shareholders at n12 per share between december 2012 and february 2013 with the intention of raising n54 .6 billion . oando gas and power commissioned 10.4 mw alausa independent power plant to provide electricity to the lagos state secretariat complex . following the decommissioning of oes professionalism in 2013 oes currently has a fleet of 4 rigs ; oes teamwork oes respect oes integrity and oes passion . in 2014 oando divested the 128km eastern horizon gas company ehgc franchise in a 250 million transaction with seven energy . in 2014 oando energy resources oer listed on the tsx an affiliate company of oando plc entered into agreements with conocophillips cop to acquire its entire business interests in nigeria for a total cash consideration of 1.5 billion in june 2015 oando entered into an agreement with hv investments ii b.v. hvi a joint venture owned by a fund advised by helios investment partners helios and the vitol group vitol for a cash investment of us 276.8 million in oando s downstream business . overview edit from its beginnings as a fuels marketer the company has grown to become a sub saharan integrated energy company . oando currently operates a group structure consisting of six subsidiaries across the energy value chain . the company plans to become africa s energy major . oando employs close to 1 000 personnel in various west african countries . oando marketing limited the company s downstream subsidiary owns nigeria s largest petroleum retail network with over 600 petrol stations . oando supply & trading another subsidiary of the company is nigeria s largest independent importer of pms . the company imported up to 4 million metric tons of white products into nigeria between 2007 and 2009 . in the upstream sector oando exploration & production oepl is the operator of two oil blocks in nigeria s niger delta region opl 278 and opl 236 . the company is also a nigerian content partner with agip oil on opl 282 and has a 45 % interest in a marginal field oml 56 . operating divisions edit oando plc is organized functionally into a number of operating divisions . these divisions are grouped into three categories upstream midstream downstream upstream edit oando energy resources oer the leading indigenous exploration and production company in nigeria . oando energy services oes nigeria s largest indigenous rig services provider . midstream edit oando gas & power og & p building sub saharan africa s largest gas pipeline grid . developing independent power plants in nigeria akute power limited alausa power limited gaslink nigeria limited gas network services limited downstream edit oando marketing plc omp nigeria s leading oil retailer oando supply and trading ost africa s largest independent and privately owned oil trading company . oando terminaling and logistics otl propelling development of infrastructure to drive efficiency across the downstream . corporate affairs edit the current chairman of the board is hrm oba m. a. gbadebo and the group chief executive is adewale tinubu . the deputy group chief executive mr. omamofe boyo . oando employs a work force of over 1 000 people . board of directors edit as of october 2013 hrm oba m. a. gbadebo chairman jubril adewale tinubu group chief executive omamofe boyo deputy group chief executive bolaji osunsanya group executive director femi adeyemo group executive director ms ammuna lawan ali oon independent non executive director mr. francesco cuzzocrea independent non executive director chief sena anthony independent non executive director mr. oghogho akpata independent non executive director engr . yusuf n jie independent non executive director tanimu yakubu independent non executive director ayotola jagun group company secretary & chief compliance officer strategic assets edit over 460 retail outlets in west africa 7 petroleum storage depots 3 aviation fuel depots 2 bitumen plants 2 lubricant blending plants 8 lpg filling plants 1 grease plant 1 aerosol filling plant 100 km gas pipeline in lagos and 128 km ongoing in south eastern nigeria 4 swamp drilling rigs 16 licences for exploration development and production of oil and gas concessions in oer . references edit http www.proshareng.com news 11819 http allafrica.com stories 201006281637.html http edition.cnn.com 2010 business 11 30 wale.tinubu.oando.nigeria hpt c2 http www.groundreport.com business africas oando raising n21 billion naira from capit 4 2916523 external links edit official website retrieved from https en.wikipedia.org w index.php title oando & oldid 738660657 categories oil and gas companies of nigeriacompanies based in lagoscompanies listed on the johannesburg stock exchangehidden categories articles lacking in text citations from july 2015all articles lacking in text citationspages using infobox company with unsupported parametersofficial website different in wikidata and wikipedia navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links 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