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₦2.6b

returned to shareholders on dividend in 2013

Sustainable Benefits

As a business we work hard to remain profitable. This will make it posible for us to create benefits for the society and to take good care of the environment. Even the areas of our business that do not neccessarily affect our ability to earn good returns are important to the way we access our sustainability.

₦51b

Economic value distribution

Creating Value

It is essential that we create value for our various stakeholders and in particular for investors who are entitled to a good return on their investment. We also balance the competing priorities of other key stakeholders to ensure that all interests are catered for.

1,000+

personel employed by Oando

A focus on business growth

Since Ocean and Oil's acquisition of controlling interest in Unipetrol Plc in 2000 and the subsequent merger with Agip Nigeria Plc in 2003, Oando has steadily grown to become one of Africa's largest integrated energy solutions providers with the addition of gas and power distribution.

The Energy Quadrant Project (EQ Project)

With this project, we are taking the lead to reduce and eventually stop the use of diesel and petrol generators in our company. This will help the company to save over ₦100million every year. It is part of our long term plan to put an end to gas flaring.

Piping of natural gas

Don’t Flare it. USE IT! As part of the EQ Project we are promoting the increased domestic and industrial use of gas as a source of cleaner and renewable energy. This will help us to be more efficient and eco-friendly.

Apapa Single Mooring Point (ASPM)

Because of the increasing number of Petroleum Tank depots in Apapa, we started the construction of the Apapa Single Mooring Point (ASPM) jetty. This will help to reduce the problem of overcrowding at the existing Major Oil Marketers Association of Nigeria (MOMAN) Jetty and dangers to the environment.

Operational Efficiency

Our three operating rigs each recorded operational efficiency of over 90% within the reporting period and we are delivering the products that our customers need.

  • Building
    Partnerships

    Building partnerships

    In line with our long term strategic objectives, we work with the government and other industry participants to develop appropriate laws that regulate, protect and promote the growth of the oil and gas industry.

  • Partnerships for
    Sustainability

    Partnerships for sustainability

    A key ingredient to the achievement of sustainability in modern times is through effective partnerships. Individuals, companies and governments can no longer work in isolation towards achieving long term goals as we are interconnected and our actions have an impact on each other.

In today's society, true success can only be achieved through collaboratively working in, our areas of shared interests and mutual benefit. At Oando, we pursue partnerships that provide us with access to new markets, superior returns and innovative technology. We alo seek partnerships that address industry wide issues concerns and impacts the energy sector.

We aim to further develop strong relationships with communities, governments, our business peers and other stakeholders so that we can understand our respective needs better and identify, develop and deploy mutually beneficial solutions. We also have a leadership role to play in promoting positive developments within the industry.

  • ₦130M

    Provided by Oando Foundation in 2013
    Through Donations and Sponsorship

    Donations

    We work to support the Nigerian government’s goal of ensuring that all children have access to free, compulsory, good quality primary education in line with the second goal of the eight United Nations Millennium Development Goals (MDGs).

  • Access to
    technology

    Access to technology

    Technology can improve performance and efficiency, minimize the environmental impact of our activities, and provide new business opportunities. Therefore we continuously seek to research and invest in technology that is easily available and affordable which will create tangible benefits to all our stakeholders.

Technological advancement is crucial to the development of the oil and gas industry as it is to most industries seeking to find new, innovative and more efficient methods of utilising their resources. Investing in technology will lead to the development of safer and more efficient extraction of petroleum, natural gas and other natural resources, reaching areas that previously were unreachable, providing costs savings and reducing waste.

We want to use technology to create tangible value for our stakeholders. We have already started utilizing available technology to improve our efficiency within our business, from the use of instagram to determine staff attendance at our petrol stations to the development of projects such as the Compressed Natural Gas project developing a natural gas compression facility. However we need to partner with universities, research bodies, technology suppliers and other stakeholders to explore technology options specific to the oil and gas industry.