Oando Production Hits 42,985 Barrels Of Oil Equivalent A Day As Revenue Grows 9% In 9 Months Of 2026
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Oando Plc, has published its unaudited results for the nine months ended 30 September 2026. The Group recorded a 9 per cent increase in revenue to ₦2.78 trillion, reflecting higher crude oil liftings, increased gas and Natural Gas Liquids (NGL) sale volumes, and improved average realised prices. Operating performance also strengthened, with the Group moving from an operating loss of ₦109.7 billion in 9M 2025 to an operating profit of ₦159.7 billion in 9M 2026.Gross profit increased by 483 pe4 cent to ₦174.5 billion, compared with ₦29.8 billion in the corresponding period of 2025, reflecting improved production efficiency with a reported facility uptime of 96.1 per cent compared to 85 per cent.Commenting on the results, Wale Tinubu CON, Group Chief Executive of Oando PLC, said: “Our perform...