{"id":1624,"date":"2026-08-05T10:13:04","date_gmt":"2026-08-05T10:13:04","guid":{"rendered":"https:\/\/kufmtv.net\/?p=1624"},"modified":"2026-08-05T10:13:11","modified_gmt":"2026-08-05T10:13:11","slug":"oando-grows-half-year-revenue-to-n2-1trn","status":"publish","type":"post","link":"https:\/\/kufmtv.net\/index.php\/2026\/08\/05\/oando-grows-half-year-revenue-to-n2-1trn\/","title":{"rendered":"OANDO GROWS HALF YEAR REVENUE TO N2.1TRN"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.<\/p>\n\n\n\n

The company disclosed this in its unaudited financial results released on Tuesday in Lagos.<\/p>\n\n\n\n

It also reported an eight per cent increase in profit after tax to N68.6 billion, while gross profit surged by 331 per cent to N101 billion during the review period.<\/p>\n\n\n\n

The company\u2019s average daily production rose by 16 per cent to 42,789 barrels of oil equivalent per day (boepd), from 36,836 boepd recorded in the corresponding period of 2025.<\/p>\n\n\n\n

Production growth comprised a 19 per cent increase in crude oil output to 12,358 barrels per day, a 14 per cent rise in gas production to 28,497 boepd and a 16 per cent increase in natural gas liquids production to 1,935 boepd.<\/p>\n\n\n\n

Oando attributed the improved performance to the successful drilling of new wells, restoration of 12 previously shut-in wells and improved facility uptime across Oil Mining Leases (OMLs) 60 to 63.<\/p>\n\n\n\n

The company said facility uptime improved to 92 per cent in the first half of 2026 from 85 per cent in the corresponding period of 2025.<\/p>\n\n\n\n

It added that production operating costs declined by 18 per cent to 16.83 dollars per barrel of oil equivalent during the review period.<\/p>\n\n\n\n

The Group Chief Executive Officer of Oando Plc, Mr Wale Tinubu, said the company\u2019s performance reflected the successful integration of its expanded upstream portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, 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News<\/a>","rttpg_excerpt":"Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, 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