Oando

Oando reports rising revenues, according to Group Chief Executive Wale Tinubu, as the Iran war undermines confidence in the Gulf region as a production area and boosts demand for Nigerian oil from Europe and Asia. Tinubu expects oil prices to remain at $70–80 even after hostilities end, since affected producers will need time to rebuild. Oando produced an average of 32,500 barrels per day in 2025 and plans seven new wells by the end of the year to increase output by about 10,000 barrels per day. To finance growth and acquisitions, the company is targeting up to $750 million by the end of 2026 through debt and equity and is expanding international activities, most recently with a lease agreement in Angola and interest in assets in West America and Guyana/Suriname. » More on de.investing.com