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Oando Plc records strong performance in YTD September 2018 report

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Oando Plc records strong performance in YTD September 2018 financial report

Oando Plc records strong performance in YTD September 2018 financial report

Oando Plc records strong performance in YTD September 2018 report

Oando Plc, Nigeria’s leading indigenous energy solutions provider, has announced unaudited results for the nine months period ended September 30, 2018. Oando is listed on both the Nigerian and Johannesburg Stock Exchange.

Commenting on the results Wale Tinubu, Group Chief Executive, Oando Plc said:

“Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices. The outlook for the remainder of the year is positive, and we remain committed to delivering on our value-based strategy towards improving our liquidity by reducing our gearing, improving our profitability by increasing production, and achieving growth via strategic alliances.”

Results Highlights

Strong top and bottom line performance

  • Turnover increased by 32%, N505.1 billion compared to N383.5 billion (YTD September 2017), driven by higher commodity prices.
  • Profit-After-Tax increased by 46%, N10.4 billion compared to N7.1 billion (YTD September 2017).

Optimized balance sheet

 

  • Total Group Borrowings decreased by 4%, N227.2 billion compared to N237.4 billion (FYE 2017).

Operational efficiency combined with a favourable environment

  • Brent prices averaged $72.25 per barrel, resulting in a 45% increase in realised crude selling price compared to the same period in 2017. The performance was further buoyed by sale price increases of 6% for NGL and 31% for our natural gas deliveries.
  • Overall working interest production in the period increased to 40,039 boe/day, compared with 39,844 boe/day in the same period in 2017.
  • Over 10 million barrels of Crude Oil traded and 445,483 MT of refined petroleum products delivered, compared to over 11 million barrels of crude oil traded and 795,381 MT of refined products delivered in the same period of 2017.

Finance Review

Revenue

Revenue for the period was N505.1 billion, an increase of 32% compared to the same period in 2017 (N383.5 billion). This was primarily driven by an increase in commodity prices. In the nine months to September 30, 2018, gross sales price for oil increased by 45% to $71.42/ bbl from $49.42/ bbl in the same period in 2017. Sale price for natural gas and NGL also increased by 31% and 6% respectively.

Gross Profit

Gross Profit for the first nine months was N77.6 billion, an increase of 9% compared to the same period in 2017 (N71.2 billion). The increase is primarily driven by higher revenue as a result of higher commodity prices.

Profit-After-Tax

Profit-After-Tax for the period was N10.4 billion, an increase of 46% compared to the same period in 2017 (N7.1 billion).

Outlook

Brent continues to trade at over $75 per barrel at the start of the fourth quarter, supported by inventory reductions and geopolitical tensions. Oando’s upstream business is well positioned to take advantage through production growth via investment in targeted profitable projects, whilst maintaining fiscal prudence.

The Trading business of Oando continues to focus on developing key supply mechanisms in order to facilitate its expansion of trading structures across the face of Africa as well as solidifying its position in Nigeria.

Oando Plc as a whole continues to implement programs to improve operational efficiency and maintain capital discipline to assure profitability regardless of the market context.

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ECONOMY

How to Achieve Safety at Workplace (Case study – Nestoil)

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As the energy industry continues to grow and people utilise more cutting-edge technologies in terrains previously unexplored, the need for ensuring workplace safety has even become greater. Establishing a reliable system of managing cases of onshore or offshore hazards to minimise lost-time injury (LTI) is essential to the success of any company, particularly in the energy industry.

At Nestoil, workplace safety is not just a word thrown around lightly; it is a truth embedded in their values. This ethos ensures that the safety and wellbeing of our most valuable assets – Nestoil employees – is guaranteed. Beyond protecting the company’s personnel, having a dependable health, safety and environment (HSE) policy means protection for customers, suppliers, and the public from potential health risks and other dangers.

Nestoil commitment to delivering reliable energy is built on a zero-tolerance for HSE violations, ensuring that risks are mitigated in all operations, especially those in danger-prone sites,

Safety policies cut across all Nestoil sister companies – IMPAC Engineering, B&Q Dredging, Energy Works Technology (EWT) and Hammakopp Consortium. The Nestoil Group has also implemented the ISO 45001:2018 Occupational Health Management in line with other Management System (QMS ISO 9001:2015 and EMS ISO 14001:2015) for synergy, structured organisational strategy and occupational health and safety within the company. This strategy makes reporting and collation of HSE performance statistics on every project efficient and scalable.

Read More : Achieving Workplace Safety Means Having a People-first Policy

 

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ECONOMY

Generator Buying Guide

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Are you to purchase an electric power generator?are you pondering on which brand of generator to purchase? Would you like to realize what specificatioon to think about when purchasing convenient electric power generators for your home, little, average sized, and huge business? On the off chance that your response to any of the above inquiries is indeed, at that point welcome, you are at the correct site. Concentrate will be on versatile power generators utilized in homes and private companies just as mechanical evaluation generators.

Generator Size

Before you purchase a generator, you should know how much power you need so as to helpfully run your home or office apparatuses. You can discover how much power you need by taking note of the significant machines you use. For example, do you have to control a siphoning machine, printer, cooling units, iron, cooker? The more apparatuses required, the greater the power-producing set you’ll require.

 

Fuel Type

The most widely recognized fuel types for emergency backup frameworks are gaseous petrol, propane, and diesel. While gas may appear to be helpful, it’s regularly seen as a poor fuel decision for backup frameworks because of its generally short existence of steadiness. Cost can be a factor when picking between a diesel or flammable gas generator (or propane) since the cost distinction can fluctuate contingent upon the size of the generator. The accessibility of the fuel source is another significant factor. Diesel and propane give an ‘on location’ fuel source however may require a re-fill during an all-inclusive power blackout, where petroleum gas is pulled from the neighborhood utility. Nearby code prerequisites may direct which fuel types are accessible to your territory; for instance propane may not be an alternative inside city restricts in certain areas. Likewise, the sort of office can now and again direct if an on location fuel source is required.

 

Equipment Installation:

The general answer is an authorized circuit repairman and may likewise require an authorized handyman, however the decision is regularly up to the purchaser. The key is to pick a respectable organization with a past filled with introducing reserve generator frameworks. A few purchasers may have an organization at the top of the priority list when choosing to buy a generator while others may profit by a referral.

 

Purchase Channel (broker vs. dealer/distributor)

While anybody on the road can put a generator available to be purchased in the classifieds, on eBay, etc, that is unmistakably not a perfect circumstance for a purchaser. Modern diesel generators are unpredictable, finely tuned bits of apparatus that unmistakably should be appropriately kept up and tried by affirmed professionals with the goal for them to work at ideal effectiveness and be there when you need them most. They aren’t called crisis backup generators to no end! Also, since most generators accompany a significant sticker price, even more motivation to ensure you have experts and an association you can trust. You can check here to purchase quality generators

 

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ENERGY

Top Generators to Buy in Nigeria (Gasoline/Petrol Generators)

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These are the most prevalent sorts of generators. Fuel for this sort of generators is promptly accessible.

 

They produce increasingly hurtful emanations. Go for these in case you’re OK with commotion. On the in addition to side however – they’re more affordable and spending plan benevolent. They’re additionally compact and fit for those with exceptionally low power needs.

 

Tiger Manual Gasoline Generator

The Tiger Manual Gasoline Generator is one of the most prominent generators in Nigeria since it fits the power needs and spending plans of generally homes. It is generally modest and can control the fundamentals – fan, DVD player, PC, TV, decoder and comparative contraptions. It isn’t perfect for use with your iron or icebox.

 

Prons

 

  • It’s Portable

 

  • Perfect for little homes

 

Cons

 

  • Makes a ton of commotion following a couple of years
  • Not perfect for overwhelming machines like the iron
  • Overwhelming discharge of vapor

 

Mantrac

Mantrac Generators are powered by CAT engines, which carry the same technology, performance, and legendary durability of all Caterpillar machines.

 

Pros

 

  • High Performance with Lower Fuel Consumption
  • Reliable, High and Low, Heat and Cold
  • Cheap Maintenance
  • Boost Efficiency and Boost Productivity with Integrated Cat Connect

 

Cons

 

  • It massive and occupies room
  • It requires visit upkeep from prepared professionals

See Price Here : Mantrac generators

 

Lutian 8.1KVA Diesel Generator with Remote Control

This generator is best for you in the event that you have a powerful necessity. It gives a normal power supply yield of 8.1KVA. It accompanies a low oil ready framework and makes next to no clamor.

 

Pros

 

  • Low oil ready framework
  • Perfect for those with high control utilization

 

Cons

 

  • It’s costly
  • Requires huge space
  • Requires normal upkeep

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