Connect with us
Anglostratits

Business

Oando’s Production up 16% in H1 2026, Company Reports Facility Uptime of 92%

Published

on

Oando PLC

The Company attributed this increase to its crude oil marketing and offtake programmes and increased sourcing from marginal field producers and remains focused on expanding its broader crude oil marketing and trading portfolio in the other half of the year

LAGOS, Nigeria, August 4, 2026/APO Group/ –Oando PLC (https://OandoPLC.com/), Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Ltd. and Johannesburg Stock Exchange, has published its unaudited results for the six months ended 30 June 2026. The Group posted a 20% revenue increase to ₦2.1 trillion, reflecting the results of the Company’s cost-optimisation initiatives, principally lower transport, logistics, service and ICT costs, alongside the benefit of higher production across a largely fixed field cost base. This stronger earnings performance is also reflected in the Company’s profit after tax, which rose 8% to ₦68.6 billion and gross profit, which rose 331% to ₦101 billion.

Oando’s upstream subsidiary reported a 92% facility uptime compared to 85% in 2025, resulting in a 16% increase in average production to 42,789 boepd from 36,836 boepd in H1 2025. This production number comprises crude oil production up by 19% to 12,358 bopd, gas volumes up 14% to 28,497 boepd, and NGL production up 16% to 1,935 boepd. The Company states these results were underpinned by a combination of factors: the successful drilling of new wells, the restoration of 12 previously shut-in wells, and sustained improvements in facility uptime across OMLs 60-63.

In its trading arm, the Group saw a 2.1% increase in trading volumes to 13.15 MMbbl. The Company attributed this increase to its crude oil marketing and offtake programmes and increased sourcing from marginal field producers and remains focused on expanding its broader crude oil marketing and trading portfolio in the other half of the year.

 

Group Chief Executive, Wale Tinubu CON, speaking on the half-year 2026 results, commented “The first half of 2026 marks an important inflection point in Oando’s journey. Over the past two years, our priority has been to successfully integrate one of the most significant upstream acquisitions in Africa and unlock the full value of our expanded portfolio. The progress achieved during the period demonstrates that we are now delivering the operational and financial outcomes expected from that transformation.

 

Operational efficiency underpinned our performance during the period as we strengthened asset integrity, improved facility reliability and reinforced security across our operating areas, resulting in average facility uptime of 92% while reducing production operating costs by 18% to US$16.83 per boe.”

 

“Our development programme also gathered significant momentum during the period as we successfully drilled and completed two land development wells, with an additional land well currently being drilled, while mobilising a second drilling rig to accelerate activity across our operated portfolio. In parallel, we continued an extensive programme of rig-less well interventions designed to restore production, sustain plateau output and mitigate natural field decline. Together, these activities increased average production to 42,789 boepd, representing 16% year-on-year growth.

 

Our focus is now on translating our significant opportunities into higher production, a stronger balance sheet and superior long-term returns for our shareholders

This translated into a stronger financial performance, with revenue increasing by 20% to ₦2.1 trillion, while the business generated ₦179.5 billion in operating cash, improving liquidity. Profit after tax also increased by 8% to ₦68.6 billion, reflecting the overall improvement in operating performance during the period.” He added.

 

Similarly, another independent, Seplat Energy Plc, also reported a 4% increase in average production in H1 2026 to 139,509 boepd, while Aradel Holdings Plc reported a 523% increase to 139.5 kboepd.

 

In 2026, Oando embarked on an extensive drilling programme across both the operated and non-operated portfolio. With this already yielding results in H1 within OMLs 60–63, the Company hopes to complete its seven-well programme with planned drilling across its assets in Idu T, Samabri A and Ogbanbiri. This is to be complemented by a rig-less programme of approximately 100 well intervention activities planned across the portfolio for the full year. Together, these activities are expected to add production, sustain plateau and offset natural field decline across the portfolio.

 

Addressing the Company’s outlook, Mr Tinubu stated, “Looking ahead in 2026, our priorities remain firmly centred on completing our seven-well drilling programme and portfolio-wide well intervention campaign while delivering production of circa 50,000 boepd. Beyond 2026, our identified inventory of 62 development wells, supported by 55 planned well interventions, provides a clear pathway towards our medium-term production ambition of approximately 100,000 boepd.

 

Furthermore, we shall execute an intensive fundraising and balance sheet restructuring programme to optimise our capital structure, strengthen our financial position, improve working capital, enhance financial flexibility and ensure the business is appropriately funded to accelerate growth and maximise long-term shareholder value

 

We have built a resilient operating platform and established a clear roadmap for growth. Our focus is now on translating our significant opportunities into higher production, a stronger balance sheet and superior long-term returns for our shareholders.”

 

The Company reaffirms full-year production guidance of 40,000–50,000 boepd, supported by a seven-well drilling programme across OMLs 60–63, of which two wells have been completed, with two more in progress. The trading arm has revised its guidance to 22–26 MMbbls following adjustments to a crude oil marketing programme. The Company also continues to advance the Rights Issue and its US$1.5 billion multi-instrument issuance programme and the expansion of its clean energy initiatives.

Distributed by APO Group on behalf of Oando PLC.

 

Energy

Kosmos Energy Chief Executive Officer (CEO) Andrew Inglis to Receive Mohammed S. Barkindo Lifetime Achievement Award at African Energy Week (AEW) 2026

Published

on

African Energy Chamber

Inglis is recognized for more than four decades of industry leadership, spanning major African oil and gas developments, entrepreneurship, workforce development and community investment

JOHANNESBURG, South Africa, October 5, 2026/APO Group/ –Andrew Inglis, Chairman and CEO of international energy company Kosmos Energy, has been selected as the winner of the African Energy Week (AEW) 2026’s Mohammed S. Barkindo Lifetime Achievement Award for his dedication to advancing African energy projects and ongoing commitment to strengthening community development continent-wide. The award recognizes a career spanning more than four decades and an enduring contribution to the development of Africa’s energy industry.

 




  

Inglis joined Kosmos as Chairman and CEO in 2014 following 30 years at bp, where he rose to become CEO of Exploration and Production. Since then, he has overseen Kosmos’ growth across some of West Africa’s most important offshore basins, helping translate major discoveries into producing assets while supporting investment in local businesses, professionals and communities.

Andrew Inglis represents the kind of leadership Africa needs – leadership that finds resources

Central to this legacy is the Greater Tortue Ahmeyim (GTA) LNG development, situated on the maritime border of Mauritania and Senegal. Kosmos discovered the Tortue field in 2015, opening a major new gas province that ultimately underpinned GTA. First LNG production was achieved in 2025 and the project continues to move into ramp-up and optimization in 2026. Additional liquefaction capacity is expected to come onstream in phases, with a portion of gas allocated for the domestic markets in Mauritania and Senegal. In Q2, 2026, gross production averaged approximately 2.65 million tons per annum and nine LNG cargoes were lifted during the period.

In Ghana, Kosmos continues to invest in the Jubilee and TEN fields. A multi-well drilling campaign in 2026 has driven Jubilee production higher, with new wells supporting gross output above 85,000 barrels per day by the end of the second quarter and further development planned. Earlier this year, Ghana ratified extensions to the Jubilee and TEN licenses through 2040, providing the foundation for additional investment and drilling. Kosmos Energy has also played a central role in strengthening Equatorial Guinea’s production landscape. Inglis oversaw Kosmos’ expansion in the country, where the company invested in the Ceiba Field and Okume Complex from 2017 until completing the sale of its producing interests to Panoro Energy in June 2026.

Yet Inglis’ impact goes far beyond project development. Under his leadership, Kosmos has advanced its local content strategy, centered on capacity building, education and entrepreneurial support as well as social development. The Kosmos Innovation Center (KIC) has supported entrepreneurship in Ghana, Mauritania, Senegal and Ivory Coast. Since inception, KIC programs have trained more than 5,600 people, supported 185 businesses, helped launch more than 220 startups and contributed to more than 700 direct jobs. In Equatorial Guinea, Kosmos supported education, healthcare and community initiatives, including the PRODEGE education program, which trained two-thirds of the country’s primary-school teachers during its first five years.

“Andrew Inglis represents the kind of leadership Africa needs – leadership that finds resources, invests for the long term and understands that the ultimate measure of success is the opportunity created around those investments. From GTA and Ghana to the entrepreneurs, workers and communities Kosmos has supported, his impact extends far beyond barrels and molecules. He has helped build businesses, develop people and demonstrate the enormous value that responsible investment can create across Africa,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Inglis will received the Mohammed S. Barkindo Lifetime Achievement Award at the AEW Gala Dinner & Awards Ceremony, taking place during the conference next month. Convening international investors, African governments and leading operators from October 12-16, the event is positioned as Africa’s energy marketplace.

Distributed by APO Group on behalf of African Energy Chamber.

 

 




 

Continue Reading

Business

Africa’s Biggest Energy Movement Returns to Cape Town Next Week

Published

on

African Energy Chamber

Taking place October 12-16, African Energy Week is one of the continent’s major gathering, convening more than 10,000 international delegates for five days of dealmaking

CAPE TOWN, South Africa, October 5, 2026/APO Group/ –In one week, more than 10,000 delegates will converge in Cape Town to access Africa’s next generation of energy investment opportunities as African Energy Week (AEW) 2026 brings projects, capital and decision-makers together from October 12-16.

As Africa’s biggest energy movement, AEW 2026 is built for business. Through dedicated investment forums, country spotlights, the Deal Room, investor briefings, roundtables and high-level networking, the event will provide direct access to the projects and decision-makers driving Africa’s next phase of energy development.

 




  

Multiple Tracks, One Strategic Focus

AEW 2026 will deliver a multi-track agenda designed to move investment discussions across the energy value chain. The AEW Townhall will tackle the major strategic issues shaping Africa’s energy future, while the Upstream E&P Forum will put exploration, licensing, drilling and production growth at the center of discussions.

The Energy Finance Forum will connect projects and developers with capital, while the Energy Additions Forum will examine the mix of resources and infrastructure required to expand energy access and support industrialization. The Downstream & Petrochemicals Forum rounds up the main conference stages and will turn attention to refining, fuels, petrochemicals and opportunities for African markets to capture greater value from their resources.

More Platforms, More Investment Pathways

Beyond its core forums, AEW 2026 will feature dedicated platforms targeting some of Africa’s fastest-growing investment opportunities. A pre-conference will set the tone for the week’s discussions, featuring sessions including the 8th Meeting of the APPO NOCs CEOs Forum; Global Energy Leaders Forum; the Deal Room; and African Farmout Forum.

Next week, Cape Town will bring the industry together with one objective: getting African energy projects moving

Renegade Intel will bring artificial intelligence, data centers and digital infrastructure into the energy conversation, while Power Africa Today will focus on the investment, infrastructure and technologies required to expand electricity supply across the continent. Dedicated technical stages will provide space for specialized industry discussions, while roundtables and investor briefings will bring smaller groups of decision-makers together around specific projects, markets and investment requirements.

Africa’s Investment Markets Take the Stage

AEW 2026 will put some of the continent’s most dynamic energy markets directly in front of international investors through dedicated country spotlights. South Africa, Nigeria, Gabon, Ghana, Namibia, Mozambique, the Republic of Congo, Algeria, Senegal, Equatorial Guinea and more will take the stage, providing governments and industry leaders with an opportunity to present investment strategies, policy developments, available acreage and priority projects.

Petroleum ministers from across the continent are participating, bringing their respective investment priorities and opportunities directly to an international audience. The President of Senegal has designated a high-level representative to speak at AEW 2026, while ministers from the Democratic Republic of Congo, Gabon, South Africa, Equatorial Guinea, Niger, Kenya, and more are also participating. International government is also confirmed, including senior representatives from Brazil, Japan, Venezuela, the United States, Grenada, among others.

Beyond the Conference Floor

Dealmaking at AEW 2026 will extend well beyond formal conference sessions. On Monday, October 12, the Just Energy Transition Concert will open the week by bringing African music and energy together, featuring Keasungs, Mafikizolo, Roga Roga & Extra Musica and DJ Dollar before Nigerian star Adekunle Gold closes the evening as the headline act.

A program of networking functions throughout the week will create additional opportunities for investors, government representatives and executives to build relationships and advance discussions outside the conference rooms. The African Energy Awards & Gala Dinner will bring the industry together to recognize the companies, projects and individuals driving Africa’s energy development, providing a high-level conclusion to AEW’s wider networking and engagement program.

“AEW is not just another meeting to discuss Africa’s energy potential; it is a movement where projects meet capital, governments meet investors and companies turn Africa’s resources into catalysts for long-term development. Next week, Cape Town will bring the industry together with one objective: getting African energy projects moving,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

AEW 2026 is fast-approaching but there is still time to secure your place.

Visit www.AECWeek.com for more information about registration.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

Continue Reading

Energy

African Energy Week (AEW 2026) Turns Cape Town into Africa’s Energy Marketplace

Published

on

African Energy Chamber

Ministerial delegations, national oil companies, operators and financiers will converge in Cape Town to negotiate deals, forge commercial partnerships and advance African energy projects

CAPE TOWN, South Africa, October 5, 2026/APO Group/ –African Energy Week (AEW) 2026 (https://apo-opa.co/4dR325o) is more than a conference. It is Africa’s energy marketplace – a meeting point for the governments that control resources, the companies that develop them, the financiers that provide capital and the service providers that turn investment decisions into operating projects. From October 12–16, Cape Town will become a platform for these players to negotiate deals, establish commercial relationships and move African energy opportunities closer to execution.

 




  

This commercial mandate has helped turn AEW into a broader movement around African energy development. By bringing decision-makers across the value chain into one marketplace, the event creates an opportunity not only to discuss the trajectory of Africa’s energy systems, but to actively reshape it.

AEW 2026 will convene ministers, national oil companies (NOCs), international operators, independents, financiers and service companies, with a program structured around commercial engagement. In addition to its strategic conference stages, the event incorporates live deal signings, structured business matchmaking and closed-door meetings. More than 9,000 delegates from over 100 countries are preparing to make their way to Cape Town, bringing with them new opportunities for investment, collaboration and project advancement.

AEW has already cemented itself as Africa’s energy marketplace, where every party needed to advance a project or initiative is present and actively pursuing deals. The marketplace model has also translated engagement at the event into tangible commercial outcomes, with agreements concluded across financing, project development and cross-border partnerships.

When people ask me what AEW is, I tell them it’s the African energy marketplace

Agreements signed at recent editions span project finance, trade finance, hydrogen development and NOC partnerships. Signatories at AEW 2022 included Afreximbank, Sasol, Technip Energies and Namcor. The 2023 edition recorded a loan agreement between Afreximbank and Alphaden Energy & Oilfield, as well as a hydrogen agreement between Gambia’s Ministry of Petroleum and Energy and H2 Gambia Limited. Five agreements were signed at AEW 2024, including a partnership between the NOCs of the Republic of Congo and Azerbaijan and a trade finance agreement between Afreximbank and Dorman Long Engineering.

Equatorial Guinea’s 2026 licensing round illustrates how engagement at AEW progresses into commercial activity. The country announced the round at AEW 2025 and provided prospective bidders with details on available acreage, the bid timeline and amendments to fiscal terms and production sharing contracts. This momentum will continue into 2026. Algeria will bring its ongoing bid round – featuring seven onshore exploration opportunities – to the forefront of the event while Liberia’s Petroleum Regulatory Authority, in partnership with Energy Capital & Power, will showcase the country’s 2026 Direct Negotiation Petroleum Licensing Round.

AEW 2026 takes this engagement further. The Deal Room provides project sponsors and developers with a platform to present active oil, gas, power and infrastructure transactions, while the African Farmout Forum, held in partnership with Moyes & Co, Farmout Angel and Envoi, presents available blocks and acreage from across the continent. An African Upstream M&A panel will assess prevailing deal structures, and a dedicated finance session will examine risk allocation as a determinant of financial close.

Country sessions give operators direct access to government decision-makers. The program features spotlights on South Africa, Senegal, Nigeria, Namibia, Ghana, the Republic of Congo and more, while the 8th Meeting of the African Petroleum Producers’ Organization NOC CEOs’ Forum will facilitate collaboration between major players.

Power Africa Today, Renegade Intel and the Upstream E&P Forum will run alongside the main program, extending AEW’s coverage to power, digital infrastructure and exploration. Together, these platforms reinforce AEW’s role not simply as a forum for discussing Africa’s energy future, but as a place where the commercial relationships, investment decisions and agreements shaping that future are made.

“When people ask me what AEW is, I tell them it’s the African energy marketplace. You walk into that building and ministers are there, NOCs are there, banks are there, the company with the rig is there, and they’re all looking for each other. Some of the most important conversations of the year happen in a corridor between sessions, and more often than not they end with a signed agreement,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Registration for AEW 2026 is available at https://apo-opa.co/4dR325o.

Distributed by APO Group on behalf of African Energy Chamber.

 

 




 

Continue Reading

Trending