Oando announces successful US$550m participation in Project Gazelle

Oando Plc, Nigeria’s indigenous energy group, said it successfully participated in the closure of a US$925 million facility coordinated by African Export-Import Bank for Project Gazelle.

The company said it contributed US$550m through Oando Trading, a subsidiary of Oando PLC, adding that the balance $375m was raised by other parties to get a total disbursement amount of US$925m. “The accordion arrangement saw a contribution of US$550m by Oando Trading, a subsidiary of Oando PLC. The balance $375m was raised by other parties to get a total disbursement amount of US$925m. Project Gazelle is a US$3.3 billion structured crude oil-backed forward-sale finance facility sponsored by the Nigerian National Petroleum Company Limited .

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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Oando’s turnover grew to N3.4trn in 2023Oando Plc, an energy solution provider, has posted a turnover of N3.4 trillion in its 2023 full year-end unaudited financials.
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Oando records N74.7bn Profit-After-Tax as turnover rises 71% in 2023Despite the challenging business environment, Oando PLC, Nigeria’s leading indigenous energy solutions provider, posted a N74.7 billon Profit-After-Tax (PAT) in its full-year-ended 2023 ...
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