Oando Wraps Up Pipeline Repairs After Spills

Oando Plc, one of Nigeria’s leading oil companies led by oil mogul, Jubril Adewale Tinubu, has completed repair work on damaged pipelines linked to a series of oil spills in Bayelsa State.

The energy conglomerate confirmed that four operational spills occurred along the NNPC Exploration and Production Ltd/Oando pipeline from October 2024 to May 2025.

The latest spill, reported on May 3 near the Ogboinbiri flow station in Southern Ijaw, prompted an immediate shutdown of crude delivery and activation of emergency response protocols.

“In line with our standard operating procedures, the affected wells were shut in, and containment measures deployed to limit environmental damage,” said Alero Balogun, Oando’s spokesperson. “All repairs on the impacted sections have now been successfully completed.”

To prevent further incidents, Oando has initiated the sectional replacement of aging pipelines.

The company worked in collaboration with regulatory bodies and the Ogboinbiri Community to conduct Joint Investigation Visits (JIVs), a required regulatory compliance measure in Nigeria’s oil and gas sector.

The Nigerian oil major reaffirmed its commitment to environmental responsibility and its host communities. “We are working diligently to support long-term sustainability in the region,” Balogun added.

Under Wale Tinubu’s leadership, Oando has continued to grow across the energy value chain —from oil exploration and production to refining and trading.

Formerly known as Unipetrol before its 2003 rebrand, the company operates through Ocean and Oil Development Partners, a joint venture in which Tinubu holds a 66.67 percent stake alongside Omamofe Boyo.

The company recently sealed a $783 million acquisition of Nigerian Agip Oil Company (NAOC) from Eni, boosting its interest in key onshore oil leases from 20 percent to 40 percent.

That followed an earlier $650 million deal with backing from AfrexInsure, reinforcing its expansion strategy across the Nigerian energy sector.

Oando reported a 45 percent jump in revenue for 2024, rising from N2.85 trillion ($1.9 billion) in 2023 to N4.12 trillion ($2.76 billion), driven by higher crude output, rising gas prices, and favorable exchange rates. However, rising costs weighed on profits.

With pipeline repairs now completed, the company is positioning itself for more sustainable growth amid increasing scrutiny on environmental compliance in Nigeria’s oil-producing regions.

 

Culled from Billionaires.Africa