- Turnover decreased by 10%, N381.7 billion compared to N425.7 billion (2014)
- Gross Profit increased by 7%, N77.7 billion compared to N72.3 billion (2014)
- Loss-Before-Tax decreased to (N51) billion compared to (N138) billion (2014)
- Loss-After-Tax decreased to (N49.7) billion compared to (N145.7) billion (2014)
- The company last month announced a restructuring of its debt with the execution of its N94.6Billlion Medium Term Note facility with 10 leading financial institutions.
- Oando PLC also struck a deal that will help inject about USD210million from Helios/Vitol JV.
- It has also sold some of its assets in the Power sector to help raise adequate capital.
Here are its plans to improve revenues;
- In its upstream it claims to have recorded an 118% increase in total production to 19.9 million boe in the 2015 as compared to 9.1 million boe 2014. Growth in average production from 24,945 boe/day in 2014 to 54,520 boe/day in 2015.
- In its more profitable midstream segment it says it is commencing an 8.5km pipeline expansion for the Central Horizon Gas Company (CHGC)