Oando Plc has released its unaudited results for the six months (H1) ended June 30, 2026. The company’s operational delivery and value realisation drive earnings and cash growth in the first half.
Oando Plc delivered average production of 42,789 boepd (+16 percent YoY), within guidance, supported by new wells drilled, the restoration of previously shut-in wells and improved uptime.
Its production opex reduced 18 percent to $16.83/boe (H1 2025: $20.62/boe), reflecting delivery of the Group’s cost optimisation initiatives across the enlarged asset base.
Oando recorded facility uptime of 92 percent (H1 2025: circa 85 percent) and zero lost-time injuries recorded during the period.
Trading volumes of 13.15 MMbbl (H1 2025: 12.88 MMbbl), was supported by increased sourcing from marginal field producers. Oando H1 revenue went up 20 percent year-on-year to N2.1 trillion (H1 2025: N1.7 trillion), led by growth in the E&P segment and higher product prices.
Profit after tax
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