Nigeria

Ardova Opens Lagos Blending Plant
An Ardova tanker at an Ardova fuel station in Lagos. ©Tolu Owoeye / Shutterstock

Ardova Opens Lagos Blending Plant

December 4, 2024

Nigerian energy company Ardova has opened a sparkling new lubricant blending plant in Apapa, a district of the capital L ...

NNPC Denies Malta Connection

NNPC Denies Malta Connection

August 28, 2024

Officials from the Nigeria National Petroleum Corp. opened an illicit lubricant blending plant in Malta in order to unde ...

MRS Oil Records Jump in Earnings

MRS Oil Records Jump in Earnings

May 28, 2024

Nigerian blender MRS Oil Nigeria reported large increases in gross profit and sales revenue for its lubricants segment i ...

Conoil Profit Falls on Lower Sales

Conoil Profit Falls on Lower Sales

February 27, 2024

Nigerian lube blender Conoil reported a slightly lower gross profit and a 42% drop in sales revenue for its lubricants s ...

MRS Posts Big Earnings Jump

MRS Posts Big Earnings Jump

February 20, 2024

Nigerian blender MRS Oil Nigeria Plc reported a 154% jump in gross profit for its lubes segment for the full year, on a ...

Additive

Ardova Delisted After Acquisition by Ignite

August 22, 2023

Nigerian fuel and lubricant supplier Ardova Plc has been delisted from Nigeria’s biggest stock exchange after an inves ...

MRS Oil Reports Huge Earnings Increase

MRS Oil Reports Huge Earnings Increase

August 15, 2023

Nigerian blender MRS Oil Nigeria Plc reported a nearly six-fold jump in gross profit and an 18% increase in sales revenu ...

Conoil Earnings Drop Despite Reduced Costs

Conoil Earnings Drop Despite Reduced Costs

May 30, 2023

Nigerian lubricants blender and marketer Conoil reported a 21% decline in gross profit and 51% less sales revenue for th ...

Profits Down for MRS Oil Nigeria

Profits Down for MRS Oil Nigeria

April 11, 2023

MRS Oil Nigeria Plc reported that gross profit for its lubricant segment fell 64% in 2022 due to negative impacts of inf ...

Ardova Goes from Loss to Profit

Ardova Goes from Loss to Profit

February 21, 2023

Touting efforts to advance its lubricants business, Nigerian blender Ardova Plc reported strong rebounds in net profit f ...

Additive

Ardova Chief Wants to Buy Out Minority Owners

February 14, 2023

The majority owner of Nigerian fuels and lubricant supplier Ardova plc has proposed to buy out other shareholders and to ...

Conoil Profits Take a Dive

Conoil Profits Take a Dive

January 31, 2023

Nigerian lubricants blender and marketer Conoil reported 63% less gross profit for the fourth quarter of 2022 and a 57% ...

Steep Drop in Profits for Ardova

Steep Drop in Profits for Ardova

December 6, 2022

Nigerian blender and distributor Ardova Plc reported an 83% drop in net profit and a 10% increase in sales revenue for i ...

Profits Drop for Nigeria’s Conoil

Profits Drop for Nigeria’s Conoil

November 29, 2022

Nigerian lubricants blender and marketer Conoil reported a 38% drop in gross profit and flat sales revenue for the quart ...

NNPC Buys OVH Downstream Business

NNPC Buys OVH Downstream Business

October 11, 2022

Nigerian National Petroleum Co. has acquired OVH Energy Marketing, operator of the Oando fuels and lubricants business a ...

Ardova Posts Bigger Loss

Ardova Posts Bigger Loss

August 23, 2022

Nigerian blender and distributor Ardova Plc’s lubricants and greases segment reported a net loss and a 16% increase in ...

Earnings Decrease for Castrol, Conoil

Earnings Decrease for Castrol, Conoil

August 9, 2022

BP’s Castrol segment reported a decrease in underlying replacement cost before interest and taxes for the second quart ...