Wale Tinubu is the Group Chief Executive of Oando PLC, one of sub-Saharan Africa’s foremost indigenous integrated energy groups. Mr Tinubu began his career in 1992 as an attorney, specialising in corporate and petroleum law assignments. In 1994, he co-founded Ocean & Oil Group and is widely recognized for guiding its strategic development from an oil trading and shipping company to the fully diversified and integrated Oil & Gas Company it is today.
In 2000, Ocean and Oil acquired Unipetrol during the Federal Government of Nigeria’s privatization exercise and just two years later, Mr Tinubu led the largest ever acquisition of a quoted Nigerian company, with the purchase of Agip by Unipetrol. The group was rebranded as Oando PLC and has grown to become the leading oil and gas retailer in Nigeria, ensuring one in five cars on Nigerian roads drive on its fuels.
Oando has since refocused its business model to become an integrated energy solutions provider, encompassing downstream, midstream and upstream operations, with an enterprise value of ~$5B. In the midstream, Oando Gas and Power (OGP) is the foremost company in the distribution of natural gas, having built approximately 300km of gas pipelines serving over 100 commercial customers in Lagos, Calabar and Port-Harcourt. In the upstream, Oando Energy Resources (OER), the exploration and production subsidiary, is focused on assets in the Niger Delta and West African sub-regions. OER holds interests in 15 licenses; both onshore and offshore. Oando Energy Services (OES), another subsidiary of Oando, has a portfolio of the largest swamp drilling fleet in Nigeria and provides oilfield and rig services to major upstream companies operating in Nigeria.
In July 2014, the company completed the $1.5 billion acquisition of Conoco Phillips Nigerian businesses fortifying its position as the largest indigenous independent oil & gas producer in Nigeria with a current net production of 43,145 boepd (Barrels of Oil Equivalent per Day) and 230.6 mmboe (Million Barrels of Oil Equivalent) of 2p reserves and 536.8 mmboe of 2C reserves.