Top Ten Oil & Gas Companies In Nigeria

Since the discovery of crude oil in Oloibiri in present-day Bayelsa State, in Southern Nigeria in the year 1956, oil has been one of the mainstays of the Nigerian economy. The Nigerian government has depended nearly wholly on proceeds from crude oil to drive the nation’s economy.

Oil and gas still play a major role to date despite the various administrations’ plans to diversify the Nigerian economy. Today, the Agricultural sector, ICT Sector, Oil & Gas sector, Entertainment sector, and the manufacturing sector has been the mainstay of the Nigerian Economy. Data from the Central Bank of Nigeria (CBN) shows that these sectors have played a major role in making Nigeria the most rated economy in Africa.

The upstream and downstream activities of these energy firms have over the years helped to boost the Nigerian economy, create jobs for the teeming youths especially for those in the Niger Delta region of Nigeria. Top-rated energy firms such as Seplat, Total, Mobil, Shell all have their presence in the country.

Some of these energy companies are listed on the nation’s local stock market. This helps to buffers the Nigeria Stock Exchange (NSE), and today the NSE is one of the biggest stock markets in the world in terms of Market Capitalization.

In this article, we are going to rank these listed energy firms based on their Market Capitalization.

Seplat Petroleum Development Company Plc:  Seplat is currently trading at N549.7. The oil and gas firm has a Market Capitalization of N323.47bn. Seplat Petroleum Plc is the most capitalized oil and gas firm listed on the Nigerian Stock Exchange. The group is the overall ninth most capitalized listed company in Nigeria behind; Dangote Cement Plc, MTN Nigeria Communications Plc, Airtel Africa Plc, Nestle Nigeria Plc, Guaranty Trust Bank Plc, Zenith Bank Plc, Nigerian Breweries and Stanbic IBTC Bank.

Seplat Petroleum Development Plc has the value of an outstanding share of 588.44 million. The group’s trading name on the Nigerian stock market is SEPLAT. The company is also one of the most valued stocks listed on the Nigerian bourse market in terms of its price.

The company is listed on the Premium Board of the NSE. Seplat Petroleum Plc services include; crude oil exploration and production. The oil and gas firm was incorporated on June 17th, 2009 and was listed on the Nigerian Stock Exchange on April 14th, 2014.

11 Plc (Mobil): 11 Plc formerly known as Mobil Plc is the second most capitalized oil and gas company in Nigeria. 11 Plc has a Market Capitalization of N53.33bn. The energy firm was incorporated on December 31st, 1951. 11 Plc has the value of an outstanding share of 360.60 million.

The company is listed on the Main Board of the Nigerian Stock Exchange. 11 Plc Ticker Symbol on the NSE is MOBIL. The energy firm shares price is currently trading at N147.9.

 Oando Plc: Oando Plc has a Market Capitalization of N45.50bn. The group is listed on the NSE Main Board. Oando was incorporated on August 25th, 1969. The company has the value of outstanding shares of 12.43bn. Oando services include integrated oil and services. The company’s trading symbol on the Nigerian stock market is OANDO. The group’s shares price is currently trading at N3.7. Oando listed on the NSE on February 24th, 1992.

Total Nigeria Plc: Total Nigeria Plc shares price stands at N110.9. The group has a Market Capitalization of N37.65bn and outstanding shares value of 339.52 million. Total is listed on the Main Board of the NSE. The group’s trading symbol is TOTAL. Chief Felix Majekodunmi, Engr. Rufa’I Sirajo, and Jeff Nnamani are part of the Company’s Board of Directors.

Forte Oil Plc: Forte Oil Plc trading symbol is FO. The oil and gas firm has an Equity Capitalization of N23.57bn. The group is listed on the NSE’s Main Board. Forte Oil has an Outstanding Shares value of 1.30bn.

Akin Akinfemiwa, Dr. (Mrs) Mario Mandara, and Christopher Adeyemi are part of the group’s Board of Directors. Forte Oil was incorporated on November 12th, 1964. Forte Oil shares are trading at N18.1.

Conoil Plc: Conoil Oil shares sell at N18.5. The group has a Market Capitalization of N12.84bn. The group is listed on the NSE Main Board. The group’s outstanding shares value stands at 693.95 million. Conoil Plc was incorporated on June 30th, 1970.

The company’s services include; marketing of refined petroleum products, manufacturing, and marketing of lubricants.

MRS Oil Nigeria Plc: MRS Oil is listed on the NSE’s Main Board. The energy firm has an Equity Capitalization of N4.66bn. The group’s shares are currently trading at N15.30. MRS Plc has the value of the outstanding shares of 304.79 million.

The company’s trading symbol on the floor of the Nigerian Stock Exchange is MRS. Chief Sir Amobi Daniel Nwokafor, Matthew Akinkade, and Christopher O. Okorie form part of the group’s Board of Directors. MRS was incorporated on August 12th, 1969.

Eterna Oil Plc: Eterna Plc is listed on the Main Board of the Nation’s local bourse market. The oil and gas firm has a Market Capitalization of N3.91bn. The group has the value of outstanding shares value of 1.30bn.

Eterna trading symbol on the NSE is ETERNA. The company’s shares price is currently trading at N3.0. Eterna Plc was incorporated on January 13th, 1989.  Adebode Adefioye, Chief (Dr) Michael Ade Ojo, and Mahmud Tukur are members’ of the Company’s Board of Directors.

Japaul Oil & Maritime Services Plc: Japaul Oil Plc is the ninth most capitalized oil and gas company in Nigeria. The group’s shares price is currently trading at 2 Kobo.

Japaul services include; manufacturing and marketing of lubricating oils and petrochemicals and sale of petroleum products such as Fuel, Kerosene, Diesel amongst others.

The group has an Equity Capitalization of N1.25bn. The company has the value of an outstanding share of 6.26bn. Japaul services include: rendering Maritime services, Oil and Gas service, dredging, quarry, transportation, and Engineering construction.

Rak Unity Petroleum Company Plc: Rak Unity Plc is the tenth most capitalized energy company listed on the Nigerian Stock Exchange. The group is listed on the ASeM Board of the NSE. The energy firm has an Equity Capitalization of N16.99 million. The group trading symbol on the Nation’s local bourse market is RAKUNITY.

Rak Unity Plc was incorporated on December 20th, 1982. Aderonke Onadeko, Edo-Abasi Ukpong, and James Ogungbemi are part of the company’s Board of Directors.

The group’s shares price is currently trading at 3 Kobo. Rak Unity has outstanding shares value of 56.62 million.

 

 

 

 

 

 

Author: FMN

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