K

..........

FriedPlantain:
Dude this has nothing to do with Buhari

Oando = Wole Tinubu = Bola Tinubu = Buhari

FriedPlantain:
Dude this has nothing to do with Buhari

Was 'change' in 2014 and first quarter of 2015?

The last time I checked it was transformation agenda, youwin, TAN, etc

Hope downsizing won't be the next route, to beat down expenditure and operating cost.
Just insinuating.

my comment: I hit front page !

Afren in administration, oando with huge lose. Oboy oil industry na die this year o

Buhari's election expense left that gaping hole in Oando's financials.

So we can expect NNPC to throw some sweetheart deals in Wale Tinubu's direction soon - even the Baba Hausa can't say no to that. He knows it's favour for favour

operating expense of about N225 billion

These people are scammers.

THIS ECONOMIC DOWN TURN AND LOSSES WITH OIL PRICE FALLING TO $52 STARTED LATE LAST YEAR,DURING GOODLUCK JONATHAN REGIME,WHEN AMERICA MASSIVELY SHIFTED THEIR OIL-BUYING MARKET FROM NIGERIA TO IRAN.IT WAS THEN OKONJO IWEALA SAID 2015 WOULD BE A CHALLENGING YEAR FOR NIGERIA.JONATHAN CAUSED IT WITH LACK OF FUTURE PLANS

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I have a feeling this is just a ploy for share holders to dump their shares while Oando mop them up.

Their Q3 will be better that's why they released this. By the time they release Q3, they might even give dividend and by then, they would have been controlling the majority share holding.

But in all, I blame Nse for allowing Oando to hold on to their results, 10 months after.

veraponpo:
Jonathan destroyed this country.

Most of the reports of 2014 up to first quarter of 2015 were bad.

The worst part was the fact that states were owing staff and federal government borrowing to pay salaries forthe first time in the history of this country.

When there was civil 1967 to 1970, Awolowo did not borrow and still gave the Igbos 20 pounds each after the war.

Shame on Jonathan who failed in plenty.

Hope your stupidity isn't factory fitted? The First Quarter as mentioned isn't the conventional one. Companies have their own operational calendar.

SeverusSnape:
Loses every where since this Daura magician came on board. This must be a curse.

...change my foot.

You are just an idiot and i dont think you read the whole article because it stated that their misfortune started in 2014 not in 2015

Wow have any of their profit impact an average Nigerian?

davide470:


http://nairametrics.com/record-loss-oando-beats-estimates-posts-record-n183-billion-loss-in-fy-2014/

If only they waited a bit to acquire Conoco Phillips, the loss would not have been massive as this. All the hedging done by OER, the disposal of most of the downstream assets still could not increase the bottom line..

Oando Share Price closed at 9.96 (-4.23%) as at 23/10/15

That happens when you replace. Goodluck with 'body language'

lilprinze:
ever since this bad luck called buhari became president nothing good seems to be happening in this country anymore

Aloo ponu, as my friend usually say, ur gullibility too high I.e oo goju, is 2014 and Q1 of 2015 Buhar's regime? I think u are from Zoo or wetin u dey call ur Biafra?

Emekamex:
Buhari has destroyed this country.
We should make Amaechi abi Esther the Minister of Finance.

Is your brain so dumb to comprehend the Quarterly report was from 2014 to early 2015.

Why una dey brainless like this nau? Haba!

bettercreature:
You are just an idiot and i dont think you read the whole article because it stated that their misfortune started in 2014 not in 2015

You're just a slavish fool. Zombie be gone.

THIS JONATHAN HAS DESTROYED THIS COUNTRY,WITH HIS LACKADASICAL ATTITUDE THEY WERE ENGULFED ON ELECTION AND TO NEGLECT ANY STATE OR PERSON THAT IS APC AND CHANGE ADVOCATING PEOPLE

Emekamex:
Buhari has destroyed this country.
We should make Amaechi abi Esther the Minister of Finance.

Guy!!!

You no go kill me with laugh o

SeverusSnape:

You're just a slavish fool. Zombie be gone.

cum rag!

lilprinze:
ever since this bad luck called buhari became president nothing good seems to be happening in this country anymore

Sometimes I pity and shake my head on the crop of graduates or intending graduates in this country.

Cant u read the story? Must your hatred for bubu daura and love for otuoke local orangutan close your sense of reasoning?

They made mention of 2014 to early 2015 quarterly report which was solely otuoke local orang-utan administration

bettercreature:
cum rag!

Filthy nitwit!

FriedPlantain:
Dude this has nothing to do with Buhari, Oando had to impair one of their asset (investment) they purchased last year due to the dwindling price of oil.

Good. In addition to the Exploration and Production Asset impairment, there' are also property and equipment (rig) impairments - all caused by the plummeting oil prices.

sonnie10:


Oando = Wole Tinubu = Bola Tinubu = Buhari

You guys should learn to reason well and put on your thinking cap. This had nothing to do with all those people you mentioned, except you want to tell me that they were responsible for the global fall in oil prices - From $110/bbl to $49/bbl.
Or are you just being Sarcastic?

This will be good news for people like myself, perfect opportuinty to take position after the inevitable down trend of the stock's price in the market.

This kind of loss is enough to crumble companies, I expected so much from this company especially after the much publicised acquisition it made in 2014. I feel for its shareholders.

veraponpo:
Jonathan destroyed this country.

Most of the reports of 2014 up to first quarter of 2015 were bad.

The worst part was the fact that states were owing staff and federal government borrowing to pay salaries forthe first time in the history of this country.

When there was civil 1967 to 1970, Awolowo did not borrow and still gave the Igbos 20 pounds each after the war.

Shame on Jonathan who failed in plenty.

You and the mugus that liked ur comment are thoroughly uninformed or misinformed... Now let me educate all of u. Falling oil prices affected even the biggest players in the sector and revenues have been hit badly, many of them have had to review operating expenses and there has even been job cuts. Now about salaries, but many states never owed their civil servants, it was the governors who mismanaged and embezzled funds, even in the face of dwindling allocations, that were hit very hard. GEJ had nothing to do with these things. Ur comparing the days of Awo with now, that even makes ur folly more glaring... And dnt u talk about Igbos cos u knw nothing about it! It was 20 pounds each, even if u had a million naira. Talk more of loss of properties and investments in many parts of the country... Now tell me why an igbo man who knows his history will not be angry at this Zoo called Nigeria! We know u all hate us so we would rather be on our own... Shout out to Onwa, Ifesinachi, Dozzy Oil, Innoson, and the rest of the igbo billionaires making us proud. We shall overcome... Give us a referendum, how hard can this be!!!

Why posting losses this time? all these years of profiteering you kept quiet abi you wanna cut jobs? E ode had Nigeria companies o.

busyflexz:
Wow have any of their profit impact an average Nigerian?

Yes it has...if not directly,then indirectly.
Petroleum companies pay 85% of there taxable profit as tax. With this loss no tax will be collected this year and possibly subsequent years due to tax relief effect and so on.
This loss may also mean a fall in share price and also no dividend for their average shareholders.