Interview: Nigeria's Oando Faces Up to Tough Challenges

摘要

Low oil prices have made life tough for oil companies everywhere, but Nigeria's top producer, Oando, has faced the additional hardship of a sharp devaluation of its home currency, the naira, this year. Lagos- and Johannesburg-listed Oando, which started out as a downstream player, diversified upstream at the top of the market when it paid over $1.5 billion for ConocoPhillips' assets in the Niger Delta in July 2014 -- only to see crude prices crash soon afterward (IOD Jul.31'14).