News

Nigeria: Mobil Oil Nigeria changes name to 11 Plc

  • Comments   -   Wednesday, 09 August 2017 - 15:50

(Ecofin Agency) - Nigeria-based petroleum products marketer, Mobil Oil Nigeria Plc., has announced that it has officially changed its name to Double one Plc (11 Plc).

This was confirmed in a statement signed by Godstime Iwenekhai, the acting head, listings regulation department of the Nigerian Stock Exchange, on Tuesday.

According to the document, the name change will take effect from Friday, 11 August 2017.

Dealing Members are hereby notified that Mobil Oil Nigeria Plc has changed its name to 11 Plc (pronounced as Double One Plc). This is a sequel to the resolution passed by the company’s shareholders at its Annual General Meeting (AGM) held on 24 May 2017. The Company has since obtained a new Certificate of Incorporation from the Corporate Affairs Commission (CAC) bearing the new name. The change of name will be implemented by The Nigerian Stock Exchange with effect from Friday 11 August 2017,” it reads.

Established in 1951, Mobil Oil Nigeria Plc. is a subsidiary of ExxonMobil. The company currently operates over 200 retail outlets located in all 36 states of Nigeria. Mobil also owns three plants located in Apapa, Lagos State, that manufacture lubes, petroleum jelly, and insecticide.

It should be recalled that in October 2016, Nipco Plc., bought 60% of Mobil Oil’s shares from ExxonMobil Corporation for $248 million, when the latter pulled out of the country’s downstream fuel distribution.

This new development is, however, in furtherance to Nipco’s agreement with ExxonMobil in April 2017, when the final agreement was sealed.

Anita Fatunji

SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
For the first time in its history, Côte d’Ivoire will elect senators...
Read more |  22 February 2018
Burkina Faso is looking for a new partner to operate Tambao mine,...
Read more |  22 February 2018
African countries, especially those highly dependent on hydroelectricity should diversify power sources....
Read more |  22 February 2018
In 2017, Rwanda generated Rwf72.6 billion ($85.4 million) from tea exports. Compared...
Read more |  22 February 2018
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2018-02-15 23:57:07' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-02-23 00:05:57' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
listofid2=38109,38108,38107,38106,
reference=38109,38108,38107,38106,0
Within six months, goods worth 388 million birrs (about $14 million) were seized...
Read more |  22 February 2018
During Q4 2017, the unemployment rate decreased to 11.3% in Egypt, according to...
Read more |  22 February 2018
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
For the first time in its history, Côte d’Ivoire will elect senators...
Read more |  22 February 2018
Burkina Faso is looking for a new partner to operate Tambao mine,...
Read more |  22 February 2018
African countries, especially those highly dependent on hydroelectricity should diversify power sources....
Read more |  22 February 2018
In 2017, Rwanda generated Rwf72.6 billion ($85.4 million) from tea exports. Compared...
Read more |  22 February 2018
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2018-02-15 23:57:07' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-02-23 00:05:57' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
Within six months, goods worth 388 million birrs (about $14 million) were seized...
Read more |  22 February 2018
During Q4 2017, the unemployment rate decreased to 11.3% in Egypt, according to...
Read more |  22 February 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.