Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NIGERIAN STOCK EXCHANGE,THE  >  11 PLC    MOBIL   NGMOBIL00007

11 PLC (MOBIL)
My previous session
Most popular
  Report  
End-of-day quote. End-of-day quote  - 09/24
179 NGN   0.00%
07/2711 PLC : Half-year results
CO
03/3111 PLC : 1st quarter report
CO
201711 PLC : Annual Report
CO
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

Cooking gas: 11 Plc increases stake in LPG sub-sector

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/12/2018 | 11:55pm CEST

…Opens 14 new plants

Adewale Sanyaolu

11 Plc, formerly Mobil Oil Nigeria Plc, as part of efforts to deepen the use of Liquefied Petroleum Gas (LPG) popularly called cooking gas, has increased its investment by opening 14 new plants.

The latest investment decision, according to the Managing Director of the company, Mr. Tunji Oyebanji, was due to the current capacity of its sister company, NIPCO’s strong presence in the LPG market since they have extensive assets and infrastructure within the various value chain from storage to distribution.

He said NIPCO’s LPG operations consist of a 10,500 metric tonnes (MT) storage capacity in Apapa, Lagos, with a distribution chain comprising 42 LPG delivery trucks with capacity ranging between three and 25 tonnes per delivery and various other investments at the retailing end of the business.

Oyebanji who further reinforced steady supply of the product noted that NIPCO has a technical supply agreement with Nigeria Liquefied Natural Gas (NLNG), the largest producer of LPG in the country, which guarantees regular supply.

He disclosed that 14 other sites have been opened simultaneously in Lagos State and it’s the company’s aim to cover all retail outlets in the state before moving to commence work in other states of the federation.

“11 Plc is taking advantage of government’s mandate through NNPC for rapid investment in growth and expansion in the LPG market considering the abundant reserves the country has. We have identified the huge potential of growth in this industry and have brought on board our expertise of many years in the downstream sector,” he added.

He, however, noted the need for aggressive awareness on the misconceptions people have about the product being expensive and not affordable and safe, because clean energy is the way to go and it is trending in different developing countries.

The post Cooking gas: 11 Plc increases stake in LPG sub-sector appeared first on The Sun News.

(c) 2018 The Sun Publishing Limited. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on 11 PLC
05:35a11 : 11Plc petitions police over Ascon occupation of Gbagada fuel station
AQ
09/2111 : 11Plc rewards customers with multi-million naira prizes
AQ
08/1911 : Oil giants flex muscles over Lagos property
AQ
07/2711 PLC : Half-year results
CO
07/1711 : Shortage of quality lubricants encourages adulteration – Mobil
AQ
07/12COOKING GAS : 11 Plc increases stake in LPG sub-sector
AQ
07/0411 : rewards loyal customers, promise to expand scheme
AQ
06/2911 : Rewards Loyal Customers
AQ
06/12COOKING GAS : 11 Plc increases stake in LPG sub-sector
AQ
06/0711 : NNPC laments low investment in LPG market
AQ
More news
Financials (NGN)
Sales 2018 180 B
EBIT 2018 16 499 M
Net income 2018 12 037 M
Debt 2018 -
Yield 2018 5,10%
P/E ratio 2018 6,34
P/E ratio 2019 6,81
Capi. / Sales 2018 0,36x
Capi. / Sales 2019 0,34x
Capitalization 64 547 M
Chart 11 PLC
Duration : Period :
11 PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 213  NGN
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Adetunji A. Oyebanji CEO, Managing Director & Executive Director
Ramesh Shantilal Kansagra Chairman
Ramesh Virwani Chief Operating Officer & Executive Director
Ravi Bachu Chief Financial Officer
Paul Chukwuma Obi Non-Executive Director & Director-Legal Services
Sector and Competitors
1st jan.Capitalization (M$)
11 PLC-8.02%179
PETRONAS DAGANGAN BERHAD--.--%6 334
RUBIS-15.67%5 536
TOWNGAS CHINA COMPANY LTD10.02%2 489
SUNOCO LP-0.39%2 334
GIBSON ENERGY INC.12.54%2 274