Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Nigeria
  4. Nigerian Stock Exchange
  5. Conoil Plc
  6. News
  7. Summary
    CONOIL   NGCONOIL0003

CONOIL PLC

(CONOIL)
  Report
SummaryChartsNewsCompanyFinancialsConsensus 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Conoil : OML 150 - Oil Workers' Protest Threat to Conoil Production in Delta

09/02/2021 | 10:06am EDT

Workers under the auspices of Indigenous Workers Union of OML 150 field, operated by Conoil Producing Limited, yesterday protested against prolonged leadership crisis in the 14 Itsekiri host communities to the oil company in Delta State.

They alleged that the sustained claim to leadership of OML 150 Community Trust Committee by one Monday Agbeyi group on one hand and Charles Omadeli-led executive on the other has been threatening their work as staff of Conoil Producing Limited despite the Delta State Government intervention in the crisis.

In an attempt to put a halt to the crisis, which started in December 2020, the state government had penultimate Monday set up a seven-man committee to oversee the affairs of OML 150 field and interface with Conoil Producing Limited on behalf of the seven host communities, but Agbeyi has allegedly been resisting the move.

However, the indigenous Oil Workers' Union in a statement issued yesterday and signed by its Chairman, Mr. Ebamije Edemeko, said the continued leadership claim of Agbeyi despite the government intervention is threatening the operations of the oil company, which in turn might affect their continued employment.

The union commended the state Governor, Dr. Ifeanyi Okowa, and the state Commissioner for Oil and Gas, Prince Emman Amgbaduba, for what they described as a timely and expedient intervention into the leadership crisis that had rocked the OML 150 field since December 2020.

The crisis, they said, had mostly affected them, and by extension, their families and dependents, and have also robbed both the federal and state government of revenues that should have been derived from Conoil operations.

"The decision of the state government is well received by the generality of the workers and people of the affected communities. We, therefore, call on the government not to pay attention to the selfish and scandalous publications which are intended for mischievous ends by a small group of persons led by one Agbeyi, who, despite being a public servant in active service, and currently the treasurer of Warri North Local Government Area, puts himself forward for such a position against the prescriptions of the Fifth schedule of the 1999 Constitution of the Federal Republic of Nigeria.

"We, therefore, call on the state government and the Local Government Service Commission to call the Agbeyi to order. We further state that the government should not allow anyone to undermine the provisions of the Constitution of the Federal Republic of Nigeria, which is binding on all citizens of Nigeria," the union added.

Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

All news about CONOIL PLC
09/02CONOIL : OML 150 - Oil Workers' Protest Threat to Conoil Production in Delta
AQ
08/03Conoil plc Reports Earnings Results for the Second Quarter Ended June 30, 2021
CI
06/03CONOIL : First Quarter Profit Jumps 63 Percent After Paying N4.3 Billion Damages Claim to ..
AQ
06/02Conoil plc Reports Earnings Results for the First Quarter Ended March 31, 2021
CI
06/01CONOIL PLC : 1st quarter report
CO
03/10CONOIL : Bayelsa Community Shuts Conoil's 30,000 BPD Flow Station
AQ
02/01Conoil plc Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
CI
01/27CHEVRON : Sells 40% Stake in OMLS 86, 88 to Conoil
AQ
01/05CONOIL : 3 Months After Crude Oil Spill Causing Environmental Pollution - Bayelsa Communit..
AQ
2020Conoil plc Reports Earnings Results for the Third Quarter Ended September 30, 2020
CI
More news
Financials
Sales 2020 117 B 287 M 287 M
Net income 2020 1 440 M 3,51 M 3,51 M
Net cash 2020 5 705 M 13,9 M 13,9 M
P/E ratio 2020 10,0x
Yield 2020 7,19%
Capitalization 17 696 M 43,1 M 43,2 M
EV / Sales 2019 0,11x
EV / Sales 2020 0,07x
Nbr of Employees 188
Free-Float 10,7%
Chart CONOIL PLC
Duration : Period :
Conoil Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 25,50 NGN
Average target price 26,50 NGN
Spread / Average Target 3,92%
Managers and Directors
Kheterpal Hardeep Singh Managing Director & Director
Salam Ismail Ajani Finance Director & Executive Director
Michael Adenuga Chairman
Moses Ebietsuwa Omatsola Non-Executive Director
Michael Jituboh Non-Executive Director
Sector and Competitors