11 Plc
11 Plc (formerly Mobil Oil Plc) is a Nigerian company. It is the main distributor of Mobil fuel and lubricants in Nigeria.[1] It has two natural gas plants in western Nigeria with future plans to invest in solar energy.[2][3] The company sells Liquefied Petroleum Gas across 250 retail outlets.[4]
Aside from the downstream petroleum sector, the company also invests in real estate, most notably the Lagos Continental Hotel.[5]
| Public | |
| ISIN | 🆔 |
| Industry | Oil and Gas |
| Founded 📆 | 1907 (Socony Vacuum Oil Company) |
| Founder 👔 | |
| Headquarters 🏙️ | , 1 Mobil Road, Apapa , |
Area served 🗺️ | West Africa |
Key people | Ramesh Kansagra (Chairman) Abdulkadir Amunu (Non-executive Director) Tunji Oyebanji (Managing Director) Ravi Bachu (Chief Financial Officer) Umesh Malik (Chief Business Officer) |
| Products 📟 | Petroleum products Fuel Oils Jet A-1 fuel Lubricants Gas cylinder |
| Revenue🤑 |  ₦N526.6 billion (Third Quarter 2023) |
| ₦N26.56B (Third Quarter 2023) | |
| Members | |
Number of employees | 405 |
| 🌐 Website | [1] |
| 📇 Address | |
| 📞 telephone | |
History
In 2019, 11 Plc expanded its investment in real estate with the acquisition of the Lagos Continental Hotel.[5]
The Petroleum company that operates under Mobil brand unveiled Mobil Super 2000 and 3000 products in 2022, which are motor lubricants.[1]
At the 45th Annual General meeting of shareholders, the company announced a 53% increase in yield, growing from N243m the previous year to N373m in 2022. This was in addition to dividends.[6] In 2024, 11 Plc increased its dividend from 850 kobo per share to 900 kobo per share, despite an economic downturn in Nigeria the previous year.[7] In the same year, N3.2 billion was approved for payment as cash dividends to shareholders as the company's profits rose to N26.6 billion according to a company statement.[8]
Alongside Total Energies and AA Rano, 11 Plc is a leader among petroleum companies purchasing dangote petrol from NNPC.[9]
References
- ↑ 1.0 1.1 "11 Plc Unveils Mobil Super Lubricants's Radio Campaign – THISDAYLIVE". www.thisdaylive.com. Retrieved 2024-09-21.
- ↑ Akintayo, OpeOluwani (2023-04-02). "11 Plc plans fresh investment in downstream sector". Punch Newspapers. Retrieved 2024-09-21.
- ↑ Our Reporter. "11Plc targets increased investment, profitability". The Nation.
- ↑ "11 Plc Sees Brighter Future Growth Pattern, Profitability – Independent Newspaper Nigeria". 2024-05-14. Retrieved 2024-09-21.
- ↑ 5.0 5.1 Popoola, Feyisayo (2019-12-24). "11 Plc acquires Lagos hotel from AMCON". Punch Newspapers. Retrieved 2024-09-21.
- ↑ Nnodim, Okechukwu (2023-05-28). "11Plc's 53% revenue rise delights shareholders". Punch Newspapers. Retrieved 2024-09-21.
- ↑ "Shareholders Excited as 11Plc Increase Dividends to 900 kobo – THISDAYLIVE". www.thisdaylive.com. Retrieved 2024-09-21.
- ↑ Oladipo, Oladehinde (2024-05-23). "11 Plc pays N3.2bn dividends as profit hits N26.6bn". Businessday NG. Retrieved 2024-09-21.
- ↑ Dipo oladehinde, Ibrahim Abubakar (19 September 2024). "11 Plc, Total Energies, AA. Rano, others pay N766/litre to lift Dangote petrol". Businessday NG.
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