Nigeria-based oil and gas producer and trader Oando turned around to make a profit in the six months to June after a loss in 2016 as revenue more than doubled and finance costs halved. A Nigerian television station reported two weeks ago that Oando was the subject of a "comprehensive investigation" by Nigeria’s Securities and Exchange Commission (SEC). This was after some of its foreign investors filed a complaint about its shareholding structure following its $1.65bn acquisition of the Conoco-Phillips assets in Nigeria in 2014.
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