Wale Tinubu’s Oando faces sabotage attacks on newly acquired pipelines

Key Points

• Oando Plc confirms three sabotage attacks on its pipelines in Bayelsa State, targeting key facilities including the Tebidaba-Brass and Ogboinbiri/Obiobi pipelines.
• Nigeria’s Minister of Petroleum pledges swift government action, stressing the protection of critical infrastructure after inspecting the damage caused by pipeline attacks.
• Oando responds to the sabotage by deploying emergency teams and committing to rapid repairs while investigating the full extent of the damage.

Oando Plc, one of Nigeria’s leading oil companies led by Wale Tinubu—an oil mogul and nephew of President Bola Ahmed Tinubu—has confirmed a series of sabotage attacks on its pipelines in Bayelsa State, located in the oil-rich Niger Delta. The company said three separate incidents were recorded over the past week.

According to a statement released late Friday, the attacks targeted two major pipelines: the 18-inch Tebidaba-Brass crude oil pipeline in the Brass local government area and the 24-inch Ogboinbiri/Obiobi gas pipeline in Southern Ijaw. These facilities are now part of Oando’s portfolio following its recent acquisition of Nigerian Agip Oil Company (NAOC) from Italy’s Eni.

Minister vows action over pipeline attack

The government responded swiftly. Last week, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, visited the damaged Tebidaba-Brass trunkline to assess the situation firsthand. He was accompanied by military and civilian security leaders, including the 16th Brigade Commander of the Nigerian Army, as well as representatives from local security firms like Darlon Oil and Gas Ltd, Tenebo Security Services, and Tantita Security Services.

Speaking during the inspection, Lokpobiri described the attack as “unfortunate and unacceptable,” stressing the need to rotect critical infrastructure. “This is a very important economic asset of the federation,” he said. “The government will do everything possible to protect it. We will go after anyone behind this crime. We know ourselves—we will find them.”

Oando deploys teams after pipeline sabotage

These attacks come after Oando finalized its $783 million acquisition of NAOC from Eni, doubling its stake in key onshore oil leases from 20 to 40 percent.

The deal gave Oando access to a large portfolio of assets, including 40 discovered oil and gas fields (24 currently in production), 12 production stations, over 1,400 kilometers of pipelines, three gas processing plants, and the Brass River Oil Terminal. It also includes the Kwale-Okpai power plants, which together have a capacity of 960 megawatts.

In response to the sabotage, Oando said it has deployed emergency teams to the affected sites and is working with authorities to conduct a joint investigation to assess the extent of the damage. Full-scale repairs will begin once the investigation is complete, the company said, adding that it is committed to restoring operations “as quickly as possible.” 

Pipeline sabotage and oil theft have long plagued Nigeria’s energy sector and are among the key reasons why global oil majors like Shell, ExxonMobil, Total, and Eni have pulled out of onshore and shallow-water operations. Indigenous players like Oando and Renaissance Africa Energy Holdings have stepped in to fill the gap—but the challenge now is securing these assets.

Oando expands in Caribbean, Africa

Under Wale Tinubu’s leadership, Oando has continued to grow across the energy value chain—from oil exploration and production to refining and trading. Formerly known as Unipetrol before its 2003 rebrand, the company operates through Ocean and Oil Development Partners, a joint venture in which Tinubu holds a 66.67 percent stake alongside Omamofe Boyo.

Oando is also expanding internationally. Just last month, it was selected as the preferred bidder to lease the Guaracara refinery in Pointe-à-Pierre, Trinidad and Tobago—marking a significant step in its efforts to enter the Caribbean refining market. This follows its recent entry into Angola’s upstream sector through the acquisition of Block KON 13.

Financially, Oando had a strong 2024, with revenue jumping 45 percent—from N2.85 trillion ($1.9 billion) in 2023 to N4.12 trillion ($2.76 billion). The growth was driven by higher crude output, rising gas prices, and favorable exchange rates. However, rising costs weighed on profits.