Mobil Oil Nigeria plc said it has changed its name to 11 Plc (pronounced as “Double One Plc”).
This was confirmed in a statement available to Pageone signed by Acting Head, Listings Regulation Department, Mr Godstime Iwenekhai.
According to the document from the Nigerian Stock Exchange, the name change to Double One plc will take effect from Friday, 11 August 2017. The company which is a subsidiary of ExxonMobil began operations selling Sunflower Kerosene in 1907 as Socony Vacuum Oil Company.
See statement below:
Dealing Members are hereby notified that Mobil Oil Nigeria Plc has changed its name to 11 Plc (pronounced as “Double One Plc”). This is sequel to the resolution passed by the company’s shareholders at its Annual General Meeting (AGM) held on 24 May 2017. The Company has since obtained a new Certificate of Incorporation from the Corporate Affairs Commission (CAC) bearing the new name.
The change of name will be implemented by The Nigerian Stock Exchange with effect from Friday 11 August 2017.
ExxonMobil has three major subsidiary companies in Nigeria. Mobil Producing Nigeria Unlimited (MPN), Esso Exploration and Production Nigeria Limited (EEPNL – Upstream operations), and Mobil Oil Nigeria (MON – Downstream operations).
Mobil Producing Nigeria is a subsidiary of Exxon Mobil Corporation and the second largest oil producer in Nigeria. Mobil Oil Nigeria is a publicly traded company listed on the Nigerian Stock Exchange.
Our two upstream subsidiaries have a long history of operations in Nigeria and have significant oil & natural gas production and a leadership exploration position in the deepwater offshore Nigeria. The companies’ operations are one of the largest sources of revenue for the Nigerian government and the economy. There are approximately 1900 ExxonMobil employees with Nigerians representing 96 percent of the work force. Company headquarters is located in Lagos.
About Mobil Oil Nigeria
Mobil Oil Nigeria began operations selling Sunflower kerosene in 1907 as Socony Vacuum Oil Company. The company changed its name to Mobil Oil Nigeria Limited and became a limited liability company in December 1951. In 1991 it became a publicly traded company known as Mobil Oil Nigeria plc. It currently operates more than 200 retail outlets located in all 36 states of Nigeria. These include many modern state-of-the-art outlets. Joint ventures with Mr. Biggs; a Nigerian food vendor, provide quality products and services at some of these locations. MON owns three plants located in Apapa, Lagos State, that manufacture lubes, petroleum jelly, and insecticide. The 450,000 barrel lube oil plant is one of the most sophisticated in Africa.