BrandWikiReturn

MRS Oil Nigeria Plc

MRS Oil Nigeria Plc is a Nigerian oil marketing company with headquarters in Lagos. The firm previously traded under the name of Texaco Nigeria Plc.

History

Previously known as Texaco Nigeria Plc, a firm whose activities in Nigeria dates back to 1969 when it was established to take over the Nigerian trading interest of Texaco Africa Limited.[2] In 2006, Texaco Nigeria became Chevron Oil Nigeria Plc.[3]

In 2009, a consortium of MRS Holdings and Petroci Holdings bought majority stake of Chevron Oil Nigeria Plc to form MRS Oil Nigeria PLC.[4][5] The transaction was operated between Chevron's Bermuda-based holding (Chevron Nigeria Holdings Ltd.) and MRS' Panama-based holding (Corlay Global S.A.).[6]

In 2025, MRS Oil Nigeria was delisted from the Nigerian Exchange Limited and listed to the NASD OTC Securities Exchange.[7]

Activities

MRS Oil has three business units: sale of petroleum at retail outlets or to industries, sale of aviation fuel and blending of lubricants.[8]

MRS OIL is 60%-owned by MRS Africa Holding, property of Aliko Dangote's half-brother Sayyu Dantata.[9]

See also

External links

References

  1. MRS Nigeria PLC Annual Report and Financial Statements for 2023 retrieved May 30, 2024^
  2. Goddy Egene. Nigeria: MRS Oil Nigeria - in Dire Need of Cheaper Funding This Day (Lagos), 2013-07-03, retrieved 2018-07-27^
  3. Texaco Nigeria changes name to Chevron Oil Nigeria Plc Proshare, 9 October 2006, retrieved 2025-07-14^
  4. Parselelo Kantai. Fuel barons: Oligarchs' party may be over retrieved 2018-07-27^
  5. Davidson Iriekpen. Nigeria: MRS Takes Over Texaco All Africa, 31 March 2009, retrieved 2025-07-14^
  6. Chevron Sells Fuels Marketing Business in Nigeria www.gcs-web.com, 19 September 2008, retrieved 2025-07-14^
  7. MRS Oil Nigeria Plc Announces Voluntary Delisting from the Nigerian Exchange Limited (NGX) and Admission to the NASD 28 March 2025, retrieved 2025-07-14^
  8. MRS Oil Nigeria U.S., retrieved 2018-07-27^
  9. Aliko Dangote’s brother Sayyu Dantata gains over $10 million from MRS Oil stake GhanaWeb, 2023-07-26, retrieved 2025-07-14^