MRS Oil Nigeria Plc

Last updated
MRS Oil Nigeria PLC
Company type Public
NGX:  CHEVRON
Industry Oil and gas
Predecessor
Headquarters
Lagos
,
Nigeria
Area served
 Nigeria
Key people
Patrice Albert
Marco Storari
Products
Revenue182.310 billion naira [1]  (2023)
4.048 billion naira [1]  (2023)
OwnerMRS Holdings Ltd.
Website www.mrsoilnigplc.net

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.

Contents

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

References

  1. 1 2 "MRS Nigeria PLC Annual Report and Financial Statements for 2023" (PDF). Retrieved May 30, 2024.
  2. ↑ Egene, Goddy (2013-07-03). "Nigeria: MRS Oil Nigeria - in Dire Need of Cheaper Funding". This Day (Lagos). Retrieved 2018-07-27.
  3. ↑ "Texaco Nigeria changes name to Chevron Oil Nigeria Plc". Proshare. 9 October 2006. Retrieved 2025-07-14.
  4. ↑ Kantai, Parselelo. "Fuel barons: Oligarchs' party may be over" . Retrieved 2018-07-27.
  5. ↑ Iriekpen, Davidson (31 March 2009). "Nigeria: MRS Takes Over Texaco". All Africa. 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. Archived from the original on 2024-12-20. Retrieved 2025-07-14.


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