NEWS

Another name change: Mobil Oil Nigeria now 11 Plc

With effect from August 11 and approval of the Nigerian Stock Exchange, Mobile Oil Nigeria will now be known as 11 Plc

60% shares of Mobil Oil Nigeria Plc was acquired in 2016 by the Nigerian Independent Petroleum Company (NIPCO)

Recall that the company had announced plans to change their name earlier in April following a 2016 acquisition of 60% shares of ExxonMobil.

The Managing Director of NIPCO had said that the changes would not affect operations of the company as both Mobil and NIPCO will still carry out its activities independently.

“Mobil Oil will continue to maintain the Mobil brand at its retail outlets as well as blending and selling Mobil brand of lubricants under branding licenses from ExxonMobil. In essence Mobil Oil will continue as usual and therefore the change should be smooth and seamless”, he had said.

What would their logo now look like and what is with acquisitions and new number names?

This post was syndicated from amore

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