Mobil Oil Nigeria plc has announced a change in its name. The company would now be known as 11 Plc (pronounced as ‘Double One Plc’).
This disclosure was contained in a statement made available to journalists and signed by Acting Head, Listings Regulation Department, Mr Godstime Iwenekhai.
According to the document obtained from the Nigerian Stock Exchange, the name change to Double One plc will take effect from Friday, 11 August 2017.
The statement reads:
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.
The company which is a subsidiary of ExxonMobil began operations selling Sunflower Kerosene in 1907 as Socony Vacuum Oil Company.
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.
There are approximately 1900 ExxonMobil employees with Nigerians representing 96 percent of the work force. Company headquarters is located in Lagos