For the ninth straight quarter, the oil industry has seen negative growth, shrinking once more in Q2 2022 by -11.8% y/y after a more severe contraction of -26% y/y in Q1.
These stocks were chosen based on how well their prices have performed so far this year, and are shown by the percentage gained.
Oando – 2%
The market capitalization of Oando Plc increased by N1.243. 14 billion or 2.% to finish at N63,400 billion on August 31, 2022. Conoil Plc’s shares increased in value by 2.12% throughout the month, from N25.95 to N26.50 per share.
5% Adova Plc
Adova Plc’s stock has experienced gains throughout the month as well. The price of the oil company increased by 5% this month, from N12.00 to N12.60. Also, during the time period under consideration, the share price of Japaul Gold Plc increased by 43.47%, rising from 23 kobo per share to 33 kobo per share.