The Ocean and Oil Group was created in 1994 with the establishment of Ocean and Oil Services, a petroleum products supply and trading company.
In 2000, Ocean and Oil acquired a 30% controlling interest in Unipetrol Plc, a downstream petroleum marketing company in Nigeria.
Ocean and Oil Holdings was created in 2001 to capitalise on the evident business opportunities in the Nigerian Oil & Gas sector.
In 2001, Ocean and Oil increased its stake in Unipetrol to 42% via an irredeemable convertible loan stock issue.
In 2002, Ocean and Oil led Unipetrol's bid for 60% of Agip Nigeria Plc.The merged company was rebranded as Oando Plc in 2003, the second largest downstream petroleum marketing company in Nigeria.
Avante Capital Partners, a financial advisory firm, was created in 2002 as a wholly owned subsidiary of Ocean and Oil.
Avante Property Asset Management Services was incorporated as pat of the Ocean and Oil group of companies in 2004.
In 2007, Ocean and Oil Holdings swaps its shares from Oando Energy Services Limited, Oando Production Company Limited, Oando Supply and Trading and Oando Trading to Oando Plc shares. This brings Ocean & Oil Holdings total stake in Oando plc is to 35%
Emerging Capital Partners (ECP) invests $35m in Ocean and Oil Invesments.
In 2008, Ocean and Oil Holdings creates Avaizon Consulting Limited, This is a management consulting company that specializes in performance management and leadership development. It offers quality HR related service to a number of companies across divers sectors, including the largest indigenous integrated energy company in Nigeria.
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