Energy

Nigeria’s Oando To Discussion Investment in Nigeria’s Future at Oil & Gas Conference

Nigeria’s foremost oil marketing major, Oando Plc said it plans to leas discussions at West Africa’s largest oil and gas conference scheduled for Abuja between July 2 – 5, 2018.

This is contained in a statement released by the company that the theme of this years conference is “Driving the Nigeria Oil & Gas Industry Toward Sustainable Development & Growth”.

THe statement  added that Nr. Adewale Tinubu, group chief executive (GCE) of Oando will be speaking on the topic ‘Investing in the Future of Nigeria for Sustained Economic Development and Growth.’

Tinubu will alongside industry colleagues such as Bello Rabiu of NNPC; Chike Onyejekwe, GMD, Aiteo and Tony Attah, MD/CEO, Nigeria LNG deliberate on the topic and proffer solutions to ensure oil and gas continues to be a relevant and viable resource for moving the nation forward.

The discussants will specifically look at sectors such as gas which is still not being fully exploited; Nigeria has significant gas reserves, estimated at 192 trillion cubic feet, the largest gas reserves in the continent and ninth in the world.

Despite this abundant reserve base, its utilization in the domestic sector is grossly inadequate and the country is yet to fully benefit from her natural gas endowment.

Also to be discussed at the event is how the upstream activities can be increased and the role indigenous players will have to play in collaboration with the Government in realising this effort.

Apart from Tinubu’s panel session, Ainojie Irune, the chief operating officer (COO), of Oando’s upstream business, Oando Energy Resources (OER) will join a panel discussion on the topic; ‘The Independent Producers Role in the Future of Upstream Production’. He will speak on the independent producers’ perspective, how to remain profitable amidst shifting global markets as well as steps that can be taken to increase the cost effectiveness of doing business in Nigeria.

The event is set to host dignitaries including Yemi Osinbajo, the vice president of Nigeria, who will officially open the conference and the secretary general, OPEC, Mohammad Sanusi Barkindo who will give a keynote address at the event.

“The Nigerian Oil and Gas Conference & Exhibition is an important event in the Nigeria oil and gas industry calendar. As such, I am delighted to participate in discussing the current state of our industry and discuss the roadmap for moving the industry forward, ” Emmanuel Kachikwu, minister of state for Petroleum Resources who will be in attendance said.

The Nigeria Oil & Gas Conference & Exhibition, now in its seventeenth year is expected to have in attendance over 700 industry players some of who will be sharing their perspectives on driving the Nigerian Oil & Gas Industry towards sustainable development and growth.

The event which is duly supported by the Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC), was set up to bring together oil and gas industry stakeholders in Nigeria to enable them showcase their oil and gas projects and impact via an exhibition and panel discussions, to meet with Government players and their peers to discuss sector opportunities and through collaboration proffer solutions, develop and execute initiatives that will propel the Nigerian economy forward.

Oando is a platinum sponsor of the event and has been a keen supporter of NOG for over a decade; other category sponsors include indigenous sector players such as Aiteo and Eroton and International Oil Companies (IOCs) such as Total Nigeria Plc and Total and Chevron Nigeria Limited.

This is coming on the heels of the Nigerian Stock Exchange (NSE) at the weekend picking Oando Plc and Beta Glass Company Plc as two of the 30 most capitalised stocks.

The Nation newspaper reported that in its half-year review of sectoral indices, the NSE added Oando Plc and Beta Glass to the NSE 30 Index, the influential index that tracks the 30 most capitalised companies at the stock market. Oando and Beta Glass displaced Julius Berger Nigeria and Diamond Bank from the group. Oando also displaced MRS Oil and Gas in the NSE Oil and Gas Index, the sectoral index that serves as barometer for the oil and gas sector.

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