Integrated Energy Powerhouse: Oando CEO Adewale Tinubu to Speak at AEW 2023

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  • Integrated Energy Powerhouse: Oando CEO Adewale Tinubu to Speak at AEW 2023

With Africa’s energy sector poised for expansion, CEO of Oando, the Nigerian multinational energy company, will participate at African Energy Week 2023, offering insights into promising prospects within the energy space.

With its abundant reserves of oil, natural gas, and renewable energy resources, Africa holds the potential to emerge as a prominent global energy powerhouse. Under the visionary leadership of Adewale Tinubu, the Chief Executive Officer (CEO) of Oando PLC, one of Africa’s leading local energy solutions provider, the sector is on the verge of significant progress. In this context, the African Energy Chamber (AEC), as the voice of the African Energy sector, is thrilled to announce the participation of Tinubu in African Energy Week (AEW) 2023, scheduled to take place from 16th to 20th October in Cape Town. As a representative of Oando, Tinubu’s extensive experience and expertise are certain to wield a transformative influence on Africa’s energy landscape.

With a strong educational background in law and business, Tinubu embarked on a successful career as an Attorney specializing in corporate law. In 1993, he co-founded Ocean and Oil Group, a ground-breaking indigenous trading company that played a vital role in exporting Nigerian petroleum products. His leadership led to Ocean and Oil’s acquisition of a stake in Unipetrol during the Nigerian Government’s privatization exercise in 2000. Notably, he orchestrated the largest-ever acquisition of a quoted Nigerian company, with Unipetrol’s purchase of Agip Nigeria PLC in 2002, ultimately leading to the establishment of Oando PLC. Presently, Oando PLC comprises Oando Energy Resources (OER), the company’s upstream subsidiary, and Oando Trading, the supply and trading subsidiary.

Under his exceptional leadership, Oando PLC has undergone a remarkable transformation, evolving from a petroleum marketing company into a fully integrated energy group with operations spanning the downstream, midstream, and upstream sectors. Guided by his visionary approach, the Oando brand and its subsidiaries have attained significant prominence. A testament to this is the strategic partnerships forged by Oando PLC in its downstream and midstream businesses, namely OVH Energy (formerly Oando Marketing) and Axxela Limited (formerly Oando Gas and Power). These partnerships defied the challenging economic conditions prevailing in Nigeria in 2016 and attracted an impressive $300 million in capital investment, bolstering the nation’s economy.

Under Tinubu’s guidance, Oando PLC achieved successful divestments, including the sale of Oando Marketing Limited and the phased divestment from Axxela. These strategic moves positioned OVH Energy as Nigeria’s largest distribution entity and revitalized Axxela’s role in the gas distribution business. In 2014, OER accomplished a landmark $1.8 billion acquisition of Conoco Phillips’ Nigerian businesses, solidifying its position as Nigeria’s leading independent exploration and production company. OER’s portfolio encompasses onshore and offshore assets in Nigeria and the Exclusive Economic Zone of São Tomé and Príncipe, supported by substantial infrastructure and impressive reserves, resulting in an average daily net production of 40,188 barrels of oil equivalent.

On the renewable front, Oando Clean Energy (OCEL), a subsidiary of OER, is an African renewable energy business focused on investing in sustainable and viable energy solutions that aims to meet the energy needs of the continent by harnessing green and renewable sources. In 2022, OCEL took an active role in reducing greenhouse gas emissions and driving economic growth by establishing a Memorandum of Understanding with the Lagos Metropolitan Area Transport Authority. This collaborative agreement outlines the joint efforts of both entities to develop, implement, regulate, and manage an integrated and sustainable public transportation system with the objective to utilize renewable energy sources while stimulating economic development.

“Tinubu’s presence at AEW signifies a powerful convergence of leadership and expertise. His remarkable achievements in the energy sector make him a catalyst for progress, and his participation will ignite dynamic discussions, inspire innovation, and fuel the momentum towards a brighter energy future,” states NJ Ayuk, Executive Chairman of the AEC, adding that, “Together with Oando PLC, Tinubu continues to champion Africa’s energy landscape that prioritizes energy poverty and sustainable development, creating lasting positive change for the continent.”

Under the theme ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,’ Tinubu will have the opportunity to promote Africa’s energy renaissance by showcasing the company’s achievements and initiatives and he will build new partnerships which result in greater investments in the sector.

African Energy Week (AEW) is the African Energy Chamber’s (AEC) interactive exhibition and networking event, established in 2021, that seeks to unite African energy stakeholders, drive industry growth and development, and promote Africa as the destination for African-focused events.

For further information on the African Energy Week 2023 conference, click the link below: