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Benedict Peters: Aiteo's international ambitions

I am delighted to announce that Aiteo Group has appointed Mr. Ratko M. Knezevic to our integrated energy group's global Executive Management team as Group Advisor on Business and Capital Development, with effect from 1 May, 2017.  Mr Knezevic will be responsible for counselling Aiteo's leadership ...

Benedict Peters - Aiteo Group


Posted 2 years agoPress > Aiteo GroupInternationalEnergy +2

Nigeria and Libya could be forced to share OPEC output cuts as Saudi placates Iraq

A Saudi bid to shore up Iraqi support for a nine-month extension of an OPEC output deal could see Nigeria and Libya forced to share the burden of cuts. The two countries are currently exempt from self-imposed cuts agreed by the oil cartel as they restore capacity following domestic conflicts. Follo ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > OPECSaudi ArabiaIraq +3

New refinery to finally strengthen blind spot in Nigerian oil sector?

If latest reports out of Abuja can be believed, the completion of the Dangote Refinery in 2019 will mark a very significant milestone, and in fact a great step forward, for the Nigerian oil and gas industry. This is the latest project from Nigeria's most valuable export: Aliko Dangote. The $14 bil ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > DangoteOilNigeria +3

Nigerian output to surge after dodging OPEC cuts

In a boost to Nigerian oil production, Royal Dutch Shell on Tuesday lifted its force majeure on exports of Forcados crude oil shipments. The force majeure , which allows companies to miss contractual obligations as a result of events out of their control, was imposed on 21 February 2016 followin ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > NigeriaShellForcados +3

Nipco the latest Nigerian home player to take a shot at the majors

For a while it was all Aiteo, Aiteo, Seplat, Seplat when it came to looking for home-grown Nigerian oil players with big ambitions. But there's a new contender! Nigerian fuel retailer Nipco has launched a 4.84 billion naira ($16 mln) offer for the shares it needs to take bump up its stake in Mobil O ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > NipcoMobilNigeria +3

Gath'ring Winter Fuel! Christmas Shortage Hits Commuters in Nigeria

As a last Christmas gift to Nigeria's hardest working, it was lucky motorists and commuters who enjoyed a little present: a three-week fuel shortage. Long lines of motorists, cars and buses were seen forming at petrol stations in several of Nigeria's major cities. Prices have rocketed sensationally ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 1 year agoOpinion > FuelCrisisgovernment +3

Aiteo at the vanguard: the powerhouse at the centre of Nigerian oil

There is a quote that says: ‘ the definition of insanity is doing the same thing over and over again and expecting a different result '. It's often attributed to Albert Einstein, but it perfectly describes the state of the oil sector in Nigeria. Governments come and go, oil licences are approved, an ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > 2018Aiteo GroupNigeria +11

When it comes to vandalism Nigeria needs to address the cause, not the symptom  

Successive administrations in Nigeria each have their strengths and weaknesses, but one thing each government department has perfected into a fine art is the amalgamation of bad news into a grand narrative of considered, deliberate development. They will also never, ever miss an opportunity to take ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > SeplatOandoAiteo Group +4

OPEC vs Nigeria: Lose-lose situation?

Last week, Nigerian oil minister Emmanuel Ibe Kachikwu indicated that Nigeria would not join OPEC oil cuts until March 2018 at the very earliest, citing a lack of stability in the nation's oil output. OPEC agreed in May this year to extend output cuts into 2018, though Libya and Nigeria were exemp ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > OPECNigeriaProduction +2

Partnerships spell progress for plucky Nigerian firms

As if any more was needed, this week have another story to evidence the appetite for indigenous Nigerian oil firms to flex their muscles outside their own borders. Following the lead set by Aiteo Group's internationalist aims earlier this year , Oranto Petroleum has announced that it is set to s ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > OrantoUgandaInternational +6

Nigeria's Corruption Rhetoric Won't Fix The Oil Sector

In Nigeria ‘corruption' has so many forms, so many connotations and occurs in so many settings that it has become a loaded and vague term. At its most benign, it greases the wheels of a transaction, gets you in the room, bumps you to the front of the line. At its most malign, it undermines the fab ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > NigeriacorruptionOil +4

Arthur Eze: Nigeria Profile

Last week I wrote about the partnership agreement with the Government of Uganda that was on the cards for Oranto , one of Nigeria's plucky oil groups taking on the IOCs. But what about the man behind the company. In this series, I'll be looking at some of the figures behind Nigeria's new breed of p ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > Arthur EzeAtlas OrantoOranto Petroleum +7

Benedict Peters: Investing In People Will Deliver Continuous Growth

In a troublesome year for the oil market, it has been a transformative year for Aiteo Group . The test so far has been demonstrating the resilience of Aiteo in the face of unfavourable headwinds, both domestically and in the global oil market. I believe that we have done so admirably. So now, the t ...

Benedict Peters - Aiteo Group


Posted 2 years agoOpinion > Aiteo GroupCFONigeria +2

Aiteo Group appoints Global Group Chief Financial Officer

LAGOS/LONDON, 5 OCTOBER 2017: Aiteo is pleased to announce the appointment of Mr. Bruce Burrows as Global Group Chief Financial Officer ("CFO") with effect from 18 November 2017. He will report to the Executive Vice-Chairman, Global Group Aiteo. Bruce brings a wealth of experience from different pa ...

Benedict Peters - Aiteo Group


Posted 2 years agoPress > AiteoBenedict PetersNigeria +3

All You Need to Know About Benedict Peters – Nigeria Profile

I write quite a bit about leading energy figures in the oil and gas world in Nigeria. Last week I did a profile of Arthur Eze , the bombastic prince of Oranto's sprawling oil network. I don't believe that these visionaries get the credit they deserve so I want to make a point of drawing attention ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 2 years agoOpinion > Benedict PetersAiteo GroupNigeria +5
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