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Tag: SEGUN Adebutu

  • Nigeria: Barkindo, Kachikwu, Adebutu, others for Oil & Gas Summit

    How can Nigeria Oil and Gas industry be effectively harnessed towards national economic development and individual prosperity?
    This has however informed a four-day
    Nigerian Oil and Gas Conference and Exhibition starting on Monday, 2nd to Thursday 5th of July in Abuja with the theme; Driving Nigeria’s Oil & Gas Industry Towards Sustained Economic Development and Growth.
    The Chairman and Chief Executive Officer of the Petrolex group, Segun Adebutu will speak on the sub-theme; Harnessing the Opportunities in Nigeria’s Downstream Sector at the forum which will have over 700 industry professionals, including key stakeholders from both the public and private sectors in attendance.
    Expected dignitaries include the Secretary-General of OPEC; Dr. Sanusi Barkindo, honourable Minister of Petroleum Resources; Dr. Ibe Kachikwu, and the Group Managing Director of the NNPC, Dr. Maikantu Baru.
    The forum for International Conference Centre (ICC), Abuja, has been described as a viable avenue for networking, sharing ideas, and exploring new opportunities and innovations in the industry.
    According to the CEO of Petrolex, Segun Adebutu, the company is a Gold sponsor featuring the annual NOG Awards Ceremony on July 25 will be co-hosted.
    “As an integrated energy company, Petrolex remains committed to redefining Africa’s energy landscape and providing innovative energy solutions. We are glad to showcase this at the 17th Nigerian Oil and Gas Conference and Exhibition. We also look forward to interacting with other critical stakeholders and having a robust discourse at the conference.  As an emerging leader in the oil and gas sector, the NOG presents the appropriate platform for us to exchange ideas and synthesize new innovations,” Adebutu said.
    Petrolex has emerged to be one of the leading players in the Oil and Gas industry, especially the downstream sector. CEO, Segun Adebutu was listed among Businessday’s 50 most influential Nigerians for the year 2017.
    Petrolex’s legacy investment is the mega oil city, which contains the largest tank farm in Sub-Saharan Africa. The first phase of the project has been completed and commissioned. It is the 300 million litres mega tank farm, consisting of twenty 15 million litre storage tanks. The tank farm has 30 loading gantries with a scheduled truck loading and fuel management system, and a 4000-truck capacity trailer park for efficient loading. To supply the facility and ensure ease of distribution, a jetty has been constructed and vessels moored. Petrolex is also set to build a 250,000-bpd capacity refinery, which will be the second private refinery in Nigeria.
  • Petrolex oil city project to reduce Apapa gridlock – Adebutu

    Petrolex oil city project to reduce Apapa gridlock – Adebutu

    A leading energy conglomerate, Petrolex Group, has commenced moves to drastically reduce the traffic gridlock at Apapa area of Lagos by at least 60 per cent.

    Apapa is home to two of Nigeria’s busiest seaports, several tank farms and numerous companies.

    The firm will on Tuesday commission the first phase of its Mega Oil City at Ibefun, Ogun State.

    The project, according to a statement by the company, would also transform Nigeria’s energy landscape significantly.

    “As a solutions-driven company, we are positioned to drive increased efficiency and consistent value creation across the West African downstream oil and gas value chain through our strategic investments and the delivery of superior quality products and services.  Working with our diverse stakeholders, the successful completion of the first phase of our mega oil city in Ibefun, Ogun State, demonstrates our disciplined approach to project management and signposts our ability to execute large-scale energy development projects that will move the region forward,” the statement quoted Segun Adebutu, Chairman/CEO of Petrolex Oil and Gas Limited, as saying during a media tour of the site.

    “I lived in Apapa, I had to pack out one day when there was a gas build-up in one of the barges and it exploded and shattered glass in my house. I grew up where there were palm trees and we could ride our bicycles about and within the space of a decade, we spend one and half hours to even get out of Apapa. The infrastructure in Apapa was for residential and partly commercial purposes, not for the traffic it is facing now.”

    He said the congestion and attendant distribution problems require immediate solution.

    The Petrolex Mega Oil City project is a legacy investment valued at over $330million dollars by PricewaterhouseCoopers (PwC).

    The tank farm located in the Oil City has the capacity to turnover 600 million litres of petroleum products every month and transform Nigeria’s petroleum products storage and distribution by catering for about 60 percent of in-country need.

  • Petrolex to launch sub-Saharan Africa’s largest tank farm

    Petrolex Oil and Gas Limited will launch its ultra-modern tank farm on December 12 at Ibefun, Ogun State.

     The project is part of Petrolex Mega Oil City, designed to revolutionise Nigeria’s oil and gas landscape.

    “A first of its kind in sub-Saharan Africa, the 300 million-litre tank farm will be commissioned by Vice President Yemi Osinbajo.

    It has the capacity to turnover 600 million litres of petroleum products every month, enabling products to be stored and distributed effectively and more efficiently.

    The facility is expected to create over 10,000 new direct and indirect jobs, improve throughput capacity for distribution of petroleum products by over 500 per cent, whilst Petrolex’s extensive social investment programme is expected to impact over two million lives and maintain a very healthy balance with the environment,” the company said in a statement on Thursday.

    Equipped with state-of-the-art technology, the facility is set to decongest Apapa and Ibafo tanker traffic by 60 per cent, thereby eliminating hazards associated with storage and transportation of petroleum products in those areas.

     “As a solutions-driven company, we are positioned to drive increased efficiency and consistent value creation across the West African downstream oil and gas value chain through our strategic investments and the delivery of superior quality products and services.  Working with our diverse stakeholders, the successful completion of the first phase of our mega oil city in Ibefun, Ogun State, Nigeria demonstrates our disciplined approach to project management and signposts  our ability to execute large-scale energy development projects that will move the region forward,” added Segun Adebutu, Chairman/CEO of Petrolex Oil and Gas Limited.

    To facilitate the achievement of its strategic goals, Petrolex has 16 barges, eight tugboats and a 30KT vessel.

    In addition, Petrolex Mega Oil City has a residential quarters, army barracks, 30 loading gantries, gas processing plant, and a 4000-truck capacity park with accommodation for drivers.

    The tank farm is highly accessible through land and waterways; with easy access from the Atlantic Ocean.

    Its proximity to the Lagos market, and easy accessibility to the Northern and Eastern parts of Nigeria gives it a strategic advantage, as customers can load their products in unprecedented time and avoid delays.

     

  • Segun Adebutu in his father’s shoes

    Segun Adebutu has been proving that generosity is something that runs in his blood. Like his father before him, the boss of Petrolex Oil and Gas is fast making a name for himself as a deep-pocketed humanitarian with serious commitment to making the lot of the less-privileged better.

    The son of the famed boss of Ijebu Lotto, Sir Kessington Adebutu, has been redefining philanthropy in the country through his NGO, Oladiran Olusegun Adebutu (OOA) Foundation. Since it was established last October, it has executed several projects running into millions of naira and benefiting mostly orphans and indigent youths who are being given a second chance at a useful life through the foundation’s activities.

    But just as the road to hell is paved with good intentions, the highway to heaven is also marked with misunderstanding. Many, especially those who are envious of the young man’s giant strides, have interpreted his generosity as a calculated way to buy the masses’ loyalty ahead of a future entry into politics.

    Close pals of the CEO/ Managing Director of Blue Bridge Global Resource Limited and Oladiran Engineering and Trade Nigeria Limited have however dismissed these claims as the handiwork of those people who are hell bent on maligning his good name.

  • Segun Adebutu’s invests in record label

    Segun Adebutu’s invests in record label

    SEGUN Adebutu is a wealthy scion of the Kessington Adebutu dynasty. The CEO of Petrolex Oil and Gas, who is also a board member at Premier Lotto Nigeria Limited, has been investing heavily in the Nigerian entertainment industry. His investments in entertainment berthed with the birth of a music record label, Baseline Records. While he owns the record label, Adebutu engaged the services of Howie T and Abdul of the Kiss Management Company to manage it on his behalf. Recently, the billionaire coughed out N250m for Baseline’s new signings, Saeon and Skales, after already investing more than N200m to kick-start the label.