Sopuruchi Onwuka
Aradel Holdings, the parent company with multiple business portfolios in the full value stream of petroleum industry, has brought in former industry regulator, Mr Osten Olorunsola, to head the board that supervises the management of daughter companies.
The company had at its annual general meeting in May announced the retirement of Mr. Ladi Jadesimi from the position, creating the vacuum which Mr Olorunsola has been brought in to fill on interim basis.
In a social media declaration seen by The Oracle, Aradel stated that Mr. Osten Olorunsola’s appointment took effect from July 9.
The Oracle reports that Aradel, formerly Niger Delta Petroleum Resources (NDPR), holds the reputation as the hub of Nigeria’s finest petroleum industry veterans with diverse operating backgrounds and different experiences. From pioneer Managing Director, Layi Fatona, through the present Managing Director, Adegbite Falade; the company has seen brand modification, speedy growth and play diversification.
Aradel is currently mustering the recognition of the industry, herding together best experiences, providing business models, spawning formidable subsidiaries and now seconding its executives to industry leadership roles.
Just recently, Gbite Falade was just declared the Chairman of the league of mainly indigenous independent petroleum producers that are changing out international oil companies from conventional terrains onshore and shallow water Nigeria.
With a rich pedigree that boasts of tenure as the Director of the defunct Department of Petroleum Resources (DPR), Mr. Olorunsola’s arrival brings more industry experience and a robust business network to the group.
In the statement, Aradel pointed at Olorunsola’s more than 40 years of experience in the petroleum industry, with expertise spanning geosciences, engineering, policy, and regulation.
“His distinguished career includes roles at Agip-ENI, Shell International, and key public sector positions such as Director of Petroleum Resources. He is also a Fellow of the Energy Institute and has been a valued member of Aradel’s board since 2014. We look forward to his leadership as we continue to drive growth and innovation at Aradel Holdings,” the company stated.
It is believed that the experience pool that bases the company’s management and governance systems accounts for its strategic business moves that result in fast inorganic growth and impressive results. The company is one of the very few upstream and integrated independent companies listed on the Nigerian Stock Exchange (NSE).
