Orient Petroleum Assets Set For Inventory Exchange
Orient Petroleum Resources Plc, the indigenous firm presently building the first personal refinery within the nation, has concluded preparations to the quoted on the Nigerian Inventory Alternate.
When listed, the company can be the primary petroleum and refining firm to be quoted on the stock alternate. The other quoted corporations within the petroleum section are product entrepreneurs.
In direction of the listing of the company on the stock exchange, a administration workforce of Orient Petroleum Assets met with the leadership of the Nigerian Inventory Exchange final Wednesday, Could 21, 2008. Orient Petroleum was led to the assembly by the Engineer Nnaemeka Nwawka, Managing Director/Chief Govt Officer, whereas the Nigerian Inventory Exchange was led by Mr. Uzoma Henry Onyekuru, general manager and head of the emerging market/special tasks division, who stood in for the Director-Common, NSE, Prof. Ndi Okereke-Onyiuke.
Talking on the end result of the meeting, Mr. Onyekuru mentioned the listing of the Orient Petroleum was imminent, describing it as “a very good thing.”
He mentioned that Orient Petroleum what does a petroleum engineer do daily was building “a really huge refinery close to the oil blocks in Anambra State” and would operate as an upstream firm and refinery. He confirmed that Orient Petroleum could be the first oil producing firm to be listed on the stock alternate. He stated that private placement for the shares is on and being handled by UBA Global Markets Limited.
Engineer Nwawka, MD/CEO of Orient Petroleum, expressed delight at his companys plan to be listed on the stock alternate. He stated that Orient Petroleum was creating a novel and a patriotic alternative for Nigerians to turn out to be masters of their future by proudly owning Nigerias oil enterprise.
The managing director underlined Orient Petroleums responsive company accountability method to interplay with the communities and assured that highest potential ranges of environmental security would be utilized.
He said: “We finances no less than three percent of our turnover every year for group wants. We even have a five-point group relations strategy that is predicated on the need of the people.
“Furthermore, dont forget that our chairman, Chief Emeka Anyaoku, can be the president of the Worldwide Foundation for Nature, which takes care of the environment globally. So you can perceive our stage of care.”
Development work on the Orient Petroleum refinery, in Nsugbe-Umuleri, on the financial institution of Anambra River, Anambra State, is in progress. The 55, 000 barrel per day refinery is anticipated what does a petroleum engineer do daily to gulp a whopping $660 million.
A foremost engineering company, Beijing Petrochemical Design Institute, is dealing with the refinery, which is anticipated to start manufacturing early next yr.