Segun Adebutu, CEO of oil and gas conglomerate, Petrolex is currently in Europe meeting with potential business partners to canvass for investment into the Nigerian oil and gas industry. He has recently been spotted in Russia speaking with potential investors.
As at July 10, A Russian news platform reported that the Deputy Energy Minister of the Russian Federation has announced a meeting with Nigerian businessman and CEO of Petrolex, Segun Adebutu for investment into the Nigerian oil and gas industry. According to the report, “Deputy Energy Minister of the Russian Federation Anatoly Yanovsky held a meeting with the chairman and general director of Petrolex Oil & Gas Ltd, Segun Adebutu.
During the event, the parties discussed Russian-Nigerian cooperation in the oil and gas sector. The Nigerian side requested assistance in attracting Russian companies to develop two fields, including with regard to their financing.
Following the meeting, an agreement was reached that the partners will send clarifying materials for further study with interested Russian companies. This fact is easily verifiable via this link
In recent times, Petrolex has emerged to be one of the leading players in the Oil and Gas industry, especially the downstream sector. Petrolex CEO, Segun Adebutu has also been listed among Businessday’s top 50 most influential Nigerians for the year 2017.
Petrolex’s legacy investment is the mega oil city at Ibefun, Ogun state, 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.
Besides being an astute businessman, Segun Adebutu has also made indelible contributions to the lives of countless people through his business and his foundation. Through his Oladiran Olusegun Adebutu Foundation(OOAF), he has adopted over 400 children and sponsored them to school.