Petralon Energy, a Nigerian oil exploration and production company, appointed Uduak Equere as executive director effective Monday, as the independent producer seeks to capitalise on recent operational gains and position itself for expansion in Africa’s largest petroleum market.
Equere, who joined Petralon as chief commercial officer, will retain that role while taking on group-level responsibilities at the Lagos-based company.
He will also continue serving as an executive director at Petralon 54, a subsidiary focused on the company’s upstream assets.
The appointment comes as Nigeria’s independent oil producers increasingly seek to play a bigger role in Nigeria’s oil and gas sector and compete for assets divested by international majors, including Shell Plc and Exxon Mobil Corp., which have been retreating from onshore operations amid security challenges and regulatory pressures.
Petralon has been among the local firms strengthening their operational capabilities and balance sheets to participate in the sector’s restructuring.
“The past year has seen Petralon advance key milestones across its portfolio, strengthening operational execution, financial position, and institutional foundations,” the company said in a statement Monday.
Equere brings two decades of energy finance and commercial experience spanning equity research, corporate development, and upstream deal structuring. He started his career as an investment analyst at Vetiva Capital Management, where he covered energy equities and appeared regularly on CNBC Africa analysing Nigeria’s oil, gas and power sectors.
At London-listed Afren Plc, Equere worked on asset acquisitions and fiscal optimisation across joint venture projects. He also held roles at Xodus Group Africa, providing petroleum economics analysis for upstream developments, including transactions backed by Africa Finance Corporation.
The executive holds an MBA in finance from Imperial College Business School and recently completed London Business School’s Accelerated Development Programme. He graduated as the top student in economics from the University of Uyo and is a member of the International Association for Energy Economics.
