Posted on: May 9th, 2017 by Administrator No Comments

Seyi Ajibola
The company continues to grow. Since 2015, our executive board has grown, while some of the contracts we had have wound down because of the state of the economy. We brought in a new director/shareholder last year, which enabled us to do much more in the business and we started to see the results of a deeper executive management. We are now more active in both downstream and upstream activities. The business has evolved and we hope to be as successful as we were last year. Operations in the oil and gas sector have to be better run and people have to be more cost efficient in many areas, including their cost of capital, and be able to live with smaller margins. In some areas depending on the strength of the balance sheet, a company may be able to do a full turnkey service where it actually provides a service in lieu of production, for example. There are different strategies that are evolving as companies are having cash flow difficulties. The upstream sector faces project cutbacks while in the downstream side, demand for petroleum products remains fixed.

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