Aradel Holdings reveals plans to list on Stock Exchange, reaffirms commitment to develop host communities
Aradel Holdings, a fully integrated energy group with interests in multiple oil and gas assets, has revealed plans to list on the stock exchange.
Speaking at a Town Hall event in Port Harcourt to unveil the company’s new brand identity, Mr. Adegbite Falade, Managing Director and CEO of Aradel Holdings said, “Aradel represents both our rich past heritage and our bold and exciting future. When the company was started, the dream of our founding fathers was for the everyday Nigerian to own part of this company.
“To achieve that dream, we must put Aradel on a platform that allows this aspiration to happen. Consequently, we are on a journey to listing on the stock exchange, and changing our name is one of the critical parts of this process,” he said.
Speaking further, he noted that Niger Delta Exploration & Production Plc (NDEP) rebranded to Aradel Holdings to better reflect its long-term strategy of becoming Africa’s leading organisation in the delivery of sustainable energy solutions that support economic growth.
“The new brand identity reiterates the company’s commitment to host communities, innovation, growth, and sustainability,” he said.
“Aradel Holdings will continue to focus on exploration and production, as well as invest in renewable energy and other emerging technologies to further diversify its investment portfolio to ensure long-term strength.
“As Nigeria’s foremost integrated oil and gas Investment Company, Aradel Holdings has been a significant player in the industry, the company’s decision to rebrand is a strategic move that supports its vision to be a leading company delivering sustainable energy solutions. The new brand is reflective of its rich history and heritage as well as its future portfolio aspirations,” Falade noted.
In his remarks, His Imperial Majesty, Eze Kelvin Anugwo, Ekpeye Logbo, III, Ekpeye Ethnic Nation, said, “We are here to celebrate another milestone of this company. As we can see today, the company is growing to a stage where it can be referred to as an IOC one of these days. It is an indigenous company made up of Nigerians and they are proving that we can do what expatriates can do. In areas of community development, they have done extremely well because we have not heard of where they have issues with the community. For them today to have rebranded to Aradel means they are growing and as the Monarch of Ekpeye ethnic nation, I am standing here to assure them that Ekpeye is solidly behind them.”
As a parent company, Aradel consists of subsidiaries that includes Aradel Energy Limited (formerly known as Niger Delta Petroleum Resources – NDPR), Aradel Gas Limited (formerly known as ND Gas Limited) , and Aradel Refineries (formerly known as ND Refineries). Aradel is also a significant equity holder in ND Western – an SPV that acquired the divested 45 per cent Participating Interest in OML 34 in 2012.
