Tag Archives: obat petroleum

Where Is Femi Akinruntan?

This is a question being asked by many friends and admirers of city rocker and the Managing Director of Obat Petroleum, Prince Femi Akinruntan.
The young businessman was the soul of all events and gatherings he walked into in the past, in fact a party does not measure up to what it should be without the presence of the Prince and his retinue of aides and friends who rocked the party scenes with him.
The businessman nicknamed ‘omoba pataki’ first sought a discovery and went on a rigorous diet plan which changed his look.
He later celebrated an unusually low profile 40th birthday and disappeared from the social radar which sets tongues wagging concerning where he is.

Sweet Pact! Obat, Vital Allied Energy seal multi-million Naira deal

Obat Oil and Petroleum Ltd. has just entered into a long term agreement with Vital Allied Energy Supply & Services Ltd, (VAE) to supply 100,000mt of refined product quarterly, with a delivery of 30,000mt monthly. The first tranche of AGO cargo, arrived at Obat terminal in Apapa, within the week and loading activities commenced immediately, upon the discharge of the product into tanks. In view of the high demand for the use of the product in the market, plans are already in progress by VAE, to further increase the monthly volume to meet up with the market demand. The agreement between the two companies is to further strengthen the market supply of AGO, and other petroleum products. However, in order to actualize the supply chain mechanism, Obat Oil, in conjunction with its arm of NUPENG and Petroleum Tanker Drivers, (PTD), entered into a Memorandum of Understanding, MOU, with VAE, to ensure the smooth delivery of the products across the country. OBAT Oil & Petroleum Ltd. is a major marketer in the oil and gas business in Nigeria.  Its resources and strengths have established it as a major provider in the global energy market, while further enhancing its status as a global player in oil trading and related  allied businesses. The management team is headed by the scion of its founder, Prince ‘Femi Akinruntan, the Managing Director and Chief Executive Officer, who has, since mounting the saddle of the MD/CEO, has been taking the company to greater heights, without cutting corners, especially in the volatile business of independent marketing of oil and gas products. This new venture is one of the lofty heights the crown prince and his team has been striving to inch  in the industry.