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How I Almowt Bought Chevron Netherland At 29 - Paddy Adenuga - Business - Nairaland

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How I Almowt Bought Chevron Netherland At 29 - Paddy Adenuga by Xavier9ja(m): 10:38am On Jan 31, 2018
It was October 2013, two years had passed since I had left the family business in Lagos, Nigeria and moved to London, England to start my own oil trading company. My time in the family business, as a director in the telecoms division and upstream oil & gas company was challenging to say the least but engaging and ultimately rewarding. However, I have never felt comfortable with sitting back and getting a golden pass through life. Whilst the easy thing to do was to be a “good boy and good son” and enjoy all the luxuries of being in a family business – I decided that striking it out on my own once again was the best course of action. I’ve always loved the oil & gas business, like many other Nigerians. However, what I love about the business, particularly the exploration and production (upstream) side, was the mixture of strategy, operational capability, technical know-how, politics and business acumen which all had to be married with a gambling spirit and sheer luck to be successful. In my decision to move to London, I decided I would only be in the oil & gas business as long as it didn’t pose a direct conflict to the family’s interests. There is striking it out on your own and then there is just being plain foolish. Luckily for me, I had stopped being foolish by then. The modus operandi of my oil trading business was simple. I kept an office in Lagos with a small team of five to run operations and logistics. I converted one of the bedrooms in my townhouse in London into a study. My team in Lagos under my guidance would get oil trading contracts and I, sitting in London, would either market these contracts to the global oil trading houses to execute in Nigeria on a joint venture (JV) basis or in some instances, I would find the capital to execute the contract from end to end. This formula proved effective and it was good enough to pay my bills and afford me an above modest lifestyle. One of the traits I took from my parents is that I am highly ambitious and find it hard to sit still. There always has to be a new conquest, a new mountain to climb, or, as is the case most times, a new business to go after. Oil trading was my day job but was never exciting to me except for when I got paid. After days and weeks in London plotting my next move, I came up with an idea and a plan. In the world of upstream oil & gas, especially in Africa, companies that were operators, actively producing oil & gas in commercial quantities that wanted to invest or participate in the oil business were the darlings of the industry. They were like the prettiest girl in high school and every guy wanted her to come to the prom with him.

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