Nigerian downstream oil and gas company, Eterna Plc, has revealed its plans which include expanding its retail footprints to the marketing of Aviation Turbine Kerosene (ATK) otherwise known as aviation fuel, and Liquefied Petroleum Gas (LPG) popularly called cooking gas.
This is a part of its effort to provide energy solutions in efficient and innovative ways while continuing the trajectory of its 5-year strategic plans.
The Company stated this during its 29th Annual General Meeting, AGM, in Lagos, guaranteed its shareholders improving performance and returns on their investment in the years ahead.
The AGM is the first after the emergence of the new majority core investor in the fourth quarter of 2021, Preline Limited, which acquired a 60.98 percent stake in Eterna, making it the largest and majority shareholder.
With this new development, the board and management of Eterna Plc have assured shareholders that despite the global challenges faced by the industry, there is hope for growth and a better future outlook for the company.
The Chairman of the company, Dr. Gabriel Ogbechie in a statement “We will begin to incrementally improve our involvement in the aviation space with the retail of aviation turbine kerosene. We will invest in liquefied petroleum gas and incrementally set up the necessary infrastructure for market penetration.
“We have also introduced various initiatives targeted at enhancing market presence, growing volumes, and local brand equity for our lubricants. In relation to new businesses, we have commenced discussions with some potential strategic partners with a view to exploring opportunities in identified growth areas within the energy space.”
