"We Are Excited": Tony Elumelu Speaks on Decision To Rename Heirs Holdings’ Oil & Gas
- One of Nigeria's leading oil and gas companies, Heirs Holdings Oil and Gas, has decided to rebrand
- The company, founded in 2021 by Nigerian billionaire Tony Eluemelu, promised commitment to sustainable energy solutions
- Heirs Holdings is one of Elumelu's prime assets, including UBA and Transcorps conglomerate
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Heirs Holdings Oil & Gas Limited (HHOG), an indigenous-owned integrated energy company founded by Tony Elumelu, will now be known as Heirs Energies Limited.
The company will now display a refreshed logo colour scheme as it bids to sustainably reinforce the strategy of meeting Africa's unique energy needs, Punch reports.
Source: Facebook
Why is Heirs Holding rebranding
According to a statement from the company, the decision stems from its desire to lead in transforming the energy landscape while creating a lasting, positive impact on the environment.
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The company also said while it will continue oil exploration and production, it plans to leverage emerging technologies to cut carbon emissions by eliminating gas flaring.
The company also said it would invest in gas utilisation projects to harness the abundant energy sources for improved energy access that will drive development on the continent, Vanguard reports.
Tony Elumelu speaks
Speaking on the rebranding, Tony Elumelu, chairman of Heirs Energies, said:
“This new brand identity reiterates our passion for innovation, growth, and sustainability in Africa.
"Heirs Energies signifies our unwavering commitment to environmental responsibility, value creation in Africa, integration across our value chains, while working together with our community towards a shared destiny.
"We are excited to embark on this transformative journey, that will shape the future of the energy sector in Africa.”
Also, Osayande Igiehon, chief executive officer of Heirs Energies, added:
“Heirs Energies embodies our unique intention and approach to the energy sector. Our focus is not only on meeting Africa’s unique energy needs, but also doing so in a sustainable and responsible manner, that aligns with global environmental goals.”
Otedola strikes billion naira deal with Elumelu to exit Transcorp
Meanwhile, in another report, Legit.ng reported that Nigerian billionaire Femi Otedola ended the battle with Elumelu over control of Transcorp Plc.
Transcorp is a diversified conglomerate interested in energy, hospitality, and agriculture.
The mutual agreement saw Otedola receive a payout of N32.5 billion two weeks after spending N6 billion to acquire 2.6bn shares.
Source: Legit.ng
