Barr. Kingsley Ikpeawujor
Oil source Limited is a Company incorporated under the laws of Nigeria on the 29th of March 2001 with RC no. 406783 and the objectives for which the Company is established are:-
To act as Oil installation experts, the function of which include the construction of access roads, float stations and concrete work on oil pipe-lines and to engage in the business of Petro-chemical as well as act as Agents and representatives of National and International oil companies and to appoint own Agents and factors for the same purpose.
To establish, operate, manage and’ operate Petrol Station throughout Nigeria and pursuance thereto carryon the business of distribution and sale of Petroleum products, Lubricants, Oils, Power, Gas and all kinds of business ancillary connected with petroleum and petro-bye products.
Oil Source Limited continues to grow every day, thanks to the confidence our clients impose in us. We cover many industries such as oil, gas, energy, business services, consumer products.
To carry on all or any of the business of general dealers, merchants, buyers, sellers, manufacturers, importers, exporters, distributor builders, suppliers and shippers and dealers in merchandise and produce of every description.
To participate in, undertake, perform and carry out all kinds of commercial, industrial, trading and. financial operations and enterprises, to manufacture, establish and maintain organization for the purchase, sale, distribution, advertisement or Intro duction of products, merchandise, goods, wares and commodities of every description, and to carry on all or any of the foregoing businesses, operations or activities in Nigeria or elsewhere throughout the world.
To acquire all types of machinery and machines for testing, repairing, servicing, reconditioning, overhauling vehicles, tractors, injector pumps, nozzles and all other types of equipments ancillary thereto or in connec tion therewith. Supply of goods of all types, food, furniture and equip ments petroleum contracts of all kinds; whether constructional, structural or others.
To carry on business as general contractors and engage in other duties including roads, drains, culverts, electrical works, house construction and haulage, tar sparing and asphalt contractors, cleaners and dredging contractors and as builders, plumbers, painters and decorators.
To purchase or sell, take or lease, take or give in exchange or give in exchange or on hire, or otherwise acquire ,grant, hold or dispose of any estate or interest in any lands, building easements, concessions, machinery, copyrights, or licenses or any other real or personal property or any right, privilege, option , estate or interest.
To sell, lease, let on hire, improve, manage, develop, mortgage, dispose of, turn to account or otherwise deal with all or any of the property and rights and undertaking of the company for such consideration as the company may think fit.
To erect, build, construct, alter, improve, replace, remove, enlarge, maintain, manage, control, or work any rail way, tramways, road, canal, ducks, locks, wharves, stock, buildings, shops, factored, work, mills, plant or machinery necessary for the company’s business, or to join with others in doing any of the things aforesaid.
To borrow or raise or secure the payment of money for the purpose of or in connection with the company.
To mortgage and charge the undertaking and all or any of the real and personal property and asset, present or future and all or any of the uncalled capital for the time being of the company, and to issue at par or at premium or discount, and for such consideration ,and with and subject to such rights, power, privileges and conditions, as may be though fit, debenture or debenture – stock, either permanent or redeemable or repayable, and collaterally or further to secure any securities of the company by a trust deed or other assurance.
To remunerate any person, firm or company for services rendered or to be rendered, or in placing or assisting to place or guaranteeing the placing of any of the shares in the company’s capital, or any debentures, debenture, stock or other securities of the company or in or about the information or promotion of the company or the conduct of its business.
Upon the issue of any share to employ brokers and agents and to pay underwriting commission to or otherwise remunerate by shares or options to take shares or by debentures, debenture-stock or other securities , personal subscribing for shares or procuring subscription ,for shares.
To take or other acquire and hold shares, debentures, debenture-stock or other securities in any other company having objects altogether or in part similar to those se of this company or carrying on any business capable of being conducted so as directly or indirectly to benefit this company.
To promote, establish, provide, contribute to, assist, subsidize, or manage any super-annulations or pension fund deferred annuity life assurance, profit sharing, share investment, or other schemes for the benefit of employees or ex- employees; directors or ex – directors, of officers or ex- officers of the company or any subsidiary or associated companies or to the dependant of any such persons, and to make payments toward insurance, and to lend money to the company’s employees to enable them to purchase shares of the company, and to formulate and carry into effect any scheme for sharing the profit of the company with employees, officers or directors or any of them
To distribute any of the property of the company among its members in speckle.
To do all or any of the above things either as principal or agents and either through agents, trustees, or otherwise, and either alone or in conduction with other, and either absolutely or conditionally. To do all such other things as may be deemed legally fit.
Based on the forgoing, Investment in the Nigeria Oil and Gas is a decision in the right direction.