Oando’s Irune Joins World Energy Council Board
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Dr. Ainojie Alex Irune, the Managing Director of Oando Energy Resources and Executive Director of Oando Plc, has been appointed to the governing board of the World Energy Council’s Nigerian Member Committee. This comes as Nigeria revitalizes its participation in the global energy organization.
The newly formed governing board was officially inaugurated in Abuja on August 7, with Abdulrazaq Isa, co-founder of Waltersmith Petroman Oil Limited, serving as chairman. Dr. Irune, 45, joins eight other prominent figures from academia, policy, and the private sector. Among them is Bala Wunti, the former Chief HSE Officer at NNPC Limited, who has been named the committee’s chief executive. Other board members include Professor Wumi Iledare, Dr. Mustapha Abdullahi, Mrs. Aisha Farida Katagum, Dr. Emmanuel Okon, Dr. Victor Ekpenyong, and Dr. Imamuddeen Talba.
Although Nigeria originally joined the World Energy Council in April 1960, its active involvement subsequently lapsed. The revived committee aims to re-establish Nigeria’s voice in global discussions regarding energy policy, security, investment, access, and the transition to cleaner energy sources.
Dr. Irune’s appointment follows over ten years of leadership in Nigeria’s indigenous energy sector, during which he spearheaded major acquisitions and expanded Oando’s upstream presence. A computer scientist by training, Irune earned his doctorate from the University of Nottingham. He began his career in the United Kingdom, focusing on technology and automotive research for major brands like Nissan, Honda, and Jaguar Land Rover.
Upon joining Oando, Irune served in various key roles across corporate communications, strategy, and upstream operations. He played a vital part in the organizational transition following Oando’s landmark $1.5 billion acquisition of ConocoPhillips’ Nigerian upstream assets in 2014, later serving as Group Chief Strategy and Corporate Services Officer.
A decade later, in 2024, Irune led Oando Energy Resources through the $783 million acquisition of the Nigerian Agip Oil Company from Italy’s Eni. This transaction doubled Oando’s participating interest in OMLs 60, 61, 62, and 63 from 20 percent to 40 percent, marking a significant milestone in the domestic ownership of Nigeria’s upstream sector.
His appointment to the committee coincides with a broader shift in Nigeria’s energy landscape, where local firms are taking over assets previously managed by international oil corporations. This transition brings heightened responsibilities in financing, technical execution, operational efficiency, and asset management.
An advocate for a balanced African energy transition, Dr. Irune frequently speaks on addressing the continent’s energy poverty and industrialization goals. He emphasizes the critical role of natural gas in Africa’s development and champions greater local retention of the wealth generated from the continent’s natural resources.
The World Energy Council consists of member committees from over 100 countries, facilitating global dialogue on energy future. Dr. Irune will serve a two-year term on the Nigerian committee, collaborating with policymakers and industry experts to shape Nigeria’s domestic energy strategy and its role in international energy discussions.
