First Bank named 2019 oil and gas banker

First Bank of Nigeria has been named the 2019 oil and gas banker of the year.

The bank, which was established in 1894, received the award at the patrons’ dinner and industry awards of the Nigeria International Petroleum Summit that held recently at Transcorp Hilton in Abuja.

The four-day event, which comprises conference and award dinner, is regarded as the government’s official gathering for the petroleum industry.

Speaking on the award, Adesola Adeduntan, the bank’s chief executive officer, said, “we take pride in this recognition, as it represents the nation’s identification with our leading role in promoting the growth of the oil and gas industry.

“We remain steadfast on being the financial partner of first choice to Nigerians and indeed across Africa as we collectively strive towards the continued growth of the economy at large.”

The summit boasted of an estimated 5,000 attendees from 43 countries.

They include Sun Xiansheng, secretary-general of the International Energy Forum (IEF); Jean-Marc Thystère Tchicaya, Congo’s minister of hydrocarbons; Omar Farouk Ibrahim, OPEC governor for Nigeria; Jens FrolichHolte, Norway’s state secretary for international development in the ministry of foreign Affairs; Carri Lockhart, senior vice president for portfolio and partner Operated Development and Production International Equinor; Gabriel Mbaga Obiang Lima, Equatorial Guinea’s minister of mines and hydrocarbons and Magda Chambriand, former CEO of Brazil’s National Agency of Petroleum Natural Gas and Biofuels.

First Bank said it provides financial services to the oil & gas value-chain through advisory/agency services, acquisition finance/reserve-based lending to indigenous oil producing companies, trade finance for crude oil export and refined product import and contract finance for oil service companies ranging from simple hospitality to complex turnkey engineering, procurement and construction.