Spencer Onosode Moves from CEO to Chairman of Pillar Oil - Africa’s premier report on the oil, gas and energy landscape.

Spencer Onosode Moves from CEO to Chairman of Pillar Oil

Spencer Onosode has been named the Chairman of Pillar Oil Limited, the Nigerian E&P independent.

He was, until the appointment, the Managing Director and Chief Executive Officer of the company, which he co-founded.

At Pillar Oil’s next board meeting, in mid July 2024, Onosode will take over the chairmanship of the 5,000Barrels of Oil Per Day, homegrown Nigerian firm, one of the most consistent, producers of small fields in the country, from Jonathan Amakiri (Ph.D), who himself took over from Gamaliel Onosode, the late father of  the new chairman.

A 1984 Bachelor of Arts economics graduate of Baylor University USA, Mr, Onosode has run the company since it won the Umuseti field in onshore western Niger Delta in the historic 2002/2003 marginal field round.

The commencement and conclusion of the first Nigerian Marginal Field Bid Round 2002-2003 was an event which, with the benefit of hindsight, can now be seen as the launch of the Nigerian Independents as a pivotal economic class on the continent.

Until he moved to the Non-Executive chairman’s role, Spencer Onosode was one of the few owner-founders of the marginal field operating companies who had remained in the CEO position.

His successor, as CEO of Pillar Oil, will be named in the next fortnight, company sources say.


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