Oando PLC, one of Africa’s largest integrated energy solutions providers with a rich heritage, is currently seeking an Economist to join their dynamic team in Lagos, Nigeria. Oando has a robust presence in the energy sector, focusing on petroleum products marketing, supply & trading, exploration and production, and gas distribution. This is a unique opportunity for professionals with a background in economics, petroleum, or related fields to influence strategic decisions and contribute to sustainable energy solutions. If you’re passionate about economics and eager to make an impact in the energy industry, Oando PLC invites you to apply for this exciting Economist position.
About the job
Reports to: Assistant Manager, Economics
Job Purpose
The Economist will assist the Economics department in providing sound, efficient, and commercially robust analysis for strategic decision-making. The individual will support in economic evaluations of projects, and new business opportunities as well as periodic and ad-hoc re-evaluations of current assets. The Economist will also be expected to undertake tasks including but not limited to operations performance monitoring, tracking commodity prices, monitoring current events relating to the E&P industry, industry/market analysis & intelligence, trend/competitor analysis, and preparation of briefing documents. The Economist is expected to possess the ability to understand and develop relatively complex models, understand Nigerian fiscal regimes, and assimilate a confident understanding of OER’s business and strategy. As the Economist develops in skill and experience, the role is expected to evolve from a supporting role to a more autonomous role which will entail direct responsibility for specific assets or opportunities.
Job Specification
- Undergraduate degree in petroleum disciplines or business/economics or other relevant fields from a reputable University
- A postgraduate degree in economics, petroleum, or energy-related disciplines would be an added advantage
- One degree level (either undergraduate or postgraduate) must be in Economics
- 3-5 years post-NYSC experience in an operator environment (e.g. Economics & Planning); or a strongly numerical and analytical role in Finance or Asset Management
- Talented, creative, and with a strong interest in Business
- Basic understanding of petroleum economics and Nigerian fiscal terms
- Proven competencies in using Excel, Word, and PowerPoint software programs
- Ability to understand and structure complex models and transactions, and to learn job-specific software
Major Responsibility Area
- Support the Economics department by providing analysis, sourcing data, preparing presentations & reports as required
- Update and develop models for commercial evaluation and decision analysis, as well as scenario and sensitivity analysis to assess various investment opportunities
- Assist in evaluating potential assets to ascertain viability for acquisition/divestment and merger targets
- Conduct comprehensive economic analysis to evaluate the profitability/viability of projects, including production optimization and cost management strategies
- Generate in-house forecasts of relevant commodity prices and rates for internal planning purposes and decision basis
- Analyze fiscal regimes and regulatory frameworks relevant to the company’s operations, to assess their impact on business operations & profitability
- Track individual asset performance against budget and operational plan, and analyze production data and performance metrics to identify opportunities for enhancement in asset management
- Monitor commodity prices and industry & market trends.
- Update market information when required and contribute to reports on trends in the oil & gas industry and OER operations performance.
- Conduct specific topical research and analysis as required.
- Comply with approved decision-making and monitoring systems, processes, procedures & policies and ensure effective controls are adhered to in handling job duties.
- Support the origination, closing and ongoing management of transactions.
- Other duties as assigned
Core Competencies
- Strong numerical & analytical skills
- Detail-oriented with strong organizational skills
- Networking & Relationship Management
- Business performance monitoring and reporting
- Initiative and a keen/acute sense of judgment, decisiveness, and self-discipline
- Creativity and innovation
- Ability to work independently and collaboratively in a team
- Excellent verbal, written & visual communication abilities
- Basic understanding of oil & gas industry dynamics
Key Performance Indicators
- Quality, comprehensiveness, timeliness, and accuracy of data provided for analysis
- Quality and depth of analysis
- Accuracy and timeliness of output for decision-making and meeting statutory reporting timelines
- Creativity and innovativeness
- Initiative and enthusiasm, constant self-improvement
- Adherence to policies, processes, and procedures
Click here to apply