Independent oil and gas exploration and production company Tullow Oil has named Roald Goethe as its new independent non-executive Director.
With vast experience as an oil and gas executive, Goethe brings extensive commercial knowledge of the energy industry in Africa including business development, M&A, and in oil markets, specifically hedging, financing and trading, Tullow said in its statement.
In 1994 he joined Trafigura Group as an executive where he had an integral role in the development of the group’s oil trading activities, primarily in West Africa. In 2006 he founded his own company, Delaney Petroleum, trading crude oil and petroleum products predominantly with West Africa and the Middle East. He then returned for a three year term with Trafigura Group in Geneva and remained an advisor at the company until the end of 2021, Tullow’s statement reads.
The company further noted that Goethe is a long-term supporter and shareholder of Tullow, holding some 22 million shares. According to the company, Goethe is familiar with Tullow’s strategy and is aligned with its commitments as a trusted partner to its host nations in Africa.
Goethe will stand for re-election to the Board at the Annual General Meeting planned in May 2023, the statement reads.
“I am delighted to welcome Roald to the Board of Tullow. He has proven skills as a business builder in Africa, with valuable practical experience in country on matters such as financing, trading, and resolving complex commercial issues. He has an excellent understanding of Tullow’s business and vision, and he will provide a unique commercial and entrepreneurial perspective to Tullow’s Board, which will help us to pursue our long-term strategy,” Phuthuma Nhleko, Chairman of Tullow Oil, said.