News
Sinopec second in Fortune Global 500 ranking
The Sinopec Group, Addax Petroleum’s shareholder, moved up a rank to replace Royal Dutch Shell as the world’s second largest company in 2015.
In 2014, it was also the first Chinese company to enter the top three of Fortune Global 500 list, which this year hosts a record total of 106 Chinese companies.
As Sinopec’s largest overseas company, accounting for approximately one third of its overseas production and playing a key role amongst SIPC subsidiaries, Addax Petroleum welcomes this announcement.
Sinopec was ranked behind Wal-Mart Stores (1st) and ahead of Royal Dutch Shell (3rd), China National Petroleum (4th) and Exxon Mobil (5th).
The world's 500 largest companies generated 31.2 trillion US dollars in revenues and 1.7 trillion US dollars in profits in 2014. Companies are ranked by total revenues in their respective fiscal years ended on or before 31 March 2014.
For more information:
- on Sinopec http://www.sinopecgroup.com/group/en/
- on the Fortune Global 500 ranking: http://fortune.com/global500
Training rural farmers on cassava production
As part of its embedded community relations activities, Addax Petroleum partnered with the National Root Crops Research Institute (NRCRI) to train young farmers primarily on cassava (manioc equivalent) production in Nigeria.
In early 2015, 32 farmers (15 women and 17 men) from Akwa Ibom, Imo and Rivers states’ rural areas where Addax Petroleum has its operations, attended a two-week intensive training in Umudike, Abia state.
“APDNL took the decision to support farmers as agriculture constitutes the main occupation of its host communities. The programme is our way of giving back to them” said Emeka Obi, Manager Community Relations at Addax Petroleum Nigeria.
In addition to offering participants a unique opportunity to enhance their economic and social status and lift them out of subsistent farming, the three main objectives of this programme were to:
- train farmers on improved methods of cassava production to increase yield;
- build their capacity to start, manage and own agro-commercial businesses;
- and supply them with improved, high yielding and disease resistant cassava stems.
The training modules broadened farmers’ skills on diversified topics such as site selection, land and planting material preparation, planting methods, management of cassava farm-weed control methods, fertiliser application and harvesting of cassava roots, processing of root crops, herbicide and pesticide application demonstration, soil erosion and improvement /conservation practices, farm record keeping and accounting, and safety standards in agricultural enterprises amongst others.
Participants acknowledged that this learning experience was a stepping stone to become entrepreneurs and transfer the knowledge they have acquired on new farming techniques to their entourage.
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