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Oando Acquires Oil Block In Angola

Oando Plc  Favour Ifeoluwa & Akinola Ajibade  Oando Plc  says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc,  Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
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Imo explosion: Fed Govt orders clampdown on illegal refinery operators


By Akinola Ajibade
The Federal Government is not leaving any stone unturned in order to deal with operators of illegal refineries' in the country, as it launched a clampdown on them.

This happens, as President Muhammadu Buhari yesterday directed the nation’s armed forces, security and intelligence agencies to intensify the clampdown on illegal refineries in the country.

Reacting to the deaths of tens of people who died after an illegal refinery exploded on Friday night at Abaezi forest in the Ohaji-Egbema Local Government Area of Imo State, the President described the incident as painful, adding that it must be stopped once and for all.

Buhari in a statement by his media aide, Garba Shehu, said that the incident is a national disaster, stressing that security agencies should not fold their arms at this trying period in the country.

He maintained that the responsibility for the loss of lives and property must squarely lie with the sponsors of the illegal refinery, who must all be caught and made to face justice.

He urged community leaders, the police, and the secret service to never allow the occurrence of the heart-breaking incident in any part of the country again.


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