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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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Power Ministry is yet to address sector's problems, says Reps By Akinola Ajibade



The  Power Ministry is fond of postulating theories that do not translate into power supply to Nigerians, the House of Representatives Committee on Power has said 
Its chairman, Hon. Magaji Da’u Aliyu,said during a 
special interactive session in Abuja that the Ministry has practically not addressed issues that surround the sector in Nigeria.
She said that  the seemingly  unenthusiastic and fire brigade attitude of the Ministry towards power issues each time there is a national emergency is not good enough.
Also, the Permanent Secretary in the Ministry  Nebolisa Anoka who represented the Minister, Abubakar Aliyu,  stated that there was nothing in the presentation to show that the Ministry was solving the problems.
Anoka  listed challenges facing the sector to include low gas supply,  hydro levels, as well as disequilibrium between power generation, transmission and distribution which led to the collapse of the national grid, stressing that the Ministry has been doing a lot in order to solve    the problem.
Respoding to the issues facing the industry, he said that the Ministry of Power recently hosted an emergency meeting with key stakeholders in the gas-to-power value chain, adding that far reaching decisions on the sector were taken taken at the meeting. 
According to him, the challenges “are not entirely predictable, but actions are being taken by the Federal Ministry of Power and other partners in order to resolve the problems in the sector.
He said that the Minisrry would  improve supply of electricity, by generating at least 30 per cent of the product through that means.
Recall that there was a  power play between the former Minister  Power and the late Chief of Staff to the President, Mallam Abba Kyari, a development, which led to the removal of  NBET from the Power Ministry to Finance Ministry.



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