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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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Scarcity of petroleum products is beyond Nigeria,says MOMAN. By Akinola Ajibade



The Major Oil Marketers Association of Nigeria ( MOMAN), has attributed the current scarcity of petroleum products in the country to global issues, not local,as  many Nigerians were made to understand.
The body, an umbrella association of non-, independent fuel marketers in the country, is made up of 11 Plc, formerly Mobil Nigeria Limited,  Forte Oil, now Ardova , Conoil, OVH( Oando Marketing) , Total Energies Nigeria among others.
In a statement issued, signed and made available to News Mirror, yesterday by the MOMAN's Chairman, Mr Olumide Adeosun, the group blamed the scarcity of petroleum products on  rising prices of fuel at the international level, Russia-Ukraine crises among others,.
He said that the scarcity of specific petroleum products,  especially Aviation Fuel, is having untold effects on that sector of the economy.
This happens as Arik Air, Dana Air and two others pulled out of the planned strike actions, which is being organised by the airline operators in Nigeria
. The decision by the  airlines to shut down flight spaces was to protest the scarcity of fuel, that has become a common feature of the  Nigerian roads. 
Hitherto, the country was greeted by fuel scarcity in the first quarter of 2022, a development, which resulted in trading of accusations over importation of adulterated fuel  between the Federal Government on one hand and the marketers/ concerned stakeholders on the other hand.
Speaking further on the issue, Adeosun stated that Aviation Fuel( otherwise known as JT A1, like other petroleum products used in the country, is not produced in Nigeria. 
He added that the fuel is specific and subjectd to international price movements.
He described the problems as the twin,-shocj of increased post pandemic demand and the on-,, going sanctions against Russia, a major producer of petroleum products.
Adeosun said; "  These shocks have seen international trading. premiums cost of vesel freights and other variables spiking up in recent times with their attendant influence on provision of fuel in the country l 
He further said transport companies, logistics firms, cooking gas users, ( individuals and industrials) are affected by the development.
MOMAN, Adeosun said, understands the plight of Nigerians on the issue of scrutiny of the products and as a result, seeks the cooperation of the generality of the masses on the problem.








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