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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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South-East and South-South dominate cooking gas' sales in April, says NBS


South-East and South-South dominate cooking gas' sales in April, says NBS 

By Akinola Ajibade

The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG) in the South-Eastern part of Nigeria in the month of April stood at N4, 041.39, the Nigerian Bureau of Statistics has said.
The body, in its latest report, said that the cost of LPG LPG in the region was the highest for the month, followed by the South-South region at N3896.59 and North-Central region at N3835.83 per 5kg cylinder.
Titled, “Liquefied Petroleum Gas Price Watch List April 2022” the report shows that the North-West region recorded the lowest average retail price of LPG for the month at N3572.83 per 5kg cylinder.

According to the report, the average price for refilling 5kg LPG stood at N3800.47 in April 2022, from N3778.30 recorded in March 2022.

The average price for refilling a 5kg cylinder of cooking gas stood at N3800.47 in April 2022, from N3778.30 recorded in March 2022, showing an increase of 0.59 percent month-on-month. However, on a year-on-year basis, the average retail price for cooking gas increased by 83.67 percent from N2069.21 in April 2021”

According to the report, the average price for refilling a 12.5kg cylinder of the same commodity rose to N8164.37 in April 2022, from N7617.71 in March 2022, representing a 7.18 percent month-on-month increase.

As indicated by the report, the South-West, however, recorded the highest price for 12.5kg of LPG. “The average retail price of a 12.5kg LPG cylinder by zones showed that the average retail price was highest in the South-West with N8573.28 followed by the South-South and South-East with N8252.90 and N8240.32 respectively. The North-East Zone recorded the lowest price with N7559.43.” the report read.

The report also showed that the highest average retail price for refilling 12kg LPG was recorded in Oyo, with N8930.88.

“The state comparisons showed that the highest average retail price for the refilling of a 12.5kg cylinder of LPG was recorded in Oyo with N8930.88, followed by Bayelsa with N8916.67 and Ogun, with N8766.67. Conversely, the lowest average price for the refilling of a 12.5kg cylinder of LPG was recorded In Yobe with N6619.18, followed by Borno and Ebonyi with, N6800.00 and N7710.55 respectively

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