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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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Blackout imminent, as grid suffered collapse again By Akinola Ajibade

Nigeria, yesterday, suffered a nationwide blackout, as the national electricity transmission system popularly known as grid suffered total collapse.

This happens 56 days, after the national grid collapsed on April 8th, this year, a development, which has thrown the country into darkness.

The News Mirror, reports that the latest  collpase, which rocked the country on Sunday evening, was the fourth time within the space of 90 days, and the fourth in 2022, the last being on 8th April 2022.

The nation recorded the first two collapses on March 14 and 15 2022 respectively.

An official in the generation sub-sector, who spoke under cover said that the nationwide outage began around 6pm as the generation from various power plants dipped.

“We experienced a grid collapse this evening around 7.00pm 18:49, said the official.

Power generation, findings showed was 1,353.80 megawatts (MW), generated by 13 GenCos shortly before the system crashed, as at evening on Sunday.

The grid has up to 24 active Gencos on the grid, but even from the 13 GenCos on Sunday evening, only Delta (Ughelli) GenCo did up to 371MW; Rivers IPP had 156MW, Omotosho did 130MW, Olorunsogo did 128MW while the other nine GenCos did not generate up to 100MW.

Sadly, the baseload GenCos which are the three hydropower plants that guarantee stable electricity were affected.

While Kainji had 51MW, Jebba had 88MW and Shiroro was down, some 45 minutes before the national grid collapsed.

Reports from the Nigeria System Operations, a section of the Transmission Company of Nigeria (TCN) and grid manager, indicate that there has been a lull in power generation.

The highest generation on Saturday was 3,685MW, also being the highest electricity generated in Nigeria for a week (since Sunday 5th June).

As at the time of filing this report, TCN was yet to officially issue a report on the remote and immediate cause of the grid collapse. But an official told this paper that the restoration process had intensified with power being restored to Abuja and some states, first.


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