Skip to main content

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...
Post a Comment

EEDC arrests vandal, vows to end the menace

EEDC arrests equipment vandal, vow to end the menace 

By Akinola Ajibade 

A middle -aged man, Solomon Igwe, was arrested
by security operatives for vandalising  one of the transformers, which aid supply of electricity to homes and offices in  Enugu, capital of Enugu state.
Igwe, in his 30s, was apprehended recently, at the Thinkers Corner area of the city. 
The equipment, he allegedly tampered with , supplies power to a guest house located in Thinkers area of the city.
Owned by the Enugu Electricity Distribution Company ( EEDC), the facility and others are  believed to be of immense benefits to the utility company, whose infrastructure has either been stolen or vandalised in recent times.
Investigations reveal that Igwe  carries out the dastardly activities with other members of his team. 
Igwe's partners in crime( two) were lucky to evade arrest, when  the incident happened as they ran away. 
Their tools and Jerry Cans, findings have shown, 
were at the scene of the incident, after Igwe was arrested.
Igwe, upon investigation, gave the nàmes of his fleeing gang members as Sunday and Onyema, while that of their sponsor is Onyedia Obasi, aka Bishop.

The EEDC's Head of Corporate Communication, Emeka Ezeh, confirmed this in statement, that  Igwe  has been handed over to the Police Area Command, Enugu, for further investigation and possible prosecution, adding that the police has vowed to arrest other gang members soon.

This arrest is coming, weeks after the firm  lamented about the rates at which electricity installations within its network are being attacked by vandals..

Recall that the company has recorded several cases of  vandalism, especially subsubstations, a development, which has worsened the operation of the firm.

While commending the effort of the Security Guards in apprehending the suspect, EEDC calls on its customers to be more vigilant in ensuring that electricity installations sited within their neighborhoods are protected against attacks by these criminal elements in the society, and save themselves the stress of being out of power supply.

The company’s spokesman said that the organization has committed millions of Naira restoring vandalized installations, a situation he described as no longer sustainable, especially considering its current financial position.

Comments

Post a Comment

Popular posts from this blog

Manufacturers Are Key To Nigeria's Economic Growth

By Favour Ifeoluwa & Akinola Ajibade  The Nigerian Economic Summit Group (NESG) says revitalisation of the manufacturing sector is key to the growth of the econnmy.  The group expressed this at a pre-summit webinar ahead of the 30th Nigerian Economic Summit, focusing on the theme:“Reversing the Decline: Strategies for Stabilising Nigeria’s Manufacturing Sector.” The event brought key stakeholders together to discuss on how to prevent decline in the manufacturing industry, by examining how current economic reforms impact the sector’s operations. Speaking,Dr. Muda Yusuf, Thematic Lead of the Manufacturing Group, Mr Musa Yusuf, who  represented Engr. Mansur Ahmed, Private Sector Co-Chair of the Manufacturing and Mining Policy Commission (MMPC) Steering Committee, highlighted the significant role of the manufacturing sector in Nigeria’s development. According to him,despite its potential, the manufacturing sector faces numerous challenges such as inadequate in...
Post a Comment
Read more

NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further s...
Post a Comment
Read more

NNPCL Reacts to Dangote’s Claims of Share reduction in Refinery to 7.2%

Dangote  By Favour Ifeoluwa & Akinola Ajibade  The President, Dangote Industries, Alhaji Aliko Dangote says the Nigerian National Petroleum Company Limited (NNPCL) presently owns 7.2 percent of the refinery over failure to pay the balance of their share, which was due in June thereby reducing it from 20%. He said that NNPCL’s stake dropped to 7.2% over the company’s failure to pay the balance of its share, which was due in June. The 20 percent interest in the $20bn refinery is valued at $2.76 billion. In his words, “NNPC no longer owns a 20 percent stake in the Dangote refinery. They were met to pay their balance in June, but have yet to fulfill the obligations. Now, they only own a 7.2% stake in the refinery.” But in a swift reaction,  Dangote's Corporate Communication Officer, Femi Soneye,said: "We made a commercial decision to cap our investment at the amount already paid”   the NNPC’s equity in the refinery is now 7.5 percent as against 20 pe...
Post a Comment
Read more