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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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Fuel scarcity hits Lagos, Abuja, others . sells N180 per litre


By Akinola Ajibade


Fuel scarcity is bitting harder nationwide, as queues take over major cities such as  Lagos,  Ibadan, Abuja and others.

The News Mirror findings reveal that most roads, especially highways in those cities area are occupy by motorists and passengers, who are  struggling to get fuel for their personal and commercial purposes.

At the various filling stations, visited by News Mirror in Lagos,  passengers formed a long queues, with  jerry cans in their hands and stand for hours under the sun, with a view to buy the product.

In Lagos and Ogun states, it was gathered that most filling stations are besieged with vehicles, in need of fuel.The outlets include those owned by Mobil, Capital, Fatgbems, Enyo, TotalEnergies NNPC and others in the nation's former capital.

Though, they were selling fuel at N165 per litre, many of the  motorists are still finding it difficult to get the product for use.

For instance, there were queues in states bordering Nassarawa and Niger. There were long queues at various filling stations such as the NNPC, Mobil, A.A. Rano, AYA Ashafa, Enyo, among others. Hundreds of motorists besieged the few filling stations that dispensed petrol at various states, spending hours on queues in a bid to buy PMS.

Oil marketers blamed the development on the drop in supply, stating that the demand for petrol was currently higher than what was being provided by the Nigerian National Petroleum Company Limited.

NNPC remains the sole importer of petrol into Nigeria, shouldering this responsibility for more then four years.

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