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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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Niger Delta: NSCDC destroys five illegal refineries, arrests workers

Niger Delta: NSCDC destroys five illegal refineries, arrest workers

Illegal refinery site.

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By Akinola Ajibade

Five illegal refineries producing adulterated petroleum fuel was discovered in the Delta South Local Government Area recently.

The refineries are believed to have distributed the contaminated petroleum products to unsuspecting consumers in the Niger Delta region and beyond. 

The Commandant General’s Special Anti-Vandal Monitoring Unit (SAVMU) of the Nigeria Security and Civil Defence Corps (NSCDC) made the arrest, while at the same time, dislodged the refineries.

Confirming the issue, the Director Public Relations, NSCDC, Olusola Odumosu, said that operation was carried out successfully, following a tip off on the nefarious activities of vandals and oil thieves operating a very big camp with about five illegal refineries in the area.

According to him, two suspects were nabbed during the operation while other collaborators remained at large.

The intelligence report however, revealed that the site belongs to three individuals which consist of one woman and two other men currently in NSCDC custody and are volunteering information to assist in carrying out further investigation.

Also, the Squad Commander, DCC Brah Umoru Samson, who led the operation, assured Nigerians that the SAVMU will not condone any act of sabotage to the economy and therefore, warned all illegal operators to engage in legitimate business that will not contravene the law or compromise the safety of Critical National Assets and Infrastructure in the country.

 

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