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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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Global energy consumption will rise to 60 per cent by 2045

Barkindo, Late 0PEC's Sec Gen

The STORY EMANETED FROM HIS LAST PUBLIC OUTING IN NIGERIA. REST IN PEACE, 

By Akinola Ajibade

The Secretary-General, Organization of the Petroleum Exporting Countries (OPEC), H.E Mohammad Sanusi Barkindo on Tuesday said that the demand for energy globally will rise to 60 per cent by 2045 as projected.

He stated this at the official open of this years’ 2022 Nigeria Oil and Gas (NOG) Conference with the theme “Finding the Nigerian Energy Mix for Sustainable Economic Growth” in Abuja.

According to him, the world will continue to consume oil and gas for the foreseeable future.

Barkindo attributed this effect to the rising population and economic growth, noting that global population will foresee rise to about 20 percent of beginning from now to 2045 as projected amounting to about 9.4 billion people in the universe while the rate of the global economy doubles by 2045 which also is projected to about 125 trillion US dollars using the 2017 purchasing power point.

“This world will continue to tasty for energy, will continue to tasty for oil and gas as a result of combined effects to increase demand in energy. Oil alone is project to grow by 28 percent between now to year 2045. It is ill-advised for anyone to suggest that to achieve our climate target of global temperature rises at 1.5 degree sensuous agreed in Paris that oil and gas should be discontinued. This is unscientific and unsupported by fact.” he stressed.

Secretary-General of OPEC, has however advised global Leaders and key stakeholders to make use of technology and ensure that right policies are put in place to address carbon emissions rather than switching from one source of energy to another.

He stated, “All conventional and non-conventional energy sources will be required for the foreseeable future.”

The Secretary-General in company of the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva and entourage was tour round the exhibition stands who were in attendance for the NOG big event.

 

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