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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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NNPC sacks 500 workers , offers them juicy severance packages



By Akinola Ajibade


 National Petroleum Company ( NNPC') Limited, has sacked 500 of its workers.The  workers were lelieved of their jobs through their e-mail addresses and also given juicy severance packages in order to appease them.

They include executive directors, group general managers, general managers, among others. 

Some of them are billed to retire years 22, 23 and 24.

However, some of the workers especially general managers and group general managers have kicked against the idea.

In a message sent to the affected staff of the company, NNPC gave them up till first week of August to decide, or take actions deemed necessary against them  

This aside the fact that they are entitled to 50 per cent of their salaries, unti the time, they are naturally expected to serve out their tenure in the company.

Recall that the group managing director and chief executive of the company, Mele Kyari said at a town meeting with the staff recently that “they  may either accept the package, which would accompany their retrenchment or reject it, but advised to take it.

Added to this was the transition of the Nigerian National Petroleum Corporation (NNPC) to a commercial venture, NNPC Limited, on Tuesday, 19 July 2022.  

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