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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-AEDC:' You are embarrassing the state govt


By Akinola Ajibade
Abuja Electricity Distribution Company (AEDC) is embarrassing the Niger state government, by disconnecting light to its state house, secretariat, general hospital,  and the office to the Secretary to the government over N1.3billion debt.
This follows the decision by AEDC to disconnect government house, ministries, departments and agencies, including the Minna General Hospital due to non-payment of N1.3billion accumulated bills accumulated by the government.
The firm's regional Public Relations Officer, Alhaji Mohammed Adamu,explained that the state government defaulted after initial agreement to offset outstanding sum running into several billions of Naira.
However,Secretary to the State Government (SSG), Alhaji Ibrahim Ahmed Matane in an interview, said AEDC is merely trying to embarrass everyone because the state government have not defaulted in paying monthly N57 million as agreed.
“The AEDC is claiming that the government is indebted to the tune of, N1.3 billion, but again have failed to also let the public know about the one we paid over a period of time. I think they are just out to embarrass everybody by going out and cutting lights just like that”.
Matane said the government will continue to handle the issue of the AEDC with maturity, adding however that he sees no reasons why the company still go ahead to embarrass the state government by throwing the entire government facilities in darkness.
On what the government has done to remedy the situation, Matane said,:“We have been dialoguing with them, even yesterday (Saturday), we met and still talking. But you see they just went to town to embarrass everybod.The average consumption monthly according to the AEDC is estimated at about N70 million, for all the disconnected facilities but based on agreement the state government have been paying N57 million monthly and have not defaulted.
“Even in the court of law, debts with mutual agreement on mode of payments is allowed or acceptable and we agreed with them on how we will be paying, but like I said, as a government we still maintain this gentleman approach to handling the issue”.

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