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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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Customs seized 81,425 litres of fuel, condemmed smuggling activities

Customs'officials observing seized fuel 


By Akinola Ajibade

The Nigeria Customs Service (NCS) has seized 81, 425 litres of premium motor spirit in Badagry despite being attacked suspected smugglers during night operation, the Acting Controller of the Federal Operation Unit 2 of Service, Mr 
Hussein Ejibunu has stated.
He said during a briefing at the weekend in Ikeja, Lagos.
According to him, the  fuel was packed in jerry cans and sacks by the  suspected smugglers who used dane guns to attack customs officers who made the seizure.
The seizures, he said, were borne out of the  painstaking intelligence and perseverance on the part of FOU officers who were committed to protecting the national economy. 
He described  the perpetrators of trans-border fuel smuggling as saboteurs that must be stopped.
He lamented that the Federal Government spends huge amount of money to subsidise fuel for Nigerian citizen’s benefit, only for a few persons to be smuggling the subsidized  fuel out of Nigeria for selfish reasons. 
Ejibunu said: “The seizure is a result of serious intelligence. We have been monitoring them since last week, and the information came to me that some people are using sacks to smuggle petroleum products out of Nigeria.We put a tab on them and their cup became full yesterday. And what baffles me is the manner of loading, which I consider highly ingenious. For someone to think that instead of carrying drums like the ones we intercepted a few days ago from Ayegun border where they brought in about 60 drums containing PMS about to be moved from Nigeria and hid them in a bush; it was where they went to secure trucks that we swooped on them.
“The only difference in this new one is that they used sacks to conceal the product and put them close to a creek, from where they will be ferried out.The implications in the economy are multifaceted, in the sense that firstly, our country subsidized petroleum products for us for our own use, yet some recalcitrant people who believe that, that is the way they can always survive still believe it is to shortchange the nation as well. And it is criminal, because it is our collective patrimony, yet some people now believe that they can smuggle it to make gains.
“When my men got there at exactly 1330hrs, they were shot at with dane guns. And you know that there is a difference between dane guns, pump action guns and assault rifles like AK47. They fired their dane guns a few times and ran away, and since it was their terrain, they knew all the nooks and crannies to use for escape. We took possession because I moved in with 18 Hilux vehicles loaded with officers who were armed to the teeth, because I was ready and knew what could come up.
“We have not slept; we went there this morning to see what we apprehended, and it was massive. The implications on the economy are multifaceted, in the sense that firstly,  subsidized petroleum products for us for our own use, yet some recalcitrant people who believe that, that is the way they can always survive still believe it is to shortchange the nation as well. And it is criminal, because it is our collective patrimony, yet some people now believe that they can smuggle it to make gain,”he added.

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