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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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''Fuel scarcity imminent in Abuja, Nassarawa, others, says Marketers


Nigeria may witness another fuel scarcity in the next few days, if the warning strike of the Independent Petroleum Marketers Association of Nigeria (IPMAN) is anything to go by.

This is coming on the heels of the announcement by the Chairman, Suleja Depot of IPMAN, Alhaji Yahaya Alhassan, that fuel otherwise known as Premium Motor Spirit (PMS) would be scarce in some states in the country.

He listed the states to include Kaduna, Nassarawa, Kogi, Niger among others. Federal Capital Territory ( Abuja), he said, is going to be affected, stating the association is planning to start a there-day warning strike, which may spread to other parts of the country, if urgent steps are not taking to halt it 

Alhassan said that plans at advanced stage to stop the supply of petroleum products to stop supply fuel from its depots to outlets owned by members.

While taking reporters round the packed trucks in the depot at Maje, Suleja in Niger State, Alhasssan said the non-payment of N50billion owed the association by the government was the cause of the strike.

He said: " Virtually all the trucks were loaded with petrol but the marketers insisted they were withdrawing their services until the Federal Government pays their outstanding bridging claims of N50.5billion"  

Continuiing further, he said that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fail to remit the money, the stoppage of supply would continue indefinitely, Alhassan declared.

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