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...
Sign MoU on reducing Greenhouse Gas emissions from agric sector
Many countries, including Nigeria stand to benefit from the $12billion, which the United States of America ( USA) has set aside to mitigate the impacts of climatic change in the world, Mr John Kerry, Special Envoys on climatic change to the President Biden of U.S has said.
This happens as the Federal Ministry of Agriculture and Rural Development signed a letter of intent with the U.S. government to reduce Green House Gas emission from the agriculture sector by 74 million tonnes by 2030.
Kerry, who spoke in Abuja, yesterday, said Nigeria is one of the countries in Africa that would suffer the most from the consequences of climate crisis.
He also informed his audience that it has been predicted that Lagos would be wiped off by 2050 (28 years from now) due to the impacts of climate change.
John who stated this during his visit to Timipre Sylva, Minister of State for Petroleum, further said emissions from Nigeria or anywhere in the world would affect Mother Earth.
He spoke further on the need to fight this development, asking Nigeria on how it would join forces together with U.S on the need to tackle climate change.
“So, how do we work on it together? What do we do? Well, the problem of the climate crisis is the emissions.
“What we don’t want to have happen is that Nigeria and other countries make a decision that they’re going to build out a capacity infrastructure that is going to undo what we’re trying to do and set us back. Now, we had a huge amount of agreement in our conversation.
“The minister made it very clear to me that Nigeria intends to be thoughtful about these 10 years. But beyond that, realising that we have this cushion here, we have a few years during which gas will be part of the transition. No question.
“But after you get past those 10 years or so, everyone is going to have to be on a glide path where you’re reducing emissions, because otherwise, we can’t reach net-zero by 2050.”
Across Africa, most stakeholders have expressed the need to allow Africa use its hydrocarbon resources to develop, given the level of under development, poverty and funding required for cleaner energy. But climate change activists are worried over that.
Kerry said the U.S. would double the amount of money going into adaptation and resilience, adding Biden has put together the “President’s Emergency Programme for adaptation and resilience, and it has put $12 billion on the table, as part of that programme, to help countries be able to do what we need to do to reduce the obvious impacts of the climate crisis.”
Also, the Federal Ministry of Agriculture and Rural Development signed a letter of intent with the U.S. government to reduce Green House Gas emission from the agriculture sector by 74 million tonnes by 2030.
The letter was signed by Kerry and Minister of Agriculture and Rural Development, Dr. Abubakar Mohammed.
Mohammed said the agricultural sector was selected as one of five sectors to implement the Nationally Determined Contribution (NDC) action plan, through climate smart agriculture.
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