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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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Chinese national bags 5-year imprisonment over illegal mining

A 29-year-old Chinese national, Gang Deng will spend five years in prison over offences bordering on illegal mining and possession of crude materials, a Federal High Court sitting in Ilorin has said.

The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) secured the conviction after arraigning Deng alongside his company, Sinuo Xinyang Nigeria Ltd, before the court.

Justice Muhammed Sani in his judgment sentenced Deng to five years imprisonment with an option of fine in the sum of N1 million.

Sani also ordered that the 25 tons of the mineral recovered from him at the point of arrest be forfeited to the Federal Government.

The charge against Deng reads:

“That you  Sinuo Xinyang Nigeria Ltd and Gang Deng, sometime in the month of September 2022 at Share, along Tsaragi Road in Edu Local Government Area of Kwara State, within the jurisdiction of the Federal High Court, without lawful authority purchased mineral to wit.

“25 tons of mineral worth the sum of N2,490,000.00 conveyed in a DAF TRUCK, with Registration Number KLRAD85XCOE603462, and thereby committed an offence, contrary and punishable under Section 1 (8) (b) of Miscellaneous Offences Act 1984.

The defendant pleaded guilty on one count amended charge read to him, but entered “not guilty plea” for his company.

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