Skip to main content

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...
Post a Comment

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.

Comments

Post a Comment

Popular posts from this blog

Manufacturers Are Key To Nigeria's Economic Growth

By Favour Ifeoluwa & Akinola Ajibade  The Nigerian Economic Summit Group (NESG) says revitalisation of the manufacturing sector is key to the growth of the econnmy.  The group expressed this at a pre-summit webinar ahead of the 30th Nigerian Economic Summit, focusing on the theme:“Reversing the Decline: Strategies for Stabilising Nigeria’s Manufacturing Sector.” The event brought key stakeholders together to discuss on how to prevent decline in the manufacturing industry, by examining how current economic reforms impact the sector’s operations. Speaking,Dr. Muda Yusuf, Thematic Lead of the Manufacturing Group, Mr Musa Yusuf, who  represented Engr. Mansur Ahmed, Private Sector Co-Chair of the Manufacturing and Mining Policy Commission (MMPC) Steering Committee, highlighted the significant role of the manufacturing sector in Nigeria’s development. According to him,despite its potential, the manufacturing sector faces numerous challenges such as inadequate in...
Post a Comment
Read more

NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further s...
Post a Comment
Read more

Transcorp Appoints Christopher EzeafulukweAs Non-Executive Director

Favour Ifeoluwa & Akinola Ajibade  Transcorp Power Plc has strengthed its board with the appointment of Christopher Ezeafulukwe as a Non-Executive Director. This marked a significant change to its Board of Directors. The appointment, approved by the Nigerian Electricity Regulatory Commission, brings a wealth of experience and leadership to the company. Ezeafulukwe, a highly accomplished professional, has over 20 years of executive management experience across multiple sectors, including power, oil and gas, financial services, legal services, and corporate governance. His current role as Managing Director/CEO of Transcorp Energy Limited demonstrates his expertise in the energy sector. Prior to his current position, Ezeafulukwe held leadership roles at Abuja Electricity Distribution Plc and Transcorp Power Limited (now Transcorp Power Plc). He also served as Executive Director, Legal and Business Development, at Transnational Corporation Plc, showcasing his versatilit...
Post a Comment
Read more