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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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Ardova to commission largest LPG facility in 2023

Pix showing 20,000 MT cooking gas storage facility in 2023 in Lagos 


By Akinola Ajibade


Nigeria will in 2023 boasts of the largest Liquefied Petroleum Gas ( LPG) storage facility, with a view to make the product available to more Nigerians and further prevent scarcity, the Chief Executive officer, Ardova Plc, Mr Olumide Adeosun said this recently during a panel session titled: " Emerging Trends in Storage and Distribution of Petroleum Across Africa and Beyond". 

The session took place during the Oil Trading Logistics (OTL),  Africa Downstream Conference, in Lagos. 

He seized the opportunity offered by the session to show a roadmap of Liquefied Petroleum Gas distribution in Africa.

Adeosun, also the Chairman, Major Oil Marketers Association of Nigeria (MOMAN), said that the country's largest LPG storage facility will come on stream later in 2023 with 20,000 metric tons in Ijora, Lagos.

He  noted that LPG business is going to be well  explored, in view of the fact that there is available market for it, coupled with the fact that the country has already declared a Decade of Gas. There is also 5000 metric tons each.

According to him, the liquid business is an open market for all to take advantage to exploit rather than explore, 

“In gas infrastructure, there’s a lot of opportunities and it is our energy future consumption, therefore, we need to improve storage and distribution across the region.” h added.

The MOMAN Chairman advocated for a government transition programme and urged stakeholders and government to demonstrate support, show regulatory framework, commitment of investment infrastructure and meet the citizens need of adoption to LPG as cooking and commercial gas over biomass.

There is need to build and develop capacity to source for long term investors while collaborating with other countries to work together.

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