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

Lagos reduces BRT's fare by 50 per cent


By Akinola Ajibade


Residents and Non-Residents in Lagos will as from tomorrow ( Thursday) start paying smaller  amounts of money as fares for boarding the Bus Rapid Transit ( BRT) and other state-owned transport modes.

This follows the decision by the state governor, Babajide Sanwoolu to approve a 50 percent reduction on fares for passengers in the state.

Other transport modes  approved by the governor were LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY).

While announcing the initiative,  Sanwoolu said that the idea would help in reducing the problems of the residents, adding that that more Cowrie Cards would be provided at bus terminals to enable  Lagosians to get onboard and benefit from the service introduced in response to yearnings of the residents.

He  disclosed that food banks would be set up across the state, to distribute and assist vulnerable Lagosians to have access to better meals across the state.

The  50 percent reduction on all state transport facilities, Sanwoolu said, would be in place in the next seven days, stressing that the naira and fuel scarcity currently being experienced by Lagosians were policies introduced by the Federal Government would soon be a thing of the past.

He said: " A 50% cut in fares on all our BRT buses, LAGRIDE taxi scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY). This will take effect from tomorrow for the next seven days. We will push out more Cowrie Cards to enable more Lagosians to get onboard our services.
Adding that: “I have directed that food banks be set up in various parts of the State to cater for the vulnerable. We will distribute foodstuff to various communities”, the governor added.
On scarcity of fuel, he said the state government is holding discussion  the Nigerian National Petroleum Corporation Limited (NNPCL) on the issue.


Sanwo-Olu added that during discussions between the state representatives and NNPCL, the petroleum firm demanded that Ijegun Egba tank farm owners and operators be given unhindered access to the fuel depots.
The governor, who noted that about 40 percent of petroleum products used in Lagos come from the axis, disclosed that its officials have rearranged the timing of the work on the Buba Marwa Road, a dual carriageway that leads to the tank farms.
Accord

Comments

Post a Comment

Popular posts from this blog

ICPC Will Not Hesitate to Deal Oil Racketeers

By Favour & Akinola Ajibade Oil racketeers will henceforth face prosecution and subsequently sentenced to prison, in the event that the decision of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) stands by its decision to completely eradicate such activities in the country.  This happens as ICPC  secured a seven year conviction for  two fraudsters, Aso Adasa Morrison and Frank Biobarakuma recently.  The body in a statement signed by its spokesperson, Mrs. Azuka Ogugua and made available to the media, said the two suspects were first arraigned sometime in March 2013 before Hon. Justice B. A. Georgewill of Rivers State High Court 16 on a 17-count charge bordering on conspiracy, forgery and obtaining false pretence regarding transactions in crude oil in Nigeria  She said the court was informed of how the convicts and others at large between the month of March 2012 and February 2013 in Port Harcourt, fraudulently obtain...
Post a Comment
Read more

SHELL PHOTOSTORY-2 ( LAKOWE GOLF COURSE, LAGOS

L-R: General Manager, Safety and Environment, Shell Nigeria, Elozino Olaniyan; Vice President Midstream, Henry Bristol; former Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Chike Onyejekwe; SNEPCo Managing Director, Elohor Aiboni and Shell Nigeria Vice President, Human Resources, Olukayode Ogunleye, at the Golf Kitty retreat organised for serving and retired leaders of Shell Nigeria at the Lakowe Golf Course, Lagos… recently. A cross section of serving and retired leaders of Shell Nigeria at the Shell Nigeria Golf Kitty Retreat held at Lakowe Golf Course, Lagos… recently.    
Post a Comment
Read more

'2023 will usher in robust oil industry, says independent producers

Pix depicting Nigeria's energy sector Favour Ajibade The Independent Petroleum Producers Group (IPPG),has said that Nigeria will experience positive changes across its  oil and gas value chain in  2023. Its Chairman, Mr. Abdulrazaq Isa, gave this predictions during the Group’s 2022 Annual Dinner in Eko Hotel and Suites, Lagos.  He said that the tangible effects of the Petroleum Industry Act  implementation, conclusion of this International Oil Companies IOC's divestment phase and the emerging dominance of the indigenous players across onshore and shallow water space; implementation of the decade of gas policy; and the expected deregulation of the downstream sector, will all jointly set the tone and direction for Nigeria’s oil and gas industry in the years to come. According to him, the group has an important role to play going forward and as such are best placed to ensure the optimal development of Nigeria’s hydrocarbon resources as its members have demon...
Post a Comment
Read more