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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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Abuja, others grapple blackout as AEDC rations electricity


By Akinola Ajibade


Abuja Electricity Distribution Company (AEDC) says it would start  rationalising supply of electricity in its jurisdictions soon.

The firm covers Federal Capital Territory ( FCT)), Nasarawa, Niger and Kogi. 

The company, in a statement obtained by News Mirror blamed the development on insufficient power allocation.

In the statement copied to all customers across its franchise, the DisCo said: “We would like to inform you that we are aware of the unstable power supply experienced in recent times essentially caused by insufficient power allocation..

It added that " “Due to the limited energy allocation, which the firm has, implementation of load curtailment directives across our franchise is important, if we  want to ensure grid stability. 

Doing this will involve occasional temporary interruption of power supply in order ascertain areas, which need supply of electricity for a limited period of time.

We understand that this may cause inconvenience to our customers, and we apologize for this.”

Records from the AEDC show allocation for March 7 was 516 Mega-Watts for the three states and the FCT.

Nigeria’s electricity generation has been between 4,000 to 5,000 Mega-Watts despite investments in the power sector.

Last year, it crashed from the 6,336.52 megawatts recorded in 2021 to 5,346.82MW.

According to AEDC: “We are doing everything we can to ensure that the impact of the power outages is minimized, and we appreciate your understanding and cooperation during this challenging time.”

 

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