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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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Tinubu Commends Shell Over Investments In Nigeria

President Tinubu 

By Favour & Akinola Ajibade

President Bola Tinubu, yesterday, Monday commended Shell Petroleum Development Company SPDC for investing massively on the Nigerian economy. 

He spoke in Abuja during the visit of a delegation of the Shell Petroleum Development Company (SPDC) to the State House, Abuja. 

While speaking to a delegation led by the Global Upstream Director, Ms Zoe Yujnovic, the President said that such investments are needed to enable government meet its obligations.

He recalled that he made a personal promise to Nigerians to help improve investments in the industry, adding that Nigeria is ready to promote businesses for growth.

He assured management of Shell and other investors of his government's willingness to  maintain an open-door policy and address their concerns. 

“We are open for business. We are serious. I give you the assurance of consistency in policy,” he added

He also assured that his government was removing all forms of bottlenecks in order to ensure Nigeria becomes an attractive investment destination.

Replying,Ms Yujnock commended what she described as “incredibly strong start” of the Tinubu presidency and expressed optimism that the “bold” steps taken by the government would renew Nigeria’s pride of place as an investment destination.

She said SPDC was willing to ramp up investment in the country especially in the areas of gas and deep-water assets by pumping in billions of dollars.

She also said Nigeria remains a strategic investment country for the company in view of the long history between the two entities and the prospects held by the county’s oil and gas sector.

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