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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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NERC-Nigerians: Upgrade Your Meters Now or Forfeit Them


By Favour & Akinola Ajibade


Prepaid meters'users may not be able to use their meters after November 2024, in the event that they fail to upgrade then before or on above-stated period, the Nigerian Electricity Regulatory Commission  (NERC) has said. 

The body, in a report, recently made available to the media, said upgrading becomes necessary, in view order to align the nation's electricity system  with international best practices, adding that  meters are being configured to reflect that status. 

It said the deadline of 2024, is given to enable as many costumers as possible upgrade their meters in time for growth.

NERC said: " The Commission has advised citizens with prepaid meter to update them before November 2024. Consumers, who fail to update their meters before the said date won’t be able to recharge their prepaid meters.

NERC, in a post on X, formerly known as Twitter, said updating the meters attracts no cost.

The regulator said electricity Distribution Companies (DisCos) would start to issue free token to enable the update.

“If you have a prepaid meter, it may be time for an update,” the post partly read.

“From November 2024, you may not be able to recharge your meter. However, updating is easy and free. DisCos shall commence issuance of 2 free Key Change Tokens (KCTs) which will update your meter.

“The update will not affect the units in your meter nor will it make your meter run faster than usual.”

 

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