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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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Port Harcourt Refinery Will Resume Operation, this December, Says Tinubu

Tinubi with Labour Leaders 

By Favour & Akinola Ajibade


Nigeria will heave a sign of relief by this December end, when the Port Harcourt Refinery resume operation, President Bola Ahmed Tinubu has said. 

This refinery, which boast of 150,000 barrels per day (bpd) capacity, will start production by December in the next five months, pricisely December 2023, after the completion of the ongoing rehabilitation contract between NNPCL and Italian firm, Maire Tecnimont SpA.

He said this yesterday during a meeting with the leadership of the Nigeria Labour Congress (NLC) in Abuja.

The meeting ended in success, as the labour suspended its plans to embark on strike.

News Mirror, the President’s statement aligned with the promise made by Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL), that the Port Harcourt refinery will start production by December 2023, two years after the Federal Executive Council approved $1.5 billion for the rehabilitation of the refineries.

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In a statement by Dele Alake, Special Adviser to the President (Special Duties, Communications & Strategy), Tinubu and the organized labour resolved to stop further protests after a fruitful and frank discussion.

The resolution was based on the labour leadership’s confidence in Tinubu’s ability to encourage open and honest consideration of all the issues put forward by the Labour Movement.

Alake further emphasized that President Tinubu has assured the Labour leaders that he would continue to work for the best interest of Nigeria while pleading with the Labour leaders to join hands with him to birth a better and economically buoyant country.

Ajaero and Osifo, Presidents of NLC and TUC, in a statement released following the meeting with President Tinubu highlighted the success of the protest on Wednesday, which led to a closed-door meeting between President Tinubu and the leadership of the NLC and TUC.

The labour leaders said that during the meeting, several important commitments were made by President Tinubu, including an immediate restructuring of the framework for engagement in line with the input of the labor leaders, the assurance that the Port Harcourt Refinery will commence production by December this year, the pledge to reach an agreement on the Wage Award for Nigerian workers immediately, and the promise to unveil a workable roadmap to the CNG alternative next week.

Ajaero and Usifo both said, “In the strength of the President’s pledge and commitment, we have decided for a return to a new and reinvigorated dialogue process to allow for full implementation. Once again, we thank Nigerians while we wait for the Government to fulfill its own part of the understanding as agreed with the President.”

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