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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 Promises To End Nigeria/Emirates Fued

Tinubu 

President Bola Tinubu, yesterday, ordered for  immediate resolution of the disagreement between Nigeria and the Emirate Airlines, with a view to speedily  foster its growth.

He said the issue is sacrosanct and therefore, should be allow to take place in the interest of the company and the country's aviation industry. 

In a statement issued by the Office of the President yesterday( Thursday) in Abuja, Tinubu said the issue bordering on the repatriation of the airline's stocked fund should be resolve once and for all, in order to foster the growth of the airlines. 

According to Tinubu, he had personally  met the United Arab Emirates,  UAE’s ambassador to Nigeria, Salem Saeed Al-Shamsi on the issue, adding that he would intervene in the dispute.

“We must work together. We need to agree on core aviation and immigration issues,” Tinubu said in a  statement.



Al-Shamsi was quoted in the same statement as saying; “We are getting somewhere. These are small issues, all within a family, and they will be resolved.”

“We must work together. We need to agree on core aviation and immigration issues,” Tinubu said in the statement. 

Recall that UAE stopped issuing visas to Nigerians in 2022, after Dubai’s Emirates suspended flights due to an inability to repatriate funds from Africa’s biggest economy. 

Emirates Airlines said in March this year, said  it has “substantial” revenue trapped in Nigeria and has made slow progress in repatriating the funds.

Nigeria has withheld at least $743 million in revenue earned by international carriers operating in the country, the global airline industry association IATA said in March.

Nigeria, Africa’s top oil producer, faces shortages of foreign currency despite some reforms.

The dollar shortages have made it difficult for some foreignbairlines that sold tickets in the Nigerian naira currency to get their money out of the country.

 

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