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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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Nigeria 's power drops by 676Mw, throws the country in darkness


Egbin plant


By Favour Ifeoluwa & Akinola Ajibade


Nigeria has lost 676(MW)  megawats of electricity, due to the maintenance works, which are been carried on Egbin Power Plant, the News Mirror reports have said. 

By this, some parts of the country, as usual are witnessing power failure, pending the time major faults are rectify on the plant 

According to a notice issued by the Transmission Company of Nigeria (TCN) the plant was shut down as at 11:13 hours of 18th December 2023, to allow the Nigeria Gas Company (NGC) to maintain a linking gas pipeline supplying gas to Egbin Power Station.

The report said that the station will be shut down for three day Monday, the company stated.

“This means a reduction of 676MW of bulk power generated into the nation’s grid for 3 days and consequently the quantum of bulk power available to be delivered to distribution companies load centers nationwide for the period”, TCN explained.

 

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