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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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Officials of the Federal Capital Territory Administration (FCTA) and security personnel have uncovered an illegal oil refining warehouse in Mabushi, opposite the Mobile filling station on Ahmadu Bello way in Abuja.

Mukhtar Galadima, the Director of the Department of Development Control, FCTA, disclosed that the illegal refining site was discovered during the city cleaning exercise.

Three to four plots designated for commercial purposes were identified as locations where oil and diesel were being adulterated and circulated to other parts of the city.

Galadima stated that the city sanitation task force would examine the legal provisions and make recommendations to the FCT Administration for further actions regarding the plots used for these illicit activities. While no arrests were made, items used in the illegal refining process were impounded.

“During the continuation of our city sanitation exercise in Mabushi opposite Mobile filling station on Ahmadu way, we discovered an illegal refining site where oil and diesel are being adulterated,” said Galadima, emphasizing that consequences would follow for the unauthorized conversion of commercial plots.

He added:”We are going to look at the provision of the law and make necessary recommendations to the FCT Administration”

The administration, according to Galadima,will continue to take stringent measures against activities carried out without government approval, including the revocation of titles.

Deborah Osho, Head of Operations at FCT Directorate of Road Traffic Service (DRTS), collaborating in the operation, revealed that besides the illegal oil refining warehouse, the city management team also discovered widespread conversion of areas in the Nation’s capital into illegal car marts and motor parks. Fifteen vehicles have been impounded since the commencement of the operation two days ago.

 

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