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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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Senate-NPA: Provide Whereabouts of $1.8bn In 48hrs


Senate 


By Favour Ifeoluwa & Akinola Ajibade

 

Senate Committee on Public Accounts has issued a 48 hours ultimatum to the management of the Nigeria Ports Authority (NPA) to explain how it spend over over $1.8 billion in its purse .

Also, the Senate through the Committee is  threatening to “use all instruments available by law to bring the management of NPA to order if it violates the ultimatum.

Its Chairman on Public Accounts  Ahmed Wadada Aliyu,  recently in Abuja, said that the NPA management has been unable to clarify on the whereabouts of $ 852, 930, 730, $ 1, 878, 509, .57 belonging to the agency.

Berating the Managing Director of the agency over alleged refusal to appear before the panel of the Upper Chamber of the National Assembly, Senator Aliyu bemoaned that a representative who was sent by the NPA to the panel was absent when it was time for the interface.

He said: “Nobody is above the law, or would bf allowed to take the institution of the National Assembly for granted. We are the people’s parliament. We are here on the mandate of the people, and we will not take disrespect from anybody.”

The Committee of the Red Chamber further revealed that the management of the NPA would not furnish details on $ 68 million covering “outstanding estate rents, shipping bills, service boats, among others.

Status of long standing debts and debtors form part of the issues they have to answer to.

Others are Lagos Channel management, Bonny Channel management, Calabar Channel management.”

The panel also interfaced with the National Commission for Colleges of Education, Nigeria Mining Cadastre Office, and Nigeria Customs Service (NCS).


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