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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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Fed Govt Will End Blackout, Says Adelabu

Adelabu 


By Favour Ifeoluwa & Akinola Ajibade


The Federal Government is planning to  fix the gas problems bedevilling the Nigeria's power sector soon., the Special Adviser, Strategic Communication & Media Relations to Power Minster, Mr Tunji Bolaji has said. 

Chief Adebayo Adelabu remains the Nigeria's Minister of Power 

Tunji, who spoke on behalf of the Power Minister, said the government is making efforts to ensure payments of outstanding to generation companies, with a view to improve gas supply and increase electricity generation in the country. 

This Tunji said, will enable distribution companies(DisCos)  to supply more electricity to Nigerians.

The government, he said,  acknowledges that the current situation is unsustainable and its expecting  a turnaround immediately”, the statement added. 

According to him, the problem in the sector has adversely affected production leading to blackout in some parts of the country. 

“In the past couple of weeks, there has been a significant downturn in the level of power supply to Nigerians. This is mainly due to a decreased level of gas supply to generation companies. This situation has led to a lower level of energy supplied to load centres, which has affected supply of electricity to distribution companies.

Adding that: "Efforts are being made by the Federal Government to ensure payments of outstanding to generation companies, in order to ensure improved gas supply and increased power generation, this will also enable distribution companies to supply more electricity to Nigerians.. We acknowledge the current unsustainable situation, and we expect a turnaround immediately”, 

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