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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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Gas Shortage Hinders Grid Performance, Says TCN


By Favour Ifeoluwa & Akinola Ajibade

The Transmission Company of Nigeria(TCN) says gas constraints is responsible for lower power generation to the national grid.

This follows irregular supply of electricity across the country and the inability of the privatised power sector units to address the problems bedevilling the sector. 

In a statement issued yesterday( Wednesday)  by TCN’s General Manager, Public Affairs, Ndidi Mbah and made available to the media, Mbah  said that the development has impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centers nationwide.

The statement reads, ‘’The Transmission Company of Nigeria TCN hereby announces that there has been a gradual decrease in available generation into the grid due to gas constraints to the thermal generating companies, which has impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centers nationwide.

‘’TCN is doing everything possible in collaboration with stakeholders in the power sector to ensure that it continues to keep the grid intact in spite of the current low power generated into the system.’’

TCN working to ensure gradual increase in electricity supply.

While it noted that the power distributed to the distribution load centers have reduced and as such can only transmit what is generated, the TCN assured of its commitment to ensuring increase in electricity supply to load centers as gas improves.

It added, ‘’Consequent upon the current load on the grid, load distributed to the distribution load centers have also reduced, as TCN can only transmit what is generated.

‘’TCN is committed to ensuring a gradual increase in electricity supply to load centers as gas improves to power available thermal plants.

‘’Please bear with us as we continue to work with the stakeholders in the value chain to ensure that supply through distribution companies.’’

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