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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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" I have not wasted N500b Equity Funds On Private Institutions-- Lokpobiri"

Hon Lokpobiri


By Favour Ifeoluwa & Akinola Ajibade

The Minister of State for Petroleum Resources ,Hon Henekein Lokpobiri says he has not wasted over N500billion equity fund  private establishments, as alleged by the former NCDMBs s 'Chairman, Mr Simbi Wabote. 
According the Minister, the former NCDMB leader, the allegations that he gave out the funda as unperfoming loans was not true.
He spoke during the quarterly and recent  event of Petroleum Club  in Lagos, stressing that his office has not requested for an increase in budget by N30bllion, as alleged by erstwhile NCDMB's Executive Secretary, Mr Wabote. 
The Minister noted through a statement made by his Special Adviser, Media & Communication, Nneamakar Okafor said that:"  The position of His Office is that he who made allegations must prove  the same.  So, if Mr Wabote has proof of such conversation, he is challenged to provide it to the public." 
Adding that he has no aide called Diackson as stated by NCDMB. All his aides were duly selected in line with extant laws and he has documents to support his statement.
According to the statement, the Minister in his capacity as the Chairman of the Governing Council stands by the statement made at the Petroleum Club quarterly meeting.
He said that the Atlantic Refinery was supposed to cited in Wabote's home town, challenging him to show where the refinery is located.
Continuing further, Lokpobiri said that the Brass  Ferterlizer and Petrochemical Company waa duly paid for, urging Wabote to show where they are cited, as evidence, which Nigerians must prove.
He added the revelations were not new as they are made during the hearings of the House of Representatives on the local content, adding that records are duly prepared for whoever intends to verify. 
* I have had course to read Mr Wabote release and one can see that he is nursing the wounds of being replaced as the Executive Secretary of the NCDMB.
Recall that the Minster promised to recoup alledged investments worth over N500billon made by the Nigerian Contact Development and Monitoring Board ( BCDMB), not minding the fact the former Executive Secretary of the Board has  described it a worthless ventures, if it is carried out by the Minister of Petroleum Resources, Hon Lokpobiri.2







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