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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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Shell Spends $42.2million On Social Investments




By Favour Ifeoluwa & Akinola Ajibade


Shell  Companies in Nigeria and their partners have spent  $42.2millon as total expenditure on direct social investments , its Media and Non-Governmental Organisation Relations Manager, Mr Bamidele Odugbesan has said. 
This ís an increase of 23 percent of 23 percent compared to $34.29 million in the previous year.
According to the statement, Shell exclusively spent $14.1 million, which was a  significant mark-up in efforts by The Shell Petroleum Development Company of Nigeria Ltd (SPDC,) Shell Nigeria Exploration and Production Company Ltd (SNEPCo) and Shell Nigeria Gas (SNG) as well as their partners — Nigerian National Petroleum Company Limited (NNPC); TotalEnergies EP Nigeria Limited; NAOC and Esso Exploration and Production Nigeria Ltd – to promote the socio-economic development of host communities. 
" The figures, contained in the recently published Shell Nigeria Briefing Notes for 2023, show that the investments were in health, education, road safety and enterprise programmes. In addition, SPDC and SNEPCo made $142 million statutory payments to the Niger Delta Development Commission (NDDC) in 2023 alone, the statement added. 
The statement  quoted SPDC’s  Director and Country Head, Corporate Relations Igo Weli,as saying that: “Our vision for the Niger Delta is for our people to take advantage of these and other investments to improve their lives. This is why we support communities to develop their capacities for need assessment and project planning and execution. Our aim is to contribute to the sustainable development of the region through collaboration with all stakeholders.”
Since the 1950s, Shell Companies in Nigeria have also supported education through scholarships and other initiatives. In 2023, SPDC, SNEPCo and SNG invested more than $3 million in such programmes.

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