Skip to main content

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...
Post a Comment

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.

Comments

Post a Comment

Popular posts from this blog

'Nigeria Needs Carbon Emission Reduction To Diversify Energy Portfolio'

SNEPCo Wins Awards  By Favour & Akinola Ajibade Nigeria will be able to reduce carbon emission caused by fossil fuels production, once its  renewable energy portfolio, is diversified, Shell Nigeria Exploration and Production Company (SNEPCo) Managing Director Mrs, Elohor Aiboni has said.  According to her, Nigeria would meet the energy needs of its growing population of over 200 million people, once it encourages Public-Private Partnerships in renewable energy, adding that the development would enable her to overcome high investment costs and limited access to financing. She spoke in Lagos, during the 41st annual International Conference and Exhibition of the National Association of Petroleum Explorationists (NAPE). The event was organised for her and  other senior officials of the company.  SNEPCo's Managing Director, Alboni  At the event are officials of SCiN) and their various awards. There,SCiN won the Best Exhibitor and Plat...
Post a Comment
Read more

NUPRC Is Not Leaving Abuja As Erroneously Speculated

By Ibrahim Musa With clear mandates – ensuring compliance with petroleum laws, regulations and guidelines, monitoring of operations at drilling sites, producing wells, production platforms and flowstations, crude oil export terminals, and all pipelines carrying crude oil, and natural gas, supervising operations being carried out under licenses and leases, monitoring operations to ensure that they are in line with national goals and aspirations – the Nigerian Upstream Regulatory Commission, NUPRC, occupies a very influential position in Nigeria’s oil and gas industry. The NUPRC also has the mandate to monitor operations to ensure that they are in line with national goals and aspirations, including those relating to Natural Gas Flare elimination & monetization, Domestic Gas Delivery Obligations and Domestic crude oil supply obligations and ensures that Health Safety& Environmental regulations conform to national and international best oil field practice. The agency fu...
Post a Comment
Read more

Nigeria Loses N10tn to Poor Electricity--- MAN

Its DG, Kadir-Ajayi By Favour & Akinola Ajibade Nigeria's manufacturing sector is losing about N10 trillion or two percent share of its Gross Domestic Product( GDP) to poor supply of electricity, the Manufacturers Association of Nigeria MAN 's Director-General of, Mr Segun-  Ajayi Nadir, has said. He said the electricity reforms introduced by the administration of President Bola Ahmed Tinubu, would help in salvage the sector, if well implemented.  The DG said this, while accessing the impact of of the country's electricity situations on the economy, stating that the sector would help in guaranteeing the growth and development of the economy, once the its reforms are adequately implemented.  According to him, the unfavourable situation in the power sector has placed the country among the worst countries to do business with a rank of 171 out of 190. On the recently signed electricity Act, the MAN's DG said that the 2023 Act will be a major game...
Post a Comment
Read more