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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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Ondo Gets Committee On Electricity Transition

The Electricity  Transition Committé Members 

By Favour Ifeoluwa & Akinola Ajibade 

Ondo Governor Lucky Aiyedatiwa, yesterday (Monday ) onstituted a transition committee that would handle the transition of electricity regulation to the state.

Addressing reporters at the event, the Special Adviser to the Governor on Energy and the deputy chairman of the committee, Engr Johnson Alabi, said that the committee will prepare the transition of the regulation for the state.

The committee has up till October 22, 2024 to submit its recommendations to the governor.

He said: “Based on this, it is expected that the electricity service providers in our state, BEDC, would have discussion with us.

“Our responsibility is to prepare the way forward as to how to manage the new development in the electricity sector.The timeline is between now and October ending.”

The Chairman of the Electricity Regulatory Transition from NERC to State government, Engr. Tunji Ariyomo explained that the committee would provide a platform that ensure smooth transition to the state with all stakeholders put into consideration.

He said: “Even before the committee was constituted, the state Governor, Hon. Lucky Aiyedatiwa and the Special Adviser on Energy, Engr. Johnson Alabi have taken decisive step to arrest the issue of estimated billing through the O’Datiwa Metering programme.

“As a committee, we will put in place technical administrative structure as a form of recommendation that can assist the state, TCN, BEDC and all key stakeholders to have smooth transition.”

Other members of the committee are Mrs. Iyabo Adefemi, Engr. Ajumobi olumayowa, Engr. Stephen Bolawole(Secretary) and Engr. Gbenga Akeju(TCN member).

On the notice that there would be power disruption for nine hours per day for two months, the Special Adviser said: “We actually got notice to that effect and we wrote to TCN immediately that 9 hours daily would crumble our businesses and other activities in the state.

“TCN replied us and assured us that they would do something about that that even if there’s going to be repair, it would be as lengthy as that.

“But fortunately this morning we a story debunking the repair notice did not arise because the repair notice did not receive the approval of the TCN headquarters.We are here to ensure that people carry out their businesses without any encumbrances.”

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