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85-454: Oando Plc is a Nigerian multinational energy company operating in the upstream , midstream and downstream . In July 2016, Oando entered into a tri-partite agreement with the Vitol Group, an independent trader of energy commodities and Helios Investment Partner, an Africa-focused private investment firm to form OVH (formerly known as Oando Downstream). In September 2016, Oando announced

170-548: A basal metabolic rate of 80 watts. For example, if our bodies run (on average) at 80 watts, then a light bulb running at 100 watts is running at 1.25 human equivalents (100 ÷ 80) i.e. 1.25 H-e. For a difficult task of only a few seconds' duration, a person can put out thousands of watts, many times the 746 watts in one official horsepower. For tasks lasting a few minutes, a fit human can generate perhaps 1,000 watts. For an activity that must be sustained for an hour, output drops to around 300; for an activity kept up all day, 150 watts

255-462: A battery (from chemical energy to electric energy ), a dam (from gravitational potential energy to kinetic energy of moving water (and the blades of a turbine ) and ultimately to electric energy through an electric generator ), and a heat engine (from heat to work). Examples of energy transformation include generating electric energy from heat energy via a steam turbine, or lifting an object against gravity using electrical energy driving

340-457: A field ), the elastic energy stored in a solid object, chemical energy associated with chemical reactions , the radiant energy carried by electromagnetic radiation , the internal energy contained within a thermodynamic system , and rest energy associated with an object's rest mass . All living organisms constantly take in and release energy. The Earth's climate and ecosystems processes are driven primarily by radiant energy from

425-500: A $ 250 Million transaction with Seven Energy. In 2014, Oando Energy Resources ("OER") listed on the TSX an affiliate company of Oando PLC entered into agreements with ConocoPhillips ("COP") to acquire its entire business interests in Nigeria for a total cash consideration of ~ $ 1.5 Billion. In June 2015, Oando entered into an agreement with HV Investments II B.V., ("HVI"), a joint venture owned by

510-600: A 30% controlling interest in Unipetrol Plc. In 2001, Ocean and Oil increased its stake in Unipetrol to 42% via an irredeemable convertible loan stock issue. In 2002, Ocean and Oil led Unipetrol's bid for a 60% stake of Agip Nigeria Plc, a rival petroleum marketing firm, owned by Agip Petroli BV, an Italian-based oil company. The merged company was named Oando PLC in 2003, making the company the largest downstream petroleum marketing company in Nigeria. In 2005, Oando Energy Services

595-572: A 40% stake in Gaslink Nigeria Limited, a gas utility company. The acquisition was motivated by a desire to utilize its exclusive gas sale and purchase agreement with the Nigerian gas company. In 2001, the company increased its stake to 51 per cent. So far, Gaslink has developed 250 km of gas pipeline infrastructure. In 2000, Ocean and Oil, a private investment company led by Nigerian entrepreneurs Adewale Tinubu and Omamofe Boyo acquired

680-435: A Lagrangian; for example, dissipative systems with continuous symmetries need not have a corresponding conservation law. In the context of chemistry , energy is an attribute of a substance as a consequence of its atomic, molecular, or aggregate structure. Since a chemical transformation is accompanied by a change in one or more of these kinds of structure, it is usually accompanied by a decrease, and sometimes an increase, of

765-474: A biological cell or organelle of a biological organism. Energy used in respiration is stored in substances such as carbohydrates (including sugars), lipids , and proteins stored by cells . In human terms, the human equivalent (H-e) (Human energy conversion) indicates, for a given amount of energy expenditure, the relative quantity of energy needed for human metabolism , using as a standard an average human energy expenditure of 12,500 kJ per day and

850-509: A bound system is discrete (a set of permitted states, each characterized by an energy level ) which results in the concept of quanta . In the solution of the Schrödinger equation for any oscillator (vibrator) and for electromagnetic waves in a vacuum, the resulting energy states are related to the frequency by Planck's relation : E = h ν {\displaystyle E=h\nu } (where h {\displaystyle h}

935-417: A core concept. Work , a function of energy, is force times distance. This says that the work ( W {\displaystyle W} ) is equal to the line integral of the force F along a path C ; for details see the mechanical work article. Work and thus energy is frame dependent . For example, consider a ball being hit by a bat. In the center-of-mass reference frame, the bat does no work on

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1020-492: A crane motor. Lifting against gravity performs mechanical work on the object and stores gravitational potential energy in the object. If the object falls to the ground, gravity does mechanical work on the object which transforms the potential energy in the gravitational field to the kinetic energy released as heat on impact with the ground. The Sun transforms nuclear potential energy to other forms of energy; its total mass does not decrease due to that itself (since it still contains

1105-591: A farm-in agreement with Network Exploration & Production Nigeria Limited ("NEPN") for the acquisition of 40% participating interest in the Qua Iboe field (OML 13) subject to the consent of the Minister of Petroleum. In 2013, Oando Plc succeeded in raising over N55.2 billion from the capital markets as its Rights Issue recorded 101 per cent subscription. The company issued 4.548 billion shares to existing shareholders at N12 per share between December 2012 and February 2013 with

1190-552: A few exceptions, like those generated by volcanic events for example. An example of a solar-mediated weather event is a hurricane, which occurs when large unstable areas of warm ocean, heated over months, suddenly give up some of their thermal energy to power a few days of violent air movement. In a slower process, radioactive decay of atoms in the core of the Earth releases heat. This thermal energy drives plate tectonics and may lift mountains, via orogenesis . This slow lifting represents

1275-525: A fund advised by Helios Investment Partners ("Helios") and The Vitol Group ("Vitol"), for a cash investment of US$ 461 million in Oando's Downstream business. In 2016, Oando PLC completes a strategic US$ 115.8 million gas and power agreement with Helios. Oando PLC completes sale of Akute IPP. In April 2018, the Securities and Exchange Commission (Nigeria) gave the directive for Oando PLC's shares to resume trading on

1360-469: A given temperature  T . This exponential dependence of a reaction rate on temperature is known as the Arrhenius equation . The activation energy necessary for a chemical reaction can be provided in the form of thermal energy. In biology , energy is an attribute of all biological systems, from the biosphere to the smallest living organism. Within an organism it is responsible for growth and development of

1445-477: A kind of gravitational potential energy storage of the thermal energy, which may later be transformed into active kinetic energy during landslides, after a triggering event. Earthquakes also release stored elastic potential energy in rocks, a store that has been produced ultimately from the same radioactive heat sources. Thus, according to present understanding, familiar events such as landslides and earthquakes release energy that has been stored as potential energy in

1530-470: A market capitalization of N281.8 billion. The market appeared to be operating efficiently, although it was depressed by low personal incomes in Nigeria and political instability deterring foreign direct investment. During the first half of the 2000s, the Central Bank of Nigeria instituted reforms that led to a reduction in the number of banks but a great increase in their size. This and other factors led to

1615-682: A period of rampant speculation. The 2007–2008 financial crisis caused a severe crisis among Nigerian banks, with several forced to close. After the Central Bank had audited the banks in 2009, the SEC started legal proceedings at the Investments and Securities Tribunal against about 260 individuals and entities, alleging that they were involved in abuse such as insider dealing and share price manipulation. The commission also instituted various reforms including improving regulations so as to encourage development of

1700-738: A subsidiary of the Nigerian National Petroleum Corporation (NNPC). The gas infrastructure has the capacity to deliver up to 100 million cubic feet per day (2.8 million cubic metres per day ) at standard pressure of natural gas and will deliver an initial 22 million cu ft/d (620 thousand m/d) of gas to its maiden customer, United Cement Company (UNICEM), to fuel its new 2.5million metric tonnes per annum cement plant, located in Mfamosing, Akampka Local Government Area of Cross River State. In 2012, Oando Exploration and Production Limited ("OEPL") signed

1785-564: A surge in equity market capitalization on the NSE, peaking in March 2008 at US$ 100 billion, over 60% of which was owned by the banks. When Musa Al-Faki , a stockbroker, was installed Director General in 2004, many thought his appointment had been engineered by Ndi Okereke-Onyiuke , head of the Nigerian Stock Exchange. If so, this may have undermined the authority of the SEC as a supervisor during

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1870-425: A system. This property is responsible for the inertia and strength of gravitational interaction of the system ("mass manifestations"), and is also responsible for the potential ability of the system to perform work or heating ("energy manifestations"), subject to the limitations of other physical laws. In classical physics , energy is a scalar quantity, the canonical conjugate to time. In special relativity energy

1955-426: A tiny fraction of the original chemical energy is used for work : It would appear that living organisms are remarkably inefficient (in the physical sense) in their use of the energy they receive (chemical or radiant energy); most machines manage higher efficiencies. In growing organisms the energy that is converted to heat serves a vital purpose, as it allows the organism tissue to be highly ordered with regard to

2040-506: Is a conserved quantity —the law of conservation of energy states that energy can be converted in form, but not created or destroyed; matter and energy may also be converted to one another. The unit of measurement for energy in the International System of Units (SI) is the joule (J). Forms of energy include the kinetic energy of a moving object, the potential energy stored by an object (for instance due to its position in

2125-478: Is a derived unit that is equal to the energy expended, or work done, in applying a force of one newton through a distance of one metre. However energy can also be expressed in many other units not part of the SI, such as ergs , calories , British thermal units , kilowatt-hours and kilocalories , which require a conversion factor when expressed in SI units. The SI unit of power , defined as energy per unit of time,

2210-460: Is about the maximum. The human equivalent assists understanding of energy flows in physical and biological systems by expressing energy units in human terms: it provides a "feel" for the use of a given amount of energy. Sunlight's radiant energy is also captured by plants as chemical potential energy in photosynthesis , when carbon dioxide and water (two low-energy compounds) are converted into carbohydrates, lipids, proteins and oxygen. Release of

2295-434: Is also a scalar (although not a Lorentz scalar but a time component of the energy–momentum 4-vector ). In other words, energy is invariant with respect to rotations of space , but not invariant with respect to rotations of spacetime (= boosts ). Energy may be transformed between different forms at various efficiencies . Items that transform between these forms are called transducers . Examples of transducers include

2380-558: Is called the Lagrangian , after Joseph-Louis Lagrange . This formalism is as fundamental as the Hamiltonian, and both can be used to derive the equations of motion or be derived from them. It was invented in the context of classical mechanics , but is generally useful in modern physics. The Lagrangian is defined as the kinetic energy minus the potential energy. Usually, the Lagrange formalism

2465-473: Is defined in terms of the energy operator (Hamiltonian) as a time derivative of the wave function . The Schrödinger equation equates the energy operator to the full energy of a particle or a system. Its results can be considered as a definition of measurement of energy in quantum mechanics. The Schrödinger equation describes the space- and time-dependence of a slowly changing (non-relativistic) wave function of quantum systems. The solution of this equation for

2550-418: Is directly proportional to the mass of the body: E 0 = m 0 c 2 , {\displaystyle E_{0}=m_{0}c^{2},} where For example, consider electron – positron annihilation, in which the rest energy of these two individual particles (equivalent to their rest mass) is converted to the radiant energy of the photons produced in the process. In this system

2635-508: Is either from gravitational collapse of matter (usually molecular hydrogen) into various classes of astronomical objects (stars, black holes, etc.), or from nuclear fusion (of lighter elements, primarily hydrogen). The nuclear fusion of hydrogen in the Sun also releases another store of potential energy which was created at the time of the Big Bang . At that time, according to theory, space expanded and

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2720-510: Is extremely large relative to ordinary human scales, the conversion of an everyday amount of rest mass (for example, 1 kg) from rest energy to other forms of energy (such as kinetic energy, thermal energy, or the radiant energy carried by light and other radiation) can liberate tremendous amounts of energy (~ 9 × 10 16 {\displaystyle 9\times 10^{16}} joules = 21 megatons of TNT), as can be seen in nuclear reactors and nuclear weapons. Conversely,

2805-617: Is mathematically more convenient than the Hamiltonian for non-conservative systems (such as systems with friction). Noether's theorem (1918) states that any differentiable symmetry of the action of a physical system has a corresponding conservation law. Noether's theorem has become a fundamental tool of modern theoretical physics and the calculus of variations. A generalisation of the seminal formulations on constants of motion in Lagrangian and Hamiltonian mechanics (1788 and 1833, respectively), it does not apply to systems that cannot be modeled with

2890-402: Is no friction or other losses, the conversion of energy between these processes would be perfect, and the pendulum would continue swinging forever. Energy is also transferred from potential energy ( E p {\displaystyle E_{p}} ) to kinetic energy ( E k {\displaystyle E_{k}} ) and then back to potential energy constantly. This

2975-404: Is organized functionally into a number of operating divisions. These divisions are grouped into three categories: Energy Energy (from Ancient Greek ἐνέργεια ( enérgeia )  'activity') is the quantitative property that is transferred to a body or to a physical system , recognizable in the performance of work and in the form of heat and light . Energy

3060-415: Is referred to as conservation of energy. In this isolated system , energy cannot be created or destroyed; therefore, the initial energy and the final energy will be equal to each other. This can be demonstrated by the following: The equation can then be simplified further since E p = m g h {\displaystyle E_{p}=mgh} (mass times acceleration due to gravity times

3145-692: Is the Planck constant and ν {\displaystyle \nu } the frequency). In the case of an electromagnetic wave these energy states are called quanta of light or photons . When calculating kinetic energy ( work to accelerate a massive body from zero speed to some finite speed) relativistically – using Lorentz transformations instead of Newtonian mechanics – Einstein discovered an unexpected by-product of these calculations to be an energy term which does not vanish at zero speed. He called it rest energy : energy which every massive body must possess even when being at rest. The amount of energy

3230-496: Is the watt , which is a joule per second. Thus, one joule is one watt-second, and 3600 joules equal one watt-hour. The CGS energy unit is the erg and the imperial and US customary unit is the foot pound . Other energy units such as the electronvolt , food calorie or thermodynamic kcal (based on the temperature change of water in a heating process), and BTU are used in specific areas of science and commerce. In 1843, French physicist James Prescott Joule , namesake of

3315-445: Is the main input to Earth's energy budget which accounts for its temperature and climate stability. Sunlight may be stored as gravitational potential energy after it strikes the Earth, as (for example when) water evaporates from oceans and is deposited upon mountains (where, after being released at a hydroelectric dam, it can be used to drive turbines or generators to produce electricity). Sunlight also drives most weather phenomena, save

3400-424: Is transformed to what other kind) is often determined by entropy (equal energy spread among all available degrees of freedom ) considerations. In practice all energy transformations are permitted on a small scale, but certain larger transformations are not permitted because it is statistically unlikely that energy or matter will randomly move into more concentrated forms or smaller spaces. Energy transformations in

3485-433: Is trapped in a system with zero momentum, where it can be weighed. It is also equivalent to mass, and this mass is always associated with it. Mass is also equivalent to a certain amount of energy, and likewise always appears associated with it, as described in mass–energy equivalence . The formula E  =  mc ², derived by Albert Einstein (1905) quantifies the relationship between relativistic mass and energy within

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3570-674: The Nigerian Stock Exchange after placing the company's shares on suspension in October 2017 in order to execute a forensic audit. On 31 May 2019, the Securities and Exchange Commission (Nigeria) issued a "Press Release on Investigation of Oando Plc" notifying the public of the conclusion of the commission's investigations of allegations against Oando. The Commission ordered the resignation of board members implicated and barred "...the Group Chief Executive Officer (GCEO) and

3655-436: The composite motion of the object's components – while potential energy reflects the potential of an object to have motion, generally being based upon the object's position within a field or what is stored within the field itself. While these two categories are sufficient to describe all forms of energy, it is often convenient to refer to particular combinations of potential and kinetic energy as its own form. For example,

3740-481: The gravitational collapse of supernovae to "store" energy in the creation of heavy isotopes (such as uranium and thorium ), and nuclear decay , a process in which energy is released that was originally stored in these heavy elements, before they were incorporated into the Solar System and the Earth. This energy is triggered and released in nuclear fission bombs or in civil nuclear power generation. Similarly, in

3825-416: The matter and antimatter (electrons and positrons) are destroyed and changed to non-matter (the photons). However, the total mass and total energy do not change during this interaction. The photons each have no rest mass but nonetheless have radiant energy which exhibits the same inertia as did the two original particles. This is a reversible process – the inverse process is called pair creation – in which

3910-629: The Deputy Group Chief Executive Officer (DGCEO) of Oando Plc from being directors of public companies for a period of five (5) years". On Monday 3 June 2019 the Federal High Court of Lagos under presiding Judge C M A Olatoregun granted Oando PLC's group chief executive, Adewale Tinubu, and deputy group chief executive, Omamofe Boyo, an injunction restraining the Securities and Exchange Commission from executing sanctions, pending

3995-571: The Earth's gravitational field or elastic strain (mechanical potential energy) in rocks. Prior to this, they represent release of energy that has been stored in heavy atoms since the collapse of long-destroyed supernova stars (which created these atoms). In cosmology and astronomy the phenomena of stars , nova , supernova , quasars and gamma-ray bursts are the universe's highest-output energy transformations of matter. All stellar phenomena (including solar activity) are driven by various kinds of energy transformations. Energy in such transformations

4080-504: The ball. But, in the reference frame of the person swinging the bat, considerable work is done on the ball. The total energy of a system is sometimes called the Hamiltonian , after William Rowan Hamilton . The classical equations of motion can be written in terms of the Hamiltonian, even for highly complex or abstract systems. These classical equations have direct analogs in nonrelativistic quantum mechanics. Another energy-related concept

4165-562: The bond market, promoting collective investment schemes and reviewing the 2003 Corporate Governance Code. SEC Director General Al-Faki resigned in April 2009 amid criticism of the SEC role in a share-manipulation scandal involving the African Petroleum stock. He was eventually replaced by Arunma Oteh , who became Director General in January 2010. In August 2010 Oteh dismissed Okereke-Onyiuke from

4250-447: The case of a chemical explosion , chemical potential energy is transformed to kinetic and thermal energy in a very short time. Yet another example is that of a pendulum . At its highest points the kinetic energy is zero and the gravitational potential energy is at its maximum. At its lowest point the kinetic energy is at its maximum and is equal to the decrease in potential energy . If one (unrealistically) assumes that there

4335-965: The case of animals. The daily 1500–2000  Calories (6–8 MJ) recommended for a human adult are taken as food molecules, mostly carbohydrates and fats, of which glucose (C 6 H 12 O 6 ) and stearin (C 57 H 110 O 6 ) are convenient examples. The food molecules are oxidized to carbon dioxide and water in the mitochondria C 6 H 12 O 6 + 6 O 2 ⟶ 6 CO 2 + 6 H 2 O {\displaystyle {\ce {C6H12O6 + 6O2 -> 6CO2 + 6H2O}}} C 57 H 110 O 6 + ( 81 1 2 ) O 2 ⟶ 57 CO 2 + 55 H 2 O {\displaystyle {\ce {C57H110O6 + (81 1/2) O2 -> 57CO2 + 55H2O}}} and some of

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4420-599: The company launched its first Independent Power Plant for the Lagos Water Corporation . The project involved the construction of a 12.5MW power plant to provide uninterrupted power supply to the Lagos Water Corporation. In 2011, Oando Gas and Power (now Axxela ) commissioned 128 km EHGC Pipeline, the pipeline was built under a joint venture arrangement with the Nigerian Gas Company (NGC),

4505-502: The complete conversion of matter (such as atoms) to non-matter (such as photons) is forbidden by conservation laws . Securities and Exchange Commission (Nigeria) The Commission originates from the ad hoc, non-statutory Capital Issues Committee established in 1962 as an arm of the Central Bank of Nigeria . The committee became the Security Exchange Commission in 1977, and then the Securities and Exchange Commission

4590-451: The complex organisms can occupy ecological niches that are not available to their simpler brethren. The conversion of a portion of the chemical energy to heat at each step in a metabolic pathway is the physical reason behind the pyramid of biomass observed in ecology . As an example, to take just the first step in the food chain : of the estimated 124.7 Pg/a of carbon that is fixed by photosynthesis , 64.3 Pg/a (52%) are used for

4675-553: The concept of special relativity. In different theoretical frameworks, similar formulas were derived by J.J. Thomson (1881), Henri Poincaré (1900), Friedrich Hasenöhrl (1904) and others (see Mass–energy equivalence#History for further information). Part of the rest energy (equivalent to rest mass) of matter may be converted to other forms of energy (still exhibiting mass), but neither energy nor mass can be destroyed; rather, both remain constant during any process. However, since c 2 {\displaystyle c^{2}}

4760-399: The conservation of energy is a consequence of the fact that the laws of physics do not change over time. Thus, since 1918, theorists have understood that the law of conservation of energy is the direct mathematical consequence of the translational symmetry of the quantity conjugate to energy, namely time. In the International System of Units (SI), the unit of energy is the joule . It

4845-470: The energy is used to convert ADP into ATP : The rest of the chemical energy of the carbohydrate or fat are converted into heat: the ATP is used as a sort of "energy currency", and some of the chemical energy it contains is used for other metabolism when ATP reacts with OH groups and eventually splits into ADP and phosphate (at each stage of a metabolic pathway , some chemical energy is converted into heat). Only

4930-457: The energy stored during photosynthesis as heat or light may be triggered suddenly by a spark in a forest fire, or it may be made available more slowly for animal or human metabolism when organic molecules are ingested and catabolism is triggered by enzyme action. All living creatures rely on an external source of energy to be able to grow and reproduce – radiant energy from the Sun in the case of green plants and chemical energy (in some form) in

5015-534: The execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP ("Helios"), a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando's midstream business subsidiary, Oando Gas and Power Limited. Oando is Nigeria's indigenous oil and gas company with a production output of 43,000 barrels (6,800 cubic metres ) per day of oil equivalent , enterprise value of N520 billion and market capitalisation value of N115.1 billion. In 2024, Oando won

5100-489: The first time in the work of Aristotle in the 4th century BC. In contrast to the modern definition, energeia was a qualitative philosophical concept, broad enough to include ideas such as happiness and pleasure. In the late 17th century, Gottfried Leibniz proposed the idea of the Latin : vis viva , or living force, which defined as the product of the mass of an object and its velocity squared; he believed that total vis viva

5185-638: The hearing and determination of the applicant's motion for interlocutory injunction. On 4 September 2020 Oando announced that the NNPC/NAOC/OANDO Joint Venture made Significant Gas & Condensates Discovery Onshore Niger Delta find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta. On 13 December 2020 Oando announced the successful signing of two gas supply agreements with Nigeria Liquefied Natural Gas Ltd (NLNG) for

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5270-413: The height) and E k = 1 2 m v 2 {\textstyle E_{k}={\frac {1}{2}}mv^{2}} (half mass times velocity squared). Then the total amount of energy can be found by adding E p + E k = E total {\displaystyle E_{p}+E_{k}=E_{\text{total}}} . Energy gives rise to weight when it

5355-426: The hinterland, in 1976 the Nigerian government purchased a controlling stake in the company and rebranded the company as Unipetrol Nigeria. On 1 March 1991, Unipetrol became a Public Limited company. Later on in the same year, the Nigerian government sold 60% equity to the Nigerian public in an initial public offering . By February 1992, Unipetrol was listed on the Nigerian Stock Exchange. In 1999, Unipetrol acquired

5440-495: The intention of raising N54.6 billion. Oando Gas and Power commissioned 10.4 MW Alausa Independent Power Plant to provide electricity to the Lagos State Secretariat Complex. Following the decommissioning of OES Professionalism in 2013, OES currently has a fleet of 4 rigs; OES Teamwork, OES Respect, OES Integrity and OES Passion. In 2014, Oando divested the 128 km Eastern Horizon Gas Company (EHGC) franchise in

5525-482: The marginalia of her French language translation of Newton's Principia Mathematica , which represented the first formulation of a conserved measurable quantity that was distinct from momentum , and which would later be called "energy". In 1807, Thomas Young was possibly the first to use the term "energy" instead of vis viva , in its modern sense. Gustave-Gaspard Coriolis described " kinetic energy " in 1829 in its modern sense, and in 1853, William Rankine coined

5610-424: The mass equivalent of an everyday amount energy is minuscule, which is why a loss of energy (loss of mass) from most systems is difficult to measure on a weighing scale, unless the energy loss is very large. Examples of large transformations between rest energy (of matter) and other forms of energy (e.g., kinetic energy into particles with rest mass) are found in nuclear physics and particle physics . Often, however,

5695-474: The metabolism of green plants, i.e. reconverted into carbon dioxide and heat. In geology , continental drift , mountain ranges , volcanoes , and earthquakes are phenomena that can be explained in terms of energy transformations in the Earth's interior, while meteorological phenomena like wind, rain, hail , snow, lightning, tornadoes and hurricanes are all a result of energy transformations in our atmosphere brought about by solar energy . Sunlight

5780-427: The molecules it is built from. The second law of thermodynamics states that energy (and matter) tends to become more evenly spread out across the universe: to concentrate energy (or matter) in one specific place, it is necessary to spread out a greater amount of energy (as heat) across the remainder of the universe ("the surroundings"). Simpler organisms can achieve higher energy efficiencies than more complex ones, but

5865-508: The opportunity to fully focus on business operations whilst continuing to ensure that it is in compliance with all governing statutes. Exploration and Production: 2017 Average Net Production was 40,188 barrels (6,390 m) per day of oil equivalent Assets Portfolio: 14 Producing Development & Exploration Assets: Trading: C 7% of Nigeria's Fuel Requirement is Supplied by Oando Trading OVH Energy: > 320 Retail Outlets Operations in Nigeria, Ghana, Benin and Togo Oando PLC

5950-423: The renewal of gas supply for the existing Trains 1-3 for a term of 10 years and for gas supply for the impending Train 7 for a term of 20 years. On 19 July 2021, Oando entered into a settlement with the Securities and Exchange Commission. The settlement reached by the parties was aimed at preventing further market disruption and harm to Oando PLC’s shareholders. As a result, Oando’s directors and management team have

6035-405: The rest mass of particles is created from the radiant energy of two (or more) annihilating photons. In general relativity, the stress–energy tensor serves as the source term for the gravitational field, in rough analogy to the way mass serves as the source term in the non-relativistic Newtonian approximation. Energy and mass are manifestations of one and the same underlying physical property of

6120-474: The same total energy even in different forms) but its mass does decrease when the energy escapes out to its surroundings, largely as radiant energy . There are strict limits to how efficiently heat can be converted into work in a cyclic process, e.g. in a heat engine, as described by Carnot's theorem and the second law of thermodynamics . However, some energy transformations can be quite efficient. The direction of transformations in energy (what kind of energy

6205-462: The situation is the reverse. Chemical reactions are usually not possible unless the reactants surmount an energy barrier known as the activation energy . The speed of a chemical reaction (at a given temperature  T ) is related to the activation energy  E by the Boltzmann's population factor e ; that is, the probability of a molecule to have energy greater than or equal to  E at

6290-519: The sum of translational and rotational kinetic and potential energy within a system is referred to as mechanical energy , whereas nuclear energy refers to the combined potentials within an atomic nucleus from either the nuclear force or the weak force , among other examples. The word energy derives from the Ancient Greek : ἐνέργεια , romanized :  energeia , lit.   'activity, operation', which possibly appears for

6375-420: The sun . The energy industry provides the energy required for human civilization to function, which it obtains from energy resources such as fossil fuels , nuclear fuel , and renewable energy . The total energy of a system can be subdivided and classified into potential energy , kinetic energy , or combinations of the two in various ways. Kinetic energy is determined by the movement of an object – or

6460-429: The term " potential energy ". The law of conservation of energy was also first postulated in the early 19th century, and applies to any isolated system . It was argued for some years whether heat was a physical substance, dubbed the caloric , or merely a physical quantity, such as momentum . In 1845 James Prescott Joule discovered the link between mechanical work and the generation of heat. These developments led to

6545-461: The theory of conservation of energy, formalized largely by William Thomson ( Lord Kelvin ) as the field of thermodynamics . Thermodynamics aided the rapid development of explanations of chemical processes by Rudolf Clausius , Josiah Willard Gibbs , and Walther Nernst . It also led to a mathematical formulation of the concept of entropy by Clausius and to the introduction of laws of radiant energy by Jožef Stefan . According to Noether's theorem ,

6630-420: The total energy of the substances involved. Some energy may be transferred between the surroundings and the reactants in the form of heat or light; thus the products of a reaction have sometimes more but usually less energy than the reactants. A reaction is said to be exothermic or exergonic if the final state is lower on the energy scale than the initial state; in the less common case of endothermic reactions

6715-406: The unit of measure, discovered that the gravitational potential energy lost by a descending weight attached via a string was equal to the internal energy gained by the water through friction with the paddle. In classical mechanics, energy is a conceptually and mathematically useful property, as it is a conserved quantity . Several formulations of mechanics have been developed using energy as

6800-421: The universe cooled too rapidly for hydrogen to completely fuse into heavier elements. This meant that hydrogen represents a store of potential energy that can be released by fusion. Such a fusion process is triggered by heat and pressure generated from gravitational collapse of hydrogen clouds when they produce stars, and some of the fusion energy is then transformed into sunlight. In quantum mechanics , energy

6885-401: The universe over time are characterized by various kinds of potential energy, that has been available since the Big Bang , being "released" (transformed to more active types of energy such as kinetic or radiant energy) when a triggering mechanism is available. Familiar examples of such processes include nucleosynthesis , a process ultimately using the gravitational potential energy released from

6970-701: The ‘Deal of the Year’ award at Africa Energy Week (AEW) 2024.This is because of the Company’s $ 783 million acquisition of the Nigerian Agip Oil Company (NAOC), owned by Eni , in August 22, 2024. Oando's earliest roots can be traced to the formation of Esso Africa in 1956. Esso Africa was a downstream marketing company, a subsidiary of the Exxon Corporation of USA . To increase availability of petroleum products in

7055-455: Was chartered with SEC Decree No. 71 of 1979. The commission is now chartered by the Investments and Securities Act No 45 of 1999. A second-tier securities market was established in 1985, and the market grew as the government followed a program of privatization of public sector enterprises. With market capitalization of N4.46 billion in 1980, by the end of 1997 the Nigerian securities market had

7140-440: Was conserved. To account for slowing due to friction, Leibniz theorized that thermal energy consisted of the motions of the constituent parts of matter, although it would be more than a century until this was generally accepted. The modern analog of this property, kinetic energy , differs from vis viva only by a factor of two. Writing in the early 18th century, Émilie du Châtelet proposed the concept of conservation of energy in

7225-449: Was incorporated as an integrated Oilfield Services company to achieve the group's objectives in the upstream services industry. In 2007, Oando Energy services acquired two oil drilling rigs in Nigeria's Niger Delta . In 2008, the company emerged Nigeria's first indigenous oil company with interests in producing deep water assets through the acquisition of equity in two oil blocks. By 2009, the company had acquired 5 swamp rigs and in 2010,

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