BREAKING: ExxonMobil Speaks On Leaving Nigeria
Information reaching Ibom Focus says that ExxonMobil Speaks On Leaving Nigeria
Despite recent rumors and concerns, ExxonMobil has assured stakeholders that it is not planning to exit Nigeria.
This reassurance came from Shane Harris, Managing Director of ExxonMobil Nigeria, during a meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in Abuja.
The meeting was convened amidst the backdrop of ExxonMobil’s proposed divestment of its 100% interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
Harris emphasized ExxonMobil’s ongoing commitment to the Nigerian oil and gas sector, announcing new investments aimed at bolstering the country’s energy landscape. “We are excited about the prospects these new investments bring.
Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave,” Harris stated.
The Special Assistant on Media and Communications to the petroleum minister, Nneamaka Okafor, echoed these sentiments in a statement, highlighting the positive discussions between ExxonMobil and the Nigerian government. Harris’s statements reaffirmed the strong relationship and mutual goals shared by both parties.
Senator Lokpobiri, on his part, reiterated the Federal Government’s dedication to fostering a conducive environment for both international and independent investors in the energy sector. “We are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country,” Lokpobiri noted.
He also commended ExxonMobil’s commitment to Nigeria, aligning it with the nation’s objectives for the energy sector’s future. “ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” he added.
Discussions also covered the ministry’s support for international and independent oil operators, with Lokpobiri assuring Harris of the government’s unwavering support. “We fully support ExxonMobil and other IOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” he stated.
The backdrop to these discussions includes recent developments reported on May 31, 2024, indicating that Nigeria could potentially add 480,000 barrels to its daily crude oil output.
This development follows steps taken by the Nigerian National Petroleum Company Limited (NNPC) and ExxonMobil to resolve their dispute over the sale of ExxonMobil’s assets to Seplat Energy.
The disagreement, which began in 2022, had significant financial repercussions for Nigeria, including a loss of approximately $30 billion over two and a half years, and a reduction of about 480,000 barrels of crude oil per day. However, recent interventions, including President Bola Tinubu’s efforts, have paved the way towards a resolution, signaling an end to the prolonged litigation and opening new avenues for growth and collaboration in Nigeria’s energy sector.
In summary, ExxonMobil’s continued presence and new investments in Nigeria underscore the company’s commitment to the country’s energy sector.
The ongoing partnership between ExxonMobil and the Nigerian government aims to drive sustainable growth and stability, ensuring that Nigeria remains a key player in the global oil and gas industry.
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