Breaking

ExxonMobil Speaks on Plan to Leave Nigeria

The Managing Director of ExxonMobil Nigeria, Shane Harris, has dismissed rumours of the company’s exit from Nigeria, confirming new investments in the oil and gas sector.

Harris made the disclosure when he met with Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), in Abuja.

According to a statement by Nneamaka Okafor, Special Assistant on Media and Communications to the petroleum minister, Harris expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government.

“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 said.

Lokpobiri commended ExxonMobil’s commitment, aligning with the nation’s objectives. The minister reaffirmed the government’s dedication to enhancing production and fostering a conducive environment for investors.

The discussions also focused on supporting international and independent oil operators, with Lokpobiri assuring ExxonMobil of government support.

This development follows the resolution of the disagreement between NNPC and ExxonMobil, which had hindered the sale of ExxonMobil’s assets to Seplat Energy.

The settlement may lead to an increase of 480,000 barrels in Nigeria’s daily crude oil output.

Lokpobiri noted that Nigeria had lost $30 billion in the past two and a half years due to the unsuccessful divestment.