Nigeria is working to create a more investment-friendly oil and gas sector by improving fiscal discipline, lowering production costs, and boosting output. Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, stated that these efforts aim to make the country more attractive to investors and enhance profitability for both Nigeria and energy firms, ultimately benefiting the wider economy.
Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, emphasized that boosting crude oil production is a national priority vital for economic stability and investor returns. Speaking during a meeting with ExxonMobil Nigeria’s MD and OPTS Chairman, Shane Harris, Lokpobiri highlighted the government’s commitment to partnering with stakeholders to attract investments and increase output.
He noted that growing production is essential to fulfilling both domestic and international supply obligations, including resolving issues like the Domestic Crude Obligation (DCO).NNPC Ltd CEO Bayo Ojulari met with ExxonMobil’s Shane Harris to discuss enhancing collaboration for greater value and efficiency in Nigeria’s upstream sector. The visit supports Nigeria’s push to boost oil production and maintain its leadership in Africa’s oil industry.
