Federal Government Pledges to Facilitate Oil Sector Expansion to Counteract International Oil Company Divestments

The Federal Government announced on Thursday its commitment to removing all obstacles related to exploration and production in the oil sector, as part of its strategy to address the divestment actions taken by international oil companies in Nigeria.

Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), made this declaration during a meeting with the leadership of the Independent Petroleum Producers Group and the Oil Producers Trade Section at his office in Abuja.

Both groups paid an official visit to Lokpobiri in line with the minister’s ongoing engagements with agencies, commissions, and stakeholders in the sector, as stated in a press release by his Special Assistant on Media and Communication, Nneamaka Okafor.

In the statement, the minister assured his guests of the Federal Government’s unwavering commitment to eliminating all barriers hindering the ease of exploration and production in the Nigerian energy sector.

The teams from IPPG and OPTS included senior management officials and representatives from various oil companies. They were led by Abdulrazaq Isa, the President/Group Chief Executive Officer of Waltersmith Petroman Oil Limited, and Gwueke Ajaifia, the Executive Director of OPTS.

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