The Federal Government has expressed optimism in attracting more investments by International Oil Companies (IOCs) into Nigeria to foster growth and sustainability in the energy sector.
\nThis is as some IOCs, particularly Shell and TotalEnergies, had announced plans to divest some of their assets from the country.
\nRecall that Shell in January, 2024 had said it would sell the Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance.
\nAccording to the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, increasing investments by IOCs as well as boosting crude production to enhancing Nigeria\u2019s position as a leading player in the global energy market, are the key objectives of the Government.
\nLokpobiri emphasized the Ministry\u2019s willingness to collaborate with State Governments, particularly Bayelsa State, in advancing energy sector transformation efforts.
\nThe Minister, who stressed the importance of cooperation in achieving shared goals said, \u201cwe are open to partnerships with Bayelsa State Government for mutual progress\u201d.
\nIn response to Governor Douye Diri\u2019s appeal for Ministry intervention in restoring the Atala Oil Field belonging to Bayelsa State, the Minister assured prompt attention to the matter.
\nHe said, \u201cWe will look into the issue promptly and ensure fairness and equity in addressing state concerns\u201d.
\nLokpobiri explained that the Bayelsa State Governor, Douyi Diri\u2019s visit reaffirmed the commitment of both the Federal and State Government\u2019s readiness to work together towards a sustainable, inclusive, and prosperous energy future for Nigeria.
\nWhile speaking, Governor Diri commended the Minister for his remarkable performance in revitalisng the nation\u2019s energy sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Government has expressed optimism in attracting more investments by International Oil Companies (IOCs) into Nigeria to foster growth and sustainability in the energy sector. This is as some IOCs, particularly Shell and TotalEnergies, had announced plans to divest some of their assets from the country. Recall that Shell in January, 2024 had said […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-328770","post","type-post","status-publish","format-standard","hentry","category-oil-energy-business"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/328770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=328770"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/328770\/revisions"}],"predecessor-version":[{"id":328776,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/328770\/revisions\/328776"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=328770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=328770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=328770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}