{"id":122204,"date":"2024-06-25T11:46:35","date_gmt":"2024-06-25T10:46:35","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans"},"modified":"2024-06-25T13:01:17","modified_gmt":"2024-06-25T12:01:17","slug":"exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans","title":{"rendered":"ExxonMobil assures Nigeria of continued presence, despite divestment plans"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>ExxonMobil, on Monday, moved to quell concerns about its long-term commitment to Nigeria, following announcements of asset sales.<\/p>\n<p>The oil giant recently met with Nigeria\u2019s Minister of State for Petroleum Resources, Heineken Lokpobiri, where its Managing Director, Shane Harris, emphasized continued investment plans.<\/p>\n<p>Harris assured the minister that these sales do not signify an exit strategy. He pointed towards ongoing and planned investments in the country\u2019s oil and gas sector, highlighting the company\u2019s view of Nigeria\u2019s energy potential.<\/p>\n<p>The Special Assistant on Media and Communications to the petroleum minister, Nneamaka Okafor, disclosed this in a statement issued in Abuja on Monday.<\/p>\n<p>\u201cDuring the meeting, Mr Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria\u2019s energy sector.<\/p>\n<p>\u201cHe expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring the government that the oil giant was not planning to leave Nigeria,\u201d the statement read.<\/p>\n<p>Read Also: Otedola increases stake in FBN Holdings to 11.64% with fresh 797m shares<\/p>\n<p>It further quoted the ExxonMobil boss as saying, \u201cWe 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.\u201d<\/p>\n<p>On his part, Lokpobiri highlighted the ministry\u2019s focus on creating collaborations and sharing innovative ideas with international oil companies, stating that \u201cwe 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.\u201d<\/p>\n<p>This comes amidst speculation surrounding ExxonMobil\u2019s future in Nigeria, particularly after their proposed divestment of onshore and shallow water assets to Seplat Energy Plc.<\/p>\n<p>The Minister of State reaffirmed the government\u2019s commitment to fostering a conducive environment for investors. This suggests a potential effort to address any concerns that may have prompted the divestment plans.<\/p>\n<p>While ExxonMobil\u2019s public pronouncements are reassuring, the specific reasons behind the asset sales and the nature of future investments remain unclear. Experts point out that the shift towards deepwater production, often cited by oil majors, can be driven by factors such as higher profitability or lower operational risks compared to onshore assets.Balanced, fearless journalism driven by data comes at huge financial costs.<\/p>\n<p>As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.<\/p>\n<p>If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.<\/p>\n<p>Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. ExxonMobil, on Monday, moved to quell concerns about its long-term commitment to Nigeria, following announcements of asset sales. The oil giant recently met with Nigeria\u2019s Minister of State for Petroleum Resources, Heineken Lokpobiri, where its Managing Director, Shane Harris, emphasized continued investment plans. Harris assured the minister that these sales do not [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":122203,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[5414,13887,254],"class_list":["post-122204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-exxonmobil","tag-heineken-lokpobiri","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ExxonMobil assures Nigeria of continued presence, despite divestment plans - Nigeria<\/title>\n<meta name=\"description\" content=\"ExxonMobil, on Monday, moved to quell concerns about its long-term commitment to Nigeria, following announcements of ass ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ExxonMobil assures Nigeria of continued presence, despite divestment plans\" \/>\n<meta property=\"og:description\" content=\"ExxonMobil, on Monday, moved to quell concerns about its long-term commitment to Nigeria, following announcements of ass ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-25T10:46:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-25T12:01:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1719303985.575813.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ExxonMobil assures Nigeria of continued presence, despite divestment plans\",\"datePublished\":\"2024-06-25T10:46:35+00:00\",\"dateModified\":\"2024-06-25T12:01:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans\"},\"wordCount\":468,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1719303985.575813.jpg\",\"keywords\":[\"ExxonMobil\",\"Heineken Lokpobiri\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/exxonmobil-assures-nigeria-of-continued-presence-despite-divestment-plans\",\"name\":\"ExxonMobil assures Nigeria of continued presence, despite divestment plans - 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