NewStats: 3,261,910 , 8,175,515 topics. Date: Saturday, 31 May 2025 at 12:32 AM 3k732a

The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

Harris, who disclosed this at a meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in Abuja, stated that ExxonMobil is currently carrying out new investments in the oil and gas sector in Nigeria.

The Special Assistant on Media and Communications to the petroleum minister, Nneamaka Okafor, disclosed this in a statement issued in Abuja on Monday.

“During the meeting, Mr Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria’s energy sector.

“He expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring the government that the oil giant is not planning to leave Nigeria,” the statement read.

It further quoted the ExxonMobil boss as saying, “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.”

On his part, Lokpobiri reaffirmed the Federal Government’s commitment to enhancing production and fostering a conducive environment for investors in the energy sector.

He highlighted the ministry’s focus on creating collaborations and sharing innovative ideas with international oil companies, stating that “we are dedicated to ramping up production and ensuring a ive environment for all investors by doing everything possible to maintain investor confidence in our country.”

Lokpobiri commended the ExxonMobil team for their commitment in the Nigerian oil and gas sector, noting that it aligned perfectly with the nation’s objectives.

“ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” [/b]the minister stated.

The statement added that the discussions by both parties also touched on the ministry’s for international and independent oil operators.

Lokpobiri assured Harris of the government’s , emphasising the importance of creating a thriving environment for all stakeholders.


[b]“We fully ExxonMobil and other lOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” he stated.

On May 31, 2024, The PUNCH reported that Nigeria might add 480,000 barrels to its daily crude oil output as the Nigerian National Petroleum Company Limited and ExxonMobil took a step towards resolving the disagreement surrounding the sale of the latter’s asset to Seplat Energy.

The report stated that NNPC confirmed it had signed a settlement agreement with ExxonMobil companies in Nigeria over the proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

This was after President Bola Tinubu announced his intervention in the debacle between NNPC and ExxonMobil hindering the sale of the assets to Seplat.

Lokpobiri said recently that Nigeria had lost about $30bn in the past two and a half years as a result of the unsuccessful divestment.

The minister expressed concerns that Nigeria was losing about 480,000 barrels of crude oil per day due to the Seplat/ExxonMobil crisis.

He said the asset was producing about 600,000bpd until the crisis began in 2022, saying the nation was losing millions of dollars daily.

The PUNCH reported earlier that ExxonMobil and Seplat Energy had in 2022 announced a $1.6bn sales agreement deal that would see Seplat purchase ExxonMobil’s complete shares in the NNPC.

However, just when all hopes were high for the completion of the deal, a letter dated May 16, 2022, by the Nigerian Upstream Petroleum Regulatory Commission to ExxonMobil, stated that the deal could no longer hold because NNPC had exercised its right of pre-emption first refusal on the assets.

Right of pre-emption is a legal right to parties in a t venture to be the first to be considered for any planned sale or takeover of assets in the JVs if either party chooses to trade them off.

According to reports, NNPC objected to the sale of ExxonMobil’s equity to Seplat and insisted on exercising its first refusal right after which the company reportedly made an offer above $1.6bn to ExxonMobil.

But after about two years of litigation, there seems to be an end in sight to the crisis.

https://punchng.com/no-plan-to-leave-nigeria-says-exxonmobil/?utm_source=telegram&utm_medium=social

Some people will disagree, they will still insist ExxonMobil is leaving

When your business is basically EXPLOITING a people, why would you consider leaving when conditions make them MORE exploitable?

Bitter grievingory Obi people will be disgusted at the news, bad news makes the happy and joyous, like the chronic Mr gbajue charlatan also taking about companies leaving and turnout they are not leaving but remodeling

Paraman:
Some people will disagree, they will still insist ExxonMobil is leaving

We know those people. They are always bitter.

Was that why others were leaving or must you have a senseless excuse to buttress your obidient ipob foolishness on every topic ?!

Namaster:
When your business is basically EXPLOITING a people, why would you consider leaving when conditions make them MORE exploitable?

You mean staying in Nigeria is now subject to increasing speculation for Exxon? ok o

Story for the gods
Who dey go go tell you say him dey go

CrushObituaries:
Bitter grievingory Obi people will be disgusted at the news, bad news makes the happy and joyous, like the chronic Mr gbajue charlatan also taking about companies leaving and turnout they are not leaving but remodeling

Ekiti one room occupant.

How will have plan to lev when you're benefiting the country more than others companies

But e Dey mind

Copying FG style

Debunk first, Agree later

Ok..when the regime dey favour them..why will they want to leave..

By the time the government stops favouring them,, make i know if they will leave or not.....

They will still leave because the economic situation in Nigeria today does not allowed the macroeconomic industries to break even let alone maximise profits

Badnews for Boda Bitter the lamenter and his cult

I wish it's true.

then you guys must sell crude to dangote or leave

Gbajue Obi rubbished again with him lies

igbos won't like this news

For the fact that leaving even crossed their mind, after all these years of operations in Nigeria, shows that all is not well.

Namaster:
When your business is basically EXPLOITING a people, why would you consider leaving when conditions make them MORE exploitable?

a senseless member of the Boda Bitter the lamenter cult group slighted wailing bitterly...

The most stingy company abegi ExxonMobil pack N go please let another one try

Bitter family on the BEAT...

Namaster:
When your business is basically EXPLOITING a people, why would you consider leaving when conditions make them MORE exploitable?

Absolutely! they are milking the country, why would they leave?

Walahi some people no go like dis news

For them to talk this one, the plan to exit Nigeria is already in motion.

When a woman tells you she will not leave you, just know that she has already left.

Namaster:
When your business is basically EXPLOITING a people, why would you consider leaving when conditions make them MORE exploitable?

If dem talk say dem dey leave then you go blame government and if dem talk say dem no leave, you go still blame government… shameless headless mob

Makunahatata:
Badnews for Boda Bitter the lamenter and his cult

Mugu!!
You don chop since day before yesterday?

Ofcourse, why would they leave a fantastically corrupt country where they are milking the oil resources? No regulations, no questions asked, no nothing! I wouldn't leave too, if that was me.

Them wan leave ooo

Tinubulation ooo

I no it

Memphitz357:

Mugu!!
You don chop since day before yesterday?

😹 ode! we no dey same cult group na and everybody no dey ur situation....