Nigeria: Three Million Crude Oil Production Per Day Achievable—NNPC
The Nigerian National Petroleum Company Limited, NNPCL, is optimistic of increasing the country’s current oil production from 1.7 million barrels per day to three million barrels per day.
According to the NNPC, the political will in that regard is already provided by President Bola Tinubu with directives to relevant security agencies to stem the ugly tide of oil theft and pipeline vandalism that led to an increase in the daily oil production from 1.4 million to 1.7 milliion barrels per day now.
Speaking on Saturday in Abuja at the Stakeholders’ Engagement Session the NNPCL had with journalists, the Chief Corporate Communications Officer (CCCO) of the oil conglomerate, Mr Olufemi Soneye, noted that the feat is attainable with support from all stakeholders.
He said: “Three million barrels oil production per day is achievable in Nigeria if all the stakeholders work in synergy for that purpose from the security agencies both government and privately owned to oil companies and host communities.
“With expected synergy from all the relevant stakeholders on war against oil theft and pipeline vandalism, required enabling environment would be in place for optimal oil production to the volume of 2.5 to 3million barrels per day.”
Soneye had earlier lamented that at a point, oil production went down to 900,000 barrels per day in the country before the involvement of private security agencies and renewed efforts of the military.
He noted, “At that time, we felt Nigeria was in trouble as far as oil theft was concerned, but the intensity of war against it has allayed our fears.”
In a powerpoint presentation on the menace of crude oil theft and its impact on Nigeria’s economy by Deputy Manager, NNPC Command and Control Centre, Murtala Muhammad noted that the crime of oil theft remains a serious concern.
He said that over 8,000 illegal refineries and 5,800 illegal oil pipeline connections were detected and destroyed within the last six months.
He listed, for example, Bayelsa, Rivers, Imo, Abia to be hot spots of the crime.
In his paper presentation on ‘Balancing Reporting and Nation Building: The Role of National Assembly Press Corps’, the resource person, Professor Taiye Obateru, emphasised fairness and national interest in all stories.
Source: https://energynewsafrica.com
UK: End Of An Era As Britain’s Last Coal-fired Power Plant Shuts Down
Britain’s only remaining coal power plant at Ratcliffe-on-Soar in Nottinghamshire will generate electricity for the last time today (Monday, September 30,2024) after powering the UK for 57 years.
The power plant will come to the end of its life in line with the government’s world-leading policy to phase out coal power which was first signalled almost a decade ago.
The closure marks the end of Britain’s 142-year history of coal power use which began when the world’s first coal-fired power station, the Holborn Viaduct power station, began generating electricity in 1882.
The shutdown has been hailed by green campaigners as a major achievement for the government in reducing the UK’s carbon emissions, providing international climate leadership, and ensuring a “just transition” for staff in Britain’s coal industry.
Michael Shanks, the minister for energy, said: “Today’s closure at Ratcliffe marks the end of an era and coal workers can be rightly proud of their work powering our country for over 140 years. We owe generations a debt of gratitude as a country.”
The UK became the first country to set an end date for coal power from 2025 after putting in place increasingly stringent green regulations to reduce the running hours of its coal plants.
Ministers strengthened the UK’s leadership on phasing out coal by calling for the deadline to come forward by a year, shortly before the UK hosted the UN’s Cop26 climate talks in Glasgow in late 2021.
Ratcliffe’s 170 remaining staff will be invited to gather in the canteen on Monday where a live stream from the power plant’s control room will show the moment that its generating units are turned off for the last time.
Peter O’Grady, Ratcliffe’s plant manager, said: “This whole year has been a series of poignant moments. I’m sure there will be a few tears as the whole thing stops and as people leave.”
The coal plant once employed 3,000 engineers but its workforce has declined in line with its power output over recent years.
Coal power made up 80% of the UK’s electricity in the early 1980s, and 40% in 2012, before petering out in the last decade due to costly carbon taxes and the rise of cheaper renewables.
“This is the final chapter of a remarkably swift transition from the country that started the industrial revolution,” said Phil MacDonald, managing director of global energy thinktank Ember.
A report by Ember found that coal power has halved among Organisation for Economic Co-operation and Development (OECD) countries since reaching a peak in 2007.
Coal power made up 17% of electricity generated by OECD countries last year, according to Ember, but 27 of the 38 member states have pledged to be coal-free by the end of the decade.
Ed Matthew, a director at climate crisis thinktank E3G, said: “The UK was the first country to build a coal-fired power station. It is right that it is the first major economy to exit coal power. This is true global leadership, lighting the path for other countries to follow.”
Tony Bosworth, a campaigner with Friends of the Earth, said: “The priority now is to move away from gas as well, by developing as fast as possible the UK’s huge homegrown renewable energy potential and delivering the economic boost that will bring. But this vital green transition must be fair, by protecting workers and benefiting communities.”
Staff were first told in 2021 that the plant would close in late 2022 but Ratcliffe’s owner, the German energy company Uniper, later said it would keep the plant running during the Europe-wide gas crisis triggered by Russia’s invasion of Ukraine under an agreement with the government.
Uniper has worked with unions to help many engineers into new jobs at the company’s other power plants or into training which could lead to work in other areas of the energy industry.
More than 100 are expected to remain at the plant to carry out decommissioning work over the next two years.
Michael Lewis, Uniper’s chief executive, said: “For me, Ratcliffe has always been more than just a power station – it has been a pillar of the UK’s energy security for decades. Built during a time when coal was the backbone of industrial progress, Ratcliffe powered over 2m homes and businesses – equivalent to the entire East Midlands region.
It played a crucial role in boosting economic growth and supporting the livelihoods of thousands of people.
“This will be the first time since 1882 that coal has not powered Great Britain. As we close this chapter, we honour Ratcliffe’s legacy and the people working here, while embracing the future of cleaner and flexible energy,” he said.
Source: The Guardian
Zambia: ZESCO Assures Of Improved Power Supply In October
Zambia’s debilitating power supply situation is likely to improve in October, according to ZESCO.
This will certainly be good for Zambians as thousands of them have been living without a power supply for either some hours in a day or days without a power supply.
Zambia has 3,493.5 Mega-Watts (MW) of installed electricity generation capacity, of which 85 per cent is hydro-based.
Unfortunately, severe drought has affected the hydroelectric power supply in the Southwestern African nation, forcing the power distribution company, ZESCO, to implement load shredding, which has brought a lot of burden on households and businesses.
Speaking to the media earlier last week, the Managing Director of Zesco Limited, Eng Victor B. Mapani, assured Zambians that the power supply would improve in October.
Mapani, who outlined several measures being rolled out to diversify the country’s reliance on hydroelectric power, said the country is investing in the development of renewable energy sources.
He said his outfit is planning to partner with solar power developers to import solar panels and accessories at a cheaper cost.
He said one of the things they have done is asking mining firms to pull back 30 per cent of the power they consume so that this power could be channelled to consumers.
Mr. Mapani said they are expecting the Maamba coal power plant, which was shut down for maintenance since August 2024, to come online in October.
“Within the next 10 days, the Maamba power plant will come online, and we expect the power situation to improve,” he stated.
Source: https://energynewsafrica.com
AfDB Group’s Sustainable Energy Fund For Africa Approves €6 Million For Desert To Power – Burkina Faso Solar Project
The African Development Bank Group has approved a €6 million concessional financing package from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund managed by the Bank, to accelerate the completion of Burkina Faso’s Dédougou photovoltaic solar project in support of the Bank’s Desert-to-Power initiative.
The project involves designing, constructing and operating an 18-megawatt solar power plant in Dédougou, located 250 kilometres west of the capital, Ouagadougou.
Burkina Faso is one of five priority countries under the Desert-to-Power initiative, which aims to generate 10 gigawatts of solar power across 11 Sahelian countries by 2030, promoting socio-economic development.
This project stands as one of the first independent power producers (IPPs) in Burkina Faso and has secured both senior and subordinated loans, along with a 25-year Power Purchase Agreement (PPA) with the Société Nationale d’électricité du Burkina Faso (SONABEL).
However, the project encountered challenges in reaching financial close due to cost escalations resulting from the COVID-19 pandemic.
The SEFA Covid-19 IPP Relief Programme (SEFA Programme) played a pivotal role in overcoming these hurdles.
Through concessional financing, SEFA helped restructure the financial arrangements to absorb the pandemic-related cost increases, ensuring the project’s viability and preserving the originally agreed structure with the Government of Burkina Faso, thereby contributing to the country’s energy security.
Under the SEFA Programme, a €2.5 million senior concessional loan and a €3.5 million reimbursable grant have been provided through its concessional finance facility.
SEFA’s involvement has been instrumental in unlocking additional financing from the Dutch entrepreneurial development bank, FMO, including subordinated and senior loans.
These funds will be disbursed to Dédougou Solaire SARL, the project company jointly developed by QAIR, which is responsible for managing the project.
As part of the Desert-to-Power initiative, the project is expected to contribute to energy security, diversification of the energy mix, reduced electricity costs, and increased national electrification rates.
“The Dédougou Solar PV project increases Burkina Faso’s renewable energy generation capacity in line with the objectives of the Desert-to-Power Initiative.
By backing projects like this, we are making tangible strides toward electrifying the Sahel, bolstering energy security, and improving the lives of millions,” said Dr. Daniel SCHROTH, Director of the Renewable Energy and Energy Efficiency Department at the African Development Bank “Abdoulaye Toure, CFO at Qair Africa, acknowledged SEFA’s support and the project’s advancement: “We are pleased with this approval by SEFA and thank the African Development Bank for their support of the project.
This allows us to move forward with our commitment to supporting Burkina Faso’s energy goals by developing a second solar plant, just a year after the successful commissioning of Zano.
This achievement aligns with the country’s ambitions for energy supply and reinforces Qair’s vision of becoming a leading player in Africa’s renewable energy sector in the coming years.”
Source: https://energynewsafrica.com
The Gambia: Karpowership Line Damaged By Thunderstorm Repaired—Says NAWEC
The Gambia’s National Water and Electricity Company Limited has announced the restoration of power supply in the West African country.
This follows the repair of the lines to the Karpowership that was damaged as a result of a thunderstorm last night.
Earlier today, Saturday, NAWEC, in a statement, assured the public that their team was already on the site, working with the Karpower team to resolve the issue.
In an update about two hours ago, the power and water distribution company said the damaged line had been successfully repaired.
“The power-ship is now fully operational and normal service has been restored.
“We thank you for your patience and understanding during this period,” the company said.
Source: https://energynewsafrica.com
Ghana: Electricity And Water Tariffs Up By 3.02%, 1.86%
Ghana’s economic regulator for electricity and water utility, Public Utilities Regulatory Commission (PURC), has announced a 3.02 per cent and 1.86 per cent increase in electricity and water tariffs respectively effective, October 1, 2024.
This was contained in a statement issued by Dr. Ishmael Ackah, Executive Secretary for PURC and copied to energynewsafrica.com.
In arriving at the decision, the Commission took into account the US Dollar/Ghana Cedi exchange rate, domestic inflation rate, cost of natural gas and electricity generation mix, among others.
“By incorporating changes in the values of these indicators in the quarterly tariff reviews, the Commission ensures that the real value of the tariffs are maintained, to provide for the financial viability and ability of utility service providers to deliver on their mandate,” Dr Ackah said.
The new tariff, according to the Commission, is necessary to keep the light on and the water flowing.
Dr Ackah mentioned that the Hydro-Thermal generation mix considered for the projected period remained unchanged with hydro sources contributing 34.81 per cent to generation, while thermal sources contributed 65.19 per cent to the generation mix.
“There was, however, a 4.96% depreciation of the Ghana Cedi against the US Dollar between the second and third tariff quarters.
“Projected inflation rate for the period declined marginally from 24.38% to 22.27%. Similarly, the Weighted Average Cost of Gas (WACOG) declined from US$/MMBtu 8.0422 to US$/MMBtu 7.8368 for the third quarter.
“The overall changes in these factors under consideration amounted to a total under-recovery of GHS 173.98 million, which translates to a 3.02% increase in electricity tariffs. In the case of water, a revenue gap of GHS 12.01 million was recorded which translates to a 1.86% increase in water tariffs,” he said.
The Commission, he said, expects the regulated utilities, including the Electricity Company of Ghana (ECG), Ghana Water Limited (GWL) and Northern Electricity Distribution Company (NEDCo) to adhere strictly to the PURC regulatory benchmark of 98 per cent for revenue collection and, consequently, pay what is due all stakeholders in the value chain.
“This is very necessary for the sustainability of both the energy and water sectors,” he concluded.
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Source: https://energynewsafrica.com
Nigeria: TCN Commissions New 100MVA Power Transformer At ALAUSA Sub-station
The Transmission Company of Nigeria (TCN), Lagos Region, has successfully commissioned a new 1×100/125MVA 132/33kV power transformer at its 132/33kV Alausa Transmission Substation in Lagos State.
The new100MVA transformer has increased the substation’s capacity from 105MVA to 230MVA, enabling Ikeja DisCo to offtake more bulk power for its customers in IKEJA, OREGUN, ALAUSA, OJODU, and surrounding areas.
This project is part of the ongoing TCN-World Bank-funded initiatives aimed at improving power supply in Nigeria.
Source: https://energynewsafrica.com
Egypt: Gov’t Targets 42% Renewable Energy In The Energy Mix By 2040
Minister of Electricity and Renewable Energy, Mahmoud Esmat, outlined key targets during the BRICS Energy Ministers Conference, including the goal for renewable energy to comprise over 42 percent of Egypt’s energy mix by 2040 and ambitions to capture 5-8 percent of the global trade for green hydrogen by the same year.
During the opening of the conference in Moscow, Esmat highlighted Egypt’s commitment to transitioning to sustainable energy sources and leveraging its abundant renewable resources, particularly solar and wind energy.
Esmat noted that Egypt’s strategy focuses on effectively managing and maximizing the benefits of its natural resources while aiming to reduce carbon emissions and promote green energy.
“Our shared goals are essential to address the global energy landscape’s challenges and opportunities,” he stated, underlining Egypt’s ongoing efforts to balance economic growth with sustainable energy development.
He elaborated on the country’s plans to diversify its energy mix and enhance energy efficiency, emphasizing the significance of renewable sources alongside nuclear energy in the transition to a greener future.
The Electricity Minister also highlighted Egypt’s recent launch of the national hydrogen strategy, positioning the country as a future leader in green hydrogen production, as well as the establishment of the National Hydrogen Council and new legislation for green hydrogen investment incentives reflecting the Egyptian government’s commitment to attracting foreign investments in this emerging sector.
Esmat also stressed the importance of cooperation within BRICS, particularly regarding hydrogen transport and technology development.
He outlined ongoing partnerships with BRICS countries, including Egypt and Russia’s cooperation on the El Dabaa nuclear power plant, and collaborations with China in various energy sectors, including green hydrogen.
There are also continuing partnerships with India on thermal power projects and hydrogen initiatives, he added, also highlighting that the unified electrical grid in Egypt is linked to its neighbors in Jordan, Sudan, Libya, and soon with Saudi Arabia.
Source: https://energynewsafrica.com
Russia, Mali Strengthen Co-operation On Alternative Energy, Nuclear Power
Russia’s state-owned atomic corporation, Rosatom, and Malian Ministry of Energy and Water have discussed progress in the implementation of alternative energy and geological exploration projects, and considered ways of expanding bilateral co-operation.
The meeting was a follow-up on a series of meetings that took place in July 2024 where a memorandum was signed between Rosatom and Mali to develop nuclear energy infrastructure.
On 25 September, Nikolay Spasskiy, Deputy Director General-Director of the International Co-operation Unit of Rosatom, met with a delegation from Mali led by Alusseni Sanou, Minister of Economy and Finance.
From the Malian side, the Minister of Energy and Water Resources, Bintou Camara, the Minister of Transport and Infrastructure, Madina Sissoko Dembele, and the Minister of Mines, Amadou Keita, attended the event.
The parties discussed progress in the implementation of projects in the field of solar power generation and geological exploration, and considered ways of expanding bilateral co-operation.
These discussions follow the meetings that took place earlier this year between the President of the transition period of the Republic of Mali, Colonel Assimi Goïta, and Rosatom.
Three memoranda related to the development of nuclear infrastructure and human capital were signed as the final outcome.
It was agreed to continue close contacts and to hold regular co-ordination meetings as joint work progresses.
Co-operation and partnership are the backbone of the Russia-Mali relationship in the field of the energy sector’s development, and a step towards a sustainable energy future of the entire African continent.
Mr. Spasskiy invited the Malian delegation to visit a Russian NPP by the end of the year.
This invitation was gratefully accepted as nuclear projects based on international collaboration can be a key to unlocking the potential of many African nations, including Mali, and addressing pressing economic and social challenges.
Source: https://energynewsafrica.com
Ghana: Vivo Energy Ghana Achieves Outstanding Safety Milestone – 5000 Goal Zero Days
Vivo Energy Ghana, the exclusive distributor and marketer of Shell branded products has proudly marked an exceptional milestone in its commitment to safety and operational excellence, celebrating 5000 Goal Zero Days (no harm to people and minimising its impact on the environment).
This achievement reflects the tireless dedication of employees, contractors, transporters, and all its stakeholders in maintaining the highest safety standards and incident-free operations.
The commemorative event was held at the company’s head office in Accra and saw key stakeholders in attendance, including the company’s Managing Director, the Vice President-Group HSSEQ-MS, the company’s Board Director, and representatives from its contractors and transporters, all of whom who shared remarks and applauded the collective effort that has made this milestone possible.
In his remarks, Mr. Jean-Michel Arlandis, Managing Director of Vivo Energy Ghana highlighted the crucial role of teamwork, vigilance, and the earnest commitment to safety: “I am grateful to all contributors for their roles in sustaining an incident-free environment including my predecessors under whose tenure this achievement has been made possible,” he said.
He emphasised the company’s ongoing commitment to ensuring workplace safety and excellence.
The Vice President, HSSEQ-MS of Vivo Energy Group Mr. Grant Bairstow in his goodwill message commended the proactive measures and rigorous safety protocols that have become the foundation of the company’s culture and expressed his appreciation towards this great feat by the Ghana team.
He further encouraged the team to keep up the good work towards achieving more Goal Zero Days in the business operations both internally and externally.
The Company’s Board Director, Mr. Samuel Sarpong also reflected on the journey thus far and underscored the importance of continuing this path to sustain this impressive record.
He also expressed his enthusiasm and hope for the company to clock 7500 Goal Zero Days in some few years to come.
As part of the celebrations, the company’s transporters and contractors were acknowledged and presented with citations of appreciation, symbolising the collective pride in achieving this feat.
Well wishes from both internal and external stakeholders were shared, further highlighting the broad support for the company’s safety-first approach.
As Vivo Energy Ghana celebrates this achievement, it also looks ahead to the future with renewed determination.
The 5000 Goal Zero days stand as a testament to the company’s long-standing commitment to Health, Safety, Security, Environment, and Quality Management Systems (HSSEQ-MS). But more importantly, it serves as a reminder that when a team comes together with a shared purpose, no goal is out of reach.
Source: https://energynewsafrica.com
Ghana: Stop Refuelling Vehicles With Passengers Onboard—NPA Cautions
The National Petroleum Authority (NPA) has cautioned commercial drivers against refuelling vehicles with passengers onboard.
The Authority said such a practice endangers the lives of passengers as they are exposed to harmful chemicals.
Speaking at the NPA Central Regional sensitisation durbar in Cape Coast, the Central Regional Manager of the NPA, Mr Michael Opoku-Obiri, said one of the primary risks associated with refuelling is the inhalation of toxic fumes.
He explained that gasoline contains harmful chemicals like benzene, a known carcinogen.
These fumes can easily enter vehicles through open windows or doors, exposing passengers—especially children and the elderly—to health risks such as nausea, dizziness and respiratory issues.
He noted that despite the open, well-ventilated nature of most fuel stations, drivers often overlook the dangers of trapped fumes inside vehicles.
Many drivers routinely stop at gas stations without asking passengers to exit the vehicle. Whether rushing to drop kids at school, heading to work, or running errands, refuelling with passengers inside the car is a common practice.
However, this seemingly harmless habit has serious safety implications, with the most significant danger being the risk of fire.
From January to July 2023, Ghana recorded 3,819 fire incidents across various sectors, with commercial and fuel-related fires being major contributors.
In light of the frequent fire outbreaks at fuel-filling stations in recent years, Nana Aduam stressed the need for increased public education on safety measures related to fuel and gas usage.
Mr Opoku-Obiri indicated that the Authority had implemented several safety regulations to ensure public safety at fuel stations.
He explained that while refuelling may seem like a routine task, it carries significant risks that are often underestimated.
“By taking simple precautions, such as ensuring passengers exit the vehicle and remaining vigilant about potential hazards, drivers can significantly reduce the dangers associated with refuelling,” he said.
Mr Opoku-Obiri also noted that although specific rules governing the refuelling of commercial vehicles are not publicly available in one comprehensive document, general safety guidelines and warnings are emphasised.
He gave the assurance that the NPA would continue its efforts to raise awareness, educate and inform dealers of petroleum products, consumers, and passengers about the dangers of neglecting safety measures in the use of gas and fuel.
In her speech, the Paramount Queen Mother of Agona Nsaba, who also serves as the President of the Central Regional Queen Mothers Association, Nana Adwoa Nkansah Aduam III, called for stricter enforcement of the NPA regulations on refuelling vehicles with passengers onboard. She noted that this practice posed significant health and safety risks to the public.
Nana Adwoa Nkansah Aduam III emphasised that the NPA must ensure stricter enforcement of its public safety mandate.
She commended the Authority for its ongoing efforts to educate the public on safety protocols within the petroleum industry. However, she also called for further action, especially as the country approaches the dry season when the risk of fire incidents is heightened.
Source: https://energynewsafrica.com
Ghana: Ghana Gas Resolves Technical Fault At Atuabo Gas Processing Plant
Ghana National Gas Company has resolved the technical fault that occured at its Atuabo Gas Processing Plant, which resulted in limited gas supply for power generation plants.
In a statement issued by Ernest Kofi Owusu- Bempah Bonsu, Corporate Communications Manager, he said there was a plant equipment trip on Wednesday, September 25, 2024, which resulted in limited gas flow rate from the plant to power generators.
He explained that immediately, the company’s engineers started working and successfully resolved the issue and restarted the plant.
“We are currently flowing at 40MMscfd which is about 45% of our normal flow,” he said.
He added: “Our team is working assiduously around the clock to ensure power stability of the plant.”
He apologised to Ghanaians for the inconvenience caused and assured that there would be full gas flow for power generation in due course.
Source: https://energynewsafrica.com
Ghana: David Asamoah Appointed As Acting MD Of ECG
The Board of Electricity Company of Ghana has announced the appointment of Mr. David Asamoah as the Acting Managing Director following the resignation of Samuel Dubik Mahama on Wednesday, September 25.
Mr Asamoah previously served as the Deputy Managing Director in charge of Commercial Services at the ECG.
His new role is temporary, pending a decision by the Government of Ghana, the sole shareholder of ECG.
The appointment was announced by the Board Chairman of the ECG, Alexander Afenyo Markin.
Asamoah has experience working with ECG, having previously served as the Sectional Manager of Revenue in charge of Technical Investigation.
He has demonstrated expertise in handling complex cases, including testifying in court against companies accused of illegal power connections.
Source: https://energynewsafrica.com
Nigeria: Exxon Proposes $10 Billion Investment In Nigeria’s Deepwater Oil
U.S. supermajor ExxonMobil has proposed an investment of $10 billion in Nigeria’s deepwater oil resource development, Stanley Nkwocha, spokesman and senior special assistant to the Nigerian President, said in a statement on Thursday.
Nigeria’s Vice President Kashim Shettima “welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies,” says the statement.
Shettima on Wednesday held a high-level meeting with ExxonMobil executives on the sidelines of the ongoing 79th Session of the United Nations General Assembly in New York, the Nigerian presidency said Oil theft and pipeline vandalism have long plagued Nigeria’s upstream oil and gas industry, often resulting in force majeure at the key crude oil export terminals.
International majors have shrunk their exposure to Nigeria’s energy sector in recent years, with transparency in the licensing rounds one of the reasons for Big Oil to divest from their Nigerian assets, on top of oil theft and frequent pipeline damages.
ExxonMobil intends to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian energy company by market value, in a $1.3 billion deal, which has yet to be approved by the regulator.
Now ExxonMobil’s new strategy in Nigeria will focus on the Owo project, a substantial subsea tie-back that could represent a $10 billion investment, the presidential spokesman said today.
“We’re working closely with the President’s office and the Special Adviser to the President to secure favorable fiscal arrangements that will make this significant investment possible,” said Shane Harris, chairman and managing director of ExxonMobil affiliates in Nigeria, as quoted by the press release from the presidency.
“Our commitment to Nigeria remains unwavering. As we celebrate 70 years of oil production and 8 billion barrels produced, we’re not retreating but refocusing our investments on deep-water opportunities,” Harris was further quoted as saying.
Source: Oilprice.com