The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has summoned both international and indigenous oil companies to address contentious issues in the oil sector.
The meeting, which took place in Abuja on Thursday, August 29, 2024, had in attendance members of the Oil Producers Trade Section and stakeholders from various arms of the oil industry.
Lokpobiri, explained that the reason for the meeting was to address misunderstandings about the Nigerian Upstream Petroleum Regulatory Commission’s regulation concerning domestic crude oil supply.
He further stated that the ministry’s approach is rooted in dialogue and collaboration, ensuring that all parties involved are aligned with the Nigerian government’s objectives.
The minister revealed that most of the contentious issues have been resolved and strategies have now been put in place for a better experience in the industry.
“We have made significant progress, with only one or two grey areas remaining,” Lokpobiri said.
He further revealed that a committee, headed by the Permanent Secretary, will be established to review the matter and report back within two days.
“Our goal is to inform Nigerians that, despite any misconceptions, the oil industry is united. We are committed to supporting local refining and creating a globally competitive environment for business operations in the oil and gas sector,”
“We have made significant progress, with only one or two grey areas remaining,”
“There has been a misunderstanding regarding the regulation made by NUPRC concerning domestic crude oil supply obligations by oil companies,” Lokpobiri stated at the briefing.
“As part of our ministry’s policy, we bring parties together to build consensus and resolve misunderstandings”, he said.
Lokpobiri assured the public that the industry is committed to supporting local industries and creating a conducive environment for business operations.
“Our goal is to inform Nigerians that, despite any misconceptions, the oil industry is united. We are committed to supporting local refining and creating a globally competitive environment for business operations in the oil and gas sector,” he said.
Those in attendance at the meeting include the Chief Executive Officer, Frontier Oil, Dada Thomas; Chairman, AA Holdings & EVC Platform Petroleum, Mr Austin Avuru; CEO Green Energy, Prof Anthony Adegbulugbe, CEO Aradel, Mr Adegbite Falade and the CEO of Seplat, Mr Rogers Brown.
The others are the Chief Operating Officer, Seplat, Mr Samson Ezugworie, CEO of Oriental Energy, Mr Mustafa Indimi; CEO of Newcross, Victor Sodje and Executive Coordinator of IPPG Secretariat, Oyeleke Banmeke.
The leadership of the Independent Petroleum Producers Group, executive commission members, and representatives from international oil companies were also in attendance.
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