Finance

Chevron: No plan to halt operations in Nigeria

 Chevron seeks increased investment in gas output 

Chevron Nigeria Limited (CNL), operator of the joint venture with the Nigerian National Petroleum Limited (NNPC), has said it has no plan to exit the country, contrary to a report in the media.

In a statement by the General Manager, Policy, Government and Public Affairs Chevron Nigeria Limited, Esimaje Brikinn, the company stated that it has demonstrated this by its investment in the country.

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A report had indicated that new investment plans announced by the top oil major, confirmed insinuations indicating the multinational’s exit plan from the country.

The report quoted Chevron as saying that it will use 70 per cent of its capital allocation for production on oil fields in the United States, Argentina and Canada and reining in investments in large international oil projects as wells as focusing more on investing in the Americas.

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But describing the imputation alleging that it plans to exit Nigeria as ‘misleading’, Chevron urged the public to “note that the allegation is untrue and does not represent the position of Chevron in Nigeria.”

“CNL remains committed to sustaining the existing mutually beneficial and long-term relationship with Nigeria and other stakeholders as demonstrated by our significant economic and social investments in Nigeria over the last six decades.

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“These investments have generated visible and viable socio-economic development in several communities across Nigeria.

“CNL will, along with industry peers in Nigeria, continue to engage the government on policies and opportunities to ensure global competitiveness and sustainability of the petroleum industry,” the statement added.

Thisday

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