Chevron Restates Partnership with Nigeria to Enable Success of Oil Sector 

Peter Uzoho

American oil and gas major, Chevron Nigeria Limited, has reiterated its partnership with the Nigerian government, the Nigerian National Petroleum Company (NNPC) Limited, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and other stakeholders in the nation’s oil and gas industry to enable the success of the sector.

The company also stated that a good regulatory framework was imperative in expanding the fortunes of Nigeria’s oil and gas industry while enabling the transition to energy solutions of the future.

The Chairman and Managing Director of Chevron Nigeria Limited (CNL), Mr. Rick Kennedy, stated these while delivering a goodwill message at the just-concluded Association of Energy Correspondents of Nigeria’s (NAEC) Strategic International Conference in Lagos, with the theme: “Energy Transition, An Appraisal of the PIA, Evolving Benefits and Challenges.”

Represented by the Manager, Communications, Chevron Nigeria, Mr. Victor  Anyaegbudike,  Kennedy, who is also the Chairman of Oil Producers Trade Section (OPTS), said for Nigeria to sustain economic growth which has raised the quality of life of millions of people around the world, there must be a competitive environment to produce energy that is affordable, reliable and ever cleaner to enable human progress.

He noted that the global energy landscape has experienced substantial changes over the years, with expectations of more changes in the future, adding nonetheless, that Nigeria is endowed with the necessary requirements for a growing and sustainable energy industry that includes large hydrocarbon reserves (including abundant gas resources), a growing demand for energy, and a large population of young, talented human resources. 

He said, ‘’The passage and signing into law of the Petroleum Industry Act (PIA) is a major milestone in the reform of Nigeria’s oil and gas industry geared towards attracting investment and growth.

“Chevron recognises the opportunity which the PIA represents, and we fully support the necessary collaboration between the regulators, the Nigerian National Petroleum Company Limited and stakeholders in the industry that will enable the success of the Nigerian oil and gas industry.”

As the stakeholders and players advance in the PIA implementation, Kennedy believed that natural gas was an important fuel that would play a critical role as the world seeks to lower its overall carbon footprint. 

He observed that Nigeria recently launched its Decade of Gas initiative, under the theme: “Towards a Gas-powered Economy by 2030,” that will work with the National Gas Expansion Programme in increasing gas production. 

Kennedy said that his company supports this key step towards helping to utilize Nigeria’s vast natural gas resources for the benefit of the nation. 

He informed that the company has  reduced routine gas flaring by 95 per cent in the past 10 years and remained the highest supplier of high-quality gas to the domestic market among the international oil companies (IOCs). 

He assured that CNL would continue to enhance gas utilization in Nigeria with focus on critical areas such as power generation, to stimulate the growth of the manufacturing sector of the economy.