PETAN and oil majors back Nigeria bid to lift output
The Petroleum Technology Association of Nigeria has joined Shell, TotalEnergies and ExxonMobil in backing government efforts to increase national crude output by one million barrels per day. Industry leaders gathered at a London investment forum organized by the Nigerian Upstream Petroleum Regulatory Commission to examine financing opportunities and operational partnerships needed to reach production targets.
Commission Chief Executive Gbenga Komolafe announced that licensing for undeveloped and inactive petroleum assets will commence in early December. The gathering connected investors with regulators overseeing commercially viable projects while federal representatives assured participants that the Petroleum Industry Act would remain unchanged, addressing concerns among international stakeholders about regulatory stability.
