-TotalEnergies CEO, Patrick Pouyanne, announced the company’s readiness to invest billions in Nigeria’s oil sector by participating in the ongoing oil bid round, signaling interest in additional investment opportunities.
-During a meeting with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Pouyanne discussed topics such as divestment, regulatory consent, and ongoing initiatives related to the Shell Petroleum Development Company Joint Venture deal.
-TotalEnergies expressed interest in Nigeria’s domestic crude oil supply obligations, decommissioning, and abandonment regulations, as Nigeria seeks to modernize its upstream petroleum sector.
-Pouyanne previously criticized Nigeria’s inconsistent policy framework, which led to TotalEnergies investing $6bn in Angola instead, due to the stability of the country’s energy regulations.
-The NUPRC, under the Petroleum Industry Act, is working to foster a favorable business environment, streamline operations, and attract foreign investments, with an emphasis on regulatory clarity to support long-term investments.
Peoplesmind
