Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has assured that International Oil Companies (IOCs) were not divesting from Nigeria but were rather moving from onshore and shallow waters to offshore which requires more investment.

Lokpobiri gave this assurance at the opening session of the 7th Nigeria International Energy Summit (NIES) 2024 in Abuja on Tuesday.

LEADERSHIP reports that the minister’s position is notwithstanding a 69 per cent decline in investments in Nigeria’s oil and gas sector in the last five years.… Read the rest