Port Harcourt — Chevron Nigeria Limited has expressed optimism that the Petroleum Industry Act will facilitate an enabling environment that will make Nigeria’s oil and gas industry competitive for investment.
Chairman and Managing Director, Chevron Nigeria Limited, Mr. Richard Kennedy, said a good regulatory framework was key to expanding the fortunes of Nigeria’s oil and gas industry.
On corporate social responsibility to its host communities, Kennedy assured that the company will abide by the objectives of the host community funds as captured in the PIA.
He also applauded the success of its Global Memorandum of Understanding – a community-led multi-stakeholder participatory partnership model for community development and engagement, which the comapny has pioneered since 2005.
“The passage and signing into law of the Petroleum Industry Act is a major milestone in the reform of Nigeria’s oil and gas industry geared towards attracting investment and growth. We are hopeful that the PIA will facilitate a more enabling environment that will make Nigeria more competitive for investment.
“CNL recognizes the opportunity that 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 a socially responsible corporate citizen, CNL will continue to work with its partners and relevant government agencies to abide by the objectives of the Host Community Development Trust under the PIA, which among others, include the social and economic development of communities in our areas of operation and enhancing peaceful and harmonious co-existence between settlors and the communities.
“CNL has always put people at the center of the energy conversation. We have learned through decades of experience that our business success in providing affordable, reliable, ever-cleaner energy is directly tied to the progress and prosperity of the people we work with and the communities where we operate.
“We will continue to work with all relevant stakeholders including the government, regulators, non-governmental organizations, and communities’ leaders to build lasting mutually beneficial relationships.”
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