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SHELL, EXXONMOBIL EXIT STALLS NIGERIA’S ABILITY TO MEET OPEC QUOTA – FG #OPEC

The Federal Government on Wednesday said its inability to meet the oil production quota allocated to Nigeria by the Organisation of Petroleum Exporting Countries was due to the lack of investments in the oil and gas sector of the economy. It said the lack of investments was due to the recent spate of exits by International Oil Companies such as Shell and ExxonMobil from Nigeria’s oil and gas sector. Nigeria’s OPEC quota is pegged at about 1.8 million barrels per day but in the last few years, the country has struggled between 1.3 and 1.4 million barrels per day.

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