Chevron Nigeria Highlights Regulatory Imperatives for Oil and Gas Industry Growth

Chevron Nigeria Limited emphasized the importance of strengthening the regulatory framework in the Nigerian oil and gas industry to enhance growth opportunities.

At the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit, Jim Swartz, Chairman and Managing Director of Chevron companies in Nigeria and the Mid Africa Region, represented by Segun Kuteyi, Director of Operations and Chief Operating Officer, highlighted that resources alone are not enough to guarantee success.

A predictable, transparent, and efficient regulatory framework builds confidence, which attracts investment, drives innovation, creates jobs, and supports economic growth. Chevron has seen key achievements in the industry, including the renewal and conversion of its Joint Venture and Deepwater leases, continued investment in exploration, asset and gas development, and monetization.

The company believes that regulatory certainty could be a catalyst for investor commitments and emphasized the importance of safety, collaboration, and human dimension in the Nigerian oil and gas industry. Chevron also highlighted the need to strengthen regulatory certainty, advance transparency and accountability, drive investment across the value chain, promote collaboration across the industry, support innovation and digital transformation, and build workforce capability and future-ready skills.