Domestic oil companies now produce more than 50% of Nigeria\u2019s
\ncrude oil output, marking a significant shift in the country\u2019s
\nupstream sector as domestic operators assume a leading role
\npreviously dominated by international oil companies.<\/p>\n
Oando Energy Resources (OER), a subsidiary of Oando Plc (NGX:
\nOANDO), reaffirmed its support for the Independent Petroleum
\nProducers Group (IPPG) during a meeting between OER Managing
\nDirector Ainojie \u201cAlex\u201d Irune and IPPG Chairman and Aradel Holdings
\nCEO\u00a0Adegbite Falade. The discussion focused on strengthening
\ncooperation among local producers and improving coordinated
\nengagement with policymakers and regulators.<\/p>\n
\nDomestic operators have steadily expanded their presence in
\nNigeria\u2019s oil sector over the past decade, largely through the
\nacquisition of assets divested by international oil companies. The
\ntransition has increased the operational footprint of domestic
\nfirms across several onshore and shallow-water blocks, positioning
\nthem as key drivers of national production.<\/p>\n
\n\u201cOver the last decade, indigenous producers have shifted the
\ncentre of gravity in Nigeria\u2019s upstream industry,\u201d Falade said.
\n\u201cToday, IPPG members account for more than half of national
\nproduction. Oando is a solid part of that story and has
\nconsistently strengthened our collective voice in external
\nengagements.\u201d<\/p>\n
\nFalade also commended the company\u2019s leadership, citing the
\ncontinued backing of Oando Group Chief Executive Wale Tinubu and
\nDeputy Group Chief Executive Omamofe Boyo. He noted the company\u2019s
\nsupport for the organisation\u2019s 10-year anniversary activities,
\nincluding the provision of personnel and resources to assist the
\nprogramme.<\/p>\n
\nIrune said Oando remains committed to supporting the IPPG and
\nstrengthening domestic participation in Nigeria\u2019s oil and gas
\nindustry.<\/p>\n
\n\u201cOando remains firmly invested in the growth and institutional
\nstrengthening of IPPG,\u201d Irune said. \u201cAs indigenous companies lead
\nthe next phase of upstream development, disciplined execution,
\nstrong governance, and coordinated advocacy will be critical to
\nsustaining production growth and ensuring industry stability.\u201d<\/p>\n
\u00a9 2026 bne IntelliNews, source Magazine<\/p>\n","protected":false},"excerpt":{"rendered":"Domestic oil companies now produce more than 50% of Nigeria\u2019s crude oil output, marking a significant shift in…\n","protected":false},"author":2,"featured_media":2622,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46,190],"class_list":["post-327334","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/327334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=327334"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/327334\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/2622"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=327334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=327334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=327334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}