The Department of Petroleum
Resources (DPR) has revoked five oil mining licences (OML) and one oil
prospecting licence (OPL) belonging to five companies.
In a public notice issued on
Thursday, the regulatory body said the revocation was based on a presidential
directive to “recover legacy debts” owed by the companies operating the
licences.
The five companies affected are
Pan Ocean Oil Corporation (OML 98); Allied Energy Resources Nigeria, (OML 120
and 121); Express Petroleum and Gas Company (OML 108); Cavendish Petroleum
Nigeria (OML 110) and Summit Oil International (OPL 206).
More to follow…
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