Buhari Govt Revokes Six Oil Licenses ( See List)
The Department of Petroleum Resources, DPR, has revoked the oil mining licences, OML, granted five companies.
DPR also revoked one oil prospecting licences, OPL.
The companies were issued a public notice on Thursday about the revocation.
DPR explained that the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences.
The six Companies include: 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).