DPR Revokes Six Oil Licences To Recover Legacy Debts

Oil & Gas
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Thursday, June 06, 2018 11:33 AM / by Oluwatoyin Bayagbon of TheCable

 

TheCable is reporting that 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:

  1. Pan Ocean Oil Corporation (OML 98);
  2. Allied Energy Resources Nigeria, (OML 120 and 121);
  3. Express Petroleum and Gas Company (OML 108);
  4. Cavendish Petroleum Nigeria (OML 110) and
  5. Summit Oil International (OPL 206)

 

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