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Buhari government revokes six oil licenses, gives reasons

Department of Petroleum Resources, DPR, under the administration of President Buhari, has revoked the oil mining licences, OML, granted five companies. Also revoked one oil prospecting licences, OPL.

A public notice issued on Thursday contained the revocation of oil licences.

According to DPR, the revocation was in line with a presidential directive to “recover legacy debts” owed by the companies operating the licences.

The affected Companies: 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).

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