Nigeria Revokes Six Oil Producing Licences

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The Department of Petroleum Resources has revoked five Oil Mining Licences and one Oil Prospecting Licence belonging to five companies, Punch Newspaper has revealed.

In a public notice issued on Thursday by the regulatory body, 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).

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