FG Revokes Five Oil Companies’ Licences

The Department of Petroleum Resources (DPR) has revoked six licences belonging to five oil companies.

The licences include five Oil Mining Licences (OML) and one Oil Prospecting Licence (OPL).

The affected companies 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).

The DPR stated that the action was ordered by the presidency in order to “recover legacy debts” owed by the companies.

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