The Federal Government has revoked five oil mining licences (OML) and one oil prospecting licences (OPL) belonging to five companies, Igbere TV reports.
In a statement issued by the Department of Petroleum Resources (DPR) on Thursday, and obtained by Igbere TV, it said the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences.
The five companies affected were listed as 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).
