May 30, 2024
DPR denies revoking 32 Refinery Licences 
DPR generates N2.24trn in 8 months, targets N5trn in December
– By Alison_Godswill

Kindly Share

Facebook
Twitter
LinkedIn
WhatsApp

DPR denies revoking 32 Refinery Licences

The Department of Petroleum Resources, DPR, has denied revoking the licences for the construction of 32 refineries in Nigeria.
In a statement obtained by The Daily, http://www.thedaily-ng.com, the agency, stated; “Our attention has been drawn to a report in some publications stating that DPR has revoked 32 refinery licences issued to private companies in Nigeria.
“We wish to clarify that DPR did not revoke any refinery licence.  Refinery licence like our other regulatory instruments has validity periods for investors to attain certain milestones.
“This implies that after the validity period for the particular milestone,  the licence becomes inactive until the company reapplies for revalidation to migrate to another milestone.
“This does not in any way translate to revocation of the licence of the company.
“DPR in line with the aspirations of the government initiated the refinery revolution programme of government aimed at boosting local refining capacity by enabling business and creating new opportunities for investors with the granting of modular and conventional refinery licenses.”
It added: “DPR will continue to provide support to investors in the oil and gas industry in Nigeria using our regulatory instruments of licences,  permits and approvals to stimulate the economy and align with governments job creation initiatives.”

Kindly Share

Facebook
Twitter
LinkedIn
WhatsApp

Copyright @ TheDaily. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheDaily

Leave a Comment

Your email address will not be published. Required fields are marked *

📰 Subscribe to our Newsletter

Scroll to Top