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DPR refuses to revoke 32 refinery licenses

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By Solomon Asowata
The Petroleum Resources Department (DPR) has denied revocation of 32 refining licenses issued to private companies in Nigeria.
Mr. Paul Osu, Head of Public Affairs, DPR, provided this clarification in a statement Tuesday in Lagos.
“We would like to point out that DPR has not revoked any refinery license.
“Refinery licenses, like our other regulatory instruments, have validity periods for investors to reach certain milestones.
“This implies that after the validity period for the particular milestone, the license becomes inactive until the company reapplies for revalidation to migrate to another milestone.
“This does not in any way result in the revocation of the company’s license,” Osu said.
According to him, the DPR in line with the government’s aspirations initiated the country’s refinery revolution program.
He said he aimed to strengthen local refining capacity by fostering business and creating new opportunities for new investors with the granting of modular and conventional refining licenses to investors.
Osu said the DPR will continue to provide support to investors in Nigeria’s oil and gas industry by using its regulatory instruments of licenses, permits and approvals to boost the economy and align with creative initiatives. government jobs. (NOPE)

(NAN)

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