Categories: AFRICALatest

Nigeria: 32 Refinery Licences Expired, Not Revoked, Says Department of Petroleum Resources  

The Department of Petroleum Resources (DPR) has denied revoking 32 refinery licences, saying their validity periods merely expired.

The agency gave the clarification Tuesday in a statement by its Head of Public Affairs, Mr. Paul Osu.

Thirty-two refinery licences issued to private companies, including the 200,000 barrels per day BUA Refinery and Petrochemicals in Akwa Ibom State were reportedly revoked by the DPR while 23 licences remained valid.

Other affected refineries are: Dee Jones (Cross River); Energia Limited (Delta State); Southfield Petrochemical & Refinery Ltd (Edo); Starex Petroleum Refinery (Onne Oil & Gas Free Trade Zone); RG Shinjin Petrochemicals (Delta); Don Mac (Edo), and Platinum Hydrocarbon Resources (Delta).

Others are: Mondonat Nigeria Ltd (Delta); Ikwe-Onna Refinery (Akwa Ibom); Shepha Petroleum & Petrochemicals Company (Delta); JIL-Amber (Port Harcourt Refinery); Gazingstock Petroleum Company (Delta); Petrolex Oil & Gas Limited (Ogun); Eghudu Refinery (Edo); Ibafon Refinery FZE (Calabar FTZ, Cross River); and Kainji Resources (Imo).

Among them are Eko Petrochem & Refining Company (Lagos); Hi-Rev Oil (Akwa Ibom); Epic Refinery & Petrochemical Industries (Bayelsa); Masters Energy Oil & Gas (Rivers); Cross Country Oil & Gas (Imo); Grifon Energy (Ondo); Sifax Oil & Gas Company (Lagos); and Capital Oil & Gas Industries (Lagos).

Others include: All Grace Energy (Rivers); Green Energy International (Rivers); Fresh Energy Limited (Bayelsa); Chyzob Oil & Gas (Abia); Aiteo Energy Resources Limited (Delta); Associated Worldwide Company (Akwa Ibom); and Amakpe International Refinery (Akwa Ibom).

However, DPR stated that refinery licence, like its other regulatory instruments, have validity periods for investors to attain certain milestones.

It said in line with such regulatory instruments, it implied that after the validity period for a particular milestone, the licence becomes inactive until the company reapplies for revalidation to migrate to another milestone.

“We wish to clarify that DPR did not revoke any refinery licence.  Refinery licences like our other regulatory instruments have 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,” the agency added.

DPR said in line with the aspirations of the government, it initiated the refinery revolution programme, aimed at boosting local refining capacity by enabling business and creating new opportunities for investors with the granting of modular and conventional refinery licences.

The regulator assured investors that it will continue to  support them, using its regulatory instruments of licences,  permits and approvals to stimulate the economy and align with the government’s job creation initiatives.

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

 

Follow us on:

AriseNews

Recent Posts

Indonesian Government To Evacuate 16,000 Residents After Mount Lewotobi Eruption

Indonesia is evacuating 16,000 residents after Mount Lewotobi erupted, resulting in nine deaths and significant…

10 mins ago

Philippines Stockpiles Food, Evacuates Towns As Typhoon Yinxing Threatens Northeast

The Philippines is stockpiling food, evacuating towns, and deploying soldiers in preparation for Typhoon Yinxing,…

24 mins ago

Harris Wraps Up Campaign in Philadelphia, Trump Rallies in Michigan as Tight Election Nears

Harris has concluded her campaign in Philadelphia while Trump gathers support in Michigan as election…

38 mins ago

Pennsylvania Judge Approves Elon Musk’s $1Million Voter Giveaway

A Pennsylvania judge has approved Elon Musk's plan to give away $1 million in support…

52 mins ago

Israel Hostages Forum Calls for Investigation into Leak of Confidential Documents by Netanyahu Aide

The Israel Hostages Group has urged for an investigation after a Netanyahu aide allegedly leaked…

53 mins ago

Japan Launches World’s First Wooden Satellite LignoSat To Test Timber’s Potential In Space

Japan has launched LignoSat, the world’s first wooden satellite, to explore timber's potential in sustainable…

56 mins ago