The Department of Petroleum Resources (DPR) has revoked five Oil Mining Licences (OML) and one Oil Prospecting Licence (OPL) belonging to no less than five firms.
In a publication released, on Thursday, June 5, the DPR said that the revocation was influenced by a presidential order to recover legacy debts owed by the firms operating the licences, it was gathered.
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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).