Lagos — The Department of Petroleum Resources, DPR, Tuesday, denied revoking 32 refinery licences issued to private companies.
In a statement in Abuja, Head of Public Affairs of the DPR, Mr. Paul Osu, disclosed that the validation periods for the 32 refinery licences had simply elapsed, following the attainment of stipulated milestones as stated during their issuance.
He explained that new licences would be issued for the refineries when the recipients apply for revalidation for migration to other milestones.
He said: “Our attention has been drawn to a report 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 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 licence of the company.
“DPR in line with the aspirations of 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.
“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.”
This article was oroginally posted at sweetcrudereports.com