The Department of Petroleum Resources has debunked reports that it has revoked 32 refinery licences of some private investors in the country.
The DPR, in a statement by its Head of Public Affairs, Paul Osu, maintained that the DPR did not revoke any licence noting that Refinery licence, like other regulatory instruments, have validity periods for investors to attain certain milestones.
It states ” 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 .”
