Nigeria revokes oil licences of 6 companies to recover debt

Nigeria's Department of Petroleum Resources (DPR) has reportedly revoked the oil mining licences (OML) granted to five companies along with 1 oil prospecting licences (OPL), local media reported today.

The step is being taken to recover "debts" owed by the companies operating the licences, according to the public notice of DPR.

Licences of below companies are revoked.

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).