The Department of Petroleum Resources has announced that refineries with invalid licences can apply for revalidation to migrate to a new milestone.
The Department had declared 32 private refinery licences invalid stating that the licences expired since 2018.
Among these refineries are: BUA Refinery & Petrochemicals (Akwa Ibom); 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).
The list also include 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).
There is also 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 are 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).
The Department in a statement signed its Head of Public Affairs, Paul Osu, explained that for refineries, after the validity period for the 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 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.”
The Department however gave the assurance of continued support for investors through its regulatory instruments of licences, permits and approvals, as well as to stimulate the economy growth.