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DPR
The Department of Petroleum Resources (DPR) said that it has sealed 103 illegal filling stations and 13 gas plants in Lagos.
Under the PSC, Addax fully funded and operated the development of the OMLs, with profit shared between Addax and NNPC.
The decision to return the operating license on the 4 oil blocks was taken by the President to avoid any major face-off with the Chinese government.
The DPR’s approach is akin to eating your broth while it is cooking and then burning your tongue in the process, rather than waiting till it is cooked.
The DPR has distributed letters to companies shortlisted as bid winners of marginal fields on offer in the country.
The DPR said it shut down 86 LPG plants in Lagos State in 2020 for operating illegally.
Is it too early to make a call that FLNGs are the future of the natural gas market?
DPR has warned depot owners against the hoarding of petroleum products in their facilities across the country.
Nigeria is expected to earn about $500 million from the signature bonuses to be awarded for 57 marginal oilfields in the country.
The DPR has stated that it will commence the remote monitoring, registration, and accreditation of all petroleum products depots.
DPR has announced the introduction of new guidelines to accommodate more LPG investors and operators across the country.
DPR has shutdown 85 LPG plants in Lagos from January to October of 2020, for engaging in illegal operations.