Contrary to several reports that the Nigerian Department of Petroleum Resources (DPR) revoked the licenses issued for the establishment of thirty-two (32) refinery projects in the country, a statement signed by the Head of Public Affairs of the DPR, Paul Osu, has refuted the report.

The report listed BUA Refinery & Petrochemicals (Akwa Ibom), Southfield Petrochemical & Refinery Ltd (Edo State), Starex Petroleum Refinery (Onne Oil & Gas Free Trade Zone), RG Shinjin Petrochemicals (Delta State), Don Mac (Edo State), Platinum Hydrocarbon Resources (Delta State), All Grace Energy (Rivers State), Green Energy International (Rivers State), Fresh Energy Limited (Bayelsa State), Chyzob Oil & Gas (Abia State), Aiteo Energy Resources Limited (Delta State), Associated Worldwide Company (Akwa Ibom State), and Amakpe International Refinery (Akwa Ibom State) as some of the affected companies.

The report noted that refinery licences like other regulatory instruments have milestones attached to them. It said that after a given milestone is achieved, the license owner is to approach the regulator for a new instrument for the next phase, which does not translate to revocation of the licence of the company.

DPR said that the aspiration was being meticulously carried out by enabling business and creating new opportunities for investors with the granting of modular and conventional refinery licences, and stated that it will continue to provide support to investors in the sector in Nigeria using its regulatory instruments, including licences, permits and approvals to stimulate the economy and align with government’s job creation initiatives.

Excerpts from the statement read:

“Our attention has been drawn to a report in some publications 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 licences 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.”