DPR says 32 inactive refineries can still renew licences

The Department of Petroleum Resources (DPR) has said all 32 refineries found not to be active can be resuscitated through renewal of their licences.

It denied revoking the refinery licences issued to private companies.

Head, Public Affairs at the DPR, Mr Paul Osu, made the clarification in a statement on Tuesday in Lagos.

He stated, “We wish to clarify that the 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.

“This does not in any way translate to revocation of licence of the company.”

According to him, the DPR in line with the aspirations of the government initiated the refinery revolution programme of the country. He said it was aimed at boosting local refining capacity by enabling business and creating new opportunities for new investors with the granting of modular and conventional refinery licences to investors.

Osu said the DPR would continue to provide support for investors in the oil and gas industry in Nigeria using its regulatory instruments of licences, permits and approvals to stimulate the economy and align with governments job creation initiatives.