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Minister of State for Petroleum Resources, IBE KACHIKWU

FG to withdraw licences of Idle Private refineries

The Federal Government has concluded plans to withdraw licences of private refineries which have not been able to produce petroleum products after many years of their acquisition from the Department of Petroleum Resources, DPR.

Specifically, the Minister of State for Petroleum Resources, IBE KACHIKWU has directed the DPR to ensure the withdrawal of the expired licences without further delay.

 KACHIKWU, who gave the order on the sidelines of the ongoing Offshore Technology Conference (OTC) in Texas, United States, said the Federal Government was willing to provide an enabling environment that allows for the thriving of private refineries nationwide.

About 25 of the affected 32 licences may be withdrawn, as they have exceeded the two-year grace given them by the DPR to commence the production of petroleum products.

 

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