The Department of Petroleum Resources has said that companies who hold now invalid refinery project licences have the opportunity to apply for them to be revalidated.
In a statement signed by its Head of Public Affairs, Paul Osu, , DPR said, “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.
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“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.”