FG Revokes MKO Abiola’s Summit Oil Licence, Others


The Department of Petroleum Resources (DPR) has revoked five Oil Mining Licenses (OML) and one Oil Prospecting Licence (OPL) granted to late Basorun MKO Abiola.

Department of Petroleum Resources (DPR) on Thursday in the public notice issued on Thursday stated that the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences.

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The five companies are, Pan Ocean Oil Corporation (OML 98); Allied Energy Resources Nigeria, (OML 120 and 121); Express Petroleum and Gas Company (OML 108); Cavendish Petroleum Nigeria (OML 110) and Summit Oil International (OPL 206).

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