Tag: Department of Petroleum Resources

‘Petrol price could increase to N1,000 per litre if subsidy is removed’ – DPR

Aminu Imam

The Department of Petroleum Resources, (DPR), has stated that the pump price of petrol in Nigeria may rise to N1,000 per litre when the petrol subsidy regime ends without an alternative energy source. Recall that group managing director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari last month had stated that the cost of petrol should be N256 per litre at filling stations without subsidy. The price of premium motor spirit (PMS), better known as petrol, currently hovers around N162/N163 per litre. According to the DPR Director, Sarki Auwalu,…

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“We have an accurate record of crude oil production” – DPR to NEITI

Aminu Imam

The Department of Petroleum Resources, (DPR), has stated that it has a record of the exact quantity of crude oil produced in the country. Recall that the executive secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji had stated that the exact quantity of crude oil produced in the country is unknown due to the absence of meters at wellheads and the lack of capacity to monitor deep offshore fields. The Department of Petroleum Resources (DPR) has stated that it has a record of the exact quantity of…

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DPR denies revoking licenses of 32 refineries

Aminu Imam

The Department of Petroleum Resources, (DPR), has denied media reports that it revoked licenses it issued for 32 private companies to establish refineries. Media reports earlier said the federal government revoked licenses that it had issued within a period of three years. However, in a statement yesterday, DPR clarified that refinery licenses have validity periods for the investors to achieve certain milestones and would become inactive after its expiration until the company reapplies.  Picture caption: DPR.Director-CEO, Engr Sarki Auwalu “We wish to clarify that DPR did not revoke any refinery…

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