NUPRC to revoke idle oil licences, issues October deadline
The NUPRC has warned holders of idle oil licences from recent bid rounds to meet work commitments or risk revocation under the Petroleum Industry Act. Read More: https://punchng.com/nuprc-to-revoke-idle-oil-licences-issues-october-deadline/
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a deadline for operators of non-performing oil licences to submit compliance status, identify obstacles delaying operations, and submit revised plans for meeting their obligations. The deadline is October 31, 2026, and it applies specifically to holders whose acreages are not meeting their approved work commitments.
This enforcement drive is part of efforts to increase Nigeria's oil and gas production by ensuring that licensed acreages are actively explored and developed, as stated in the Petroleum Industry Act 2021.
Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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