Tag: DPR

Fuel Marketers’ Billions of Naira Trapped in PPPRA, DPR, PEF – IPMAN

Tade Salako

“Major crisis looms in Nigeria’s fuel market, requires urgent reconciliation of the huge sums of money trapped in scrapped agencies”   The Independent Petroleum Marketers Association of Nigeria (IPMAN) has cried out, alleging that funds of its members are trapped in the recently-scrapped agencies in the Ministry of Petroleum Resources. Platforms  Africa reports that IPMAN made this known in a statement signed by its National President, Mr Chinedu Okoronkwo, on Thursday in Lagos. The scrapped agencies are: the Department of Petroleum Resources (DPR), Petroleum Equalization Fund Management Board (PEFMB), and…

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House, DPR on Collision Course Over Oil Block’s Revocation, Awards

Efe Wellington

Experts back DPR, say House lacks power to reverse Dawes Island Marginal oilfield’s Award   The Nigeria’s House of Representatives’ Committee on Public Petitions and the Department of Petroleum Resources (DPR) are on collision course over Dawes Island marginal field lost by Eurafric for holding the national asset without production and making it unviable for seventeen years. Platforms Africa reports that the Minister of Petroleum Resource through the Department of Petroleum Resources (DPR), a regulator empowered by law, awarded the field to Petralon 54 Limited and its partners during the…

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Nigeria hands over Marginal Oil blocks’ licenses to Winners + FULL LIST

Efe Wellington

  DPR gives self pass mark, opens up on reasons the process lasted for one year before winners emerged + how over 500 applicants could not make it to the end   Nigeria has awarded marginal oil field licences to winners (indigenous oil firms) as it concluded the bid round process exactly one year after the kick off.   READ ALSO: DPR confirms Platforms Africa Exclusive Story on Shakeup, Deputy Directors JUST IN: Buhari makes U-Turn, orders DPR to return revoked Addax oil blocks Number of Petrol Stations in Nigeria…

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Nigerian Oil blocs’ winners emerge, get 45 days to pay Signature bonus

Efe Wellington

  The Department of Petroleum Resources (DPR) has picked winners for 57 marginal oil blocs with demand for them to pay as much as $1.14 bil  lion cumulative Signature Bonus in 45 days. The agenxy itself said rarlier that it targetted at least $500 million in signatire bonuses from the process. The agency, Platforms Africa gathered, distributed the third letter in the series of correspondences it has been sending to, apparently, the 161 companies selected as winners of interests in the 57 marginal fields on offer in the country’s second…

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N2trn unremitted revenues’ racket rocks Nigerian oil industry regulator, DPR

Efe Wellington

  A N2 trillion unremitted revenues’ racket has rocked the Department of Petroleum Resources (DPR), watchdog for the Nigeria’s oil industry. The oil and gas industry regulator raked in N2.4 trillion in 2019 but only remitted N44 billion, leaving behind N2 trillion for personal use, according to a document from the Nigeria’s Senate. The upper legislative house, which has begun a probe of this racket has barred Agency’s Director, Sarki Auwalu from appearance before it through proxy as probe of N2.4trn revenues continued on Tuesday. The Senate has penultimate Friday…

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