Nigeria’s oil industry regulator, the Department of Petroleum Resources (DPR), has declared that it remitted $1.03billion to Federation Account from oil and gas royalties and legacy debts. The DPR, which said this in a statement made available to Platforms Africa, quoted its Director, Sarki Auwalu, to have said that the agency collected oil and gas royalties, which represent the propotional value of oil and gas production, flare gas penalties, concession rentals paid for grant of oil and gas acreages and miscellaneous oil revenues comprising statutory application fees, licences, and…
Read MoreDPR remmits $1.03bn oil royalty, legacy debts to Federation Account
