Nigeria’s petroleum regulator has revoked six oil block licenses due to “legacy debts”, it said in a public notice on Thursday.
The notice, which went viral quickly, said the move by the Department of Petroleum Resources was “in furtherance of the presidential directive”.
The action comes as Nigeria takes a more aggressive approach to collect taxes and royalties that the country says it is owed. Oil industry sources said Nigeria has also been increasingly vocal about rescinding licenses that are not being actively developed.
The notice said oil mining lease (OML) 98 was revoked from Pan Ocean Oil Corporation, OML 120 and 121 from Allied Energy Resources Nigeria Limited, OML 108 from Express Petroleum & Gas Company Limited and OML 110 from Cavendish Petroleum Nigeria Limited.