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JUST IN: FG considers extension of expired oil licences beyond 2026
Published
2 months agoon
The Federal Government has begun reviewing applications from oil operators seeking extensions for licences that have expired, in a move that could allow them to retain control of their assets beyond 2026.
Checks by Very Nigerian showed that operators whose oil licences have expired have submitted applications requesting extensions to continue managing the affected oil and gas assets.
The review is expected to determine whether the operators will be granted additional tenure to retain control of the assets after 2026.
A source at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said: “The companies have applied for extensions, and the applications are currently being reviewed. It is a normal practice.”
Pearl Essien is a digital content creator and a graduate of the prestigious University of Calabar. With over four years of experience in writing, she specializes in crafting engaging stories that inform and inspire readers. Outside of her work, Pearl enjoys storytelling, reading, and playing table tennis, bringing the same curiosity and passion to her hobbies as she does to her writing.
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