Nigeria's Oil Regulator Demands Urgent Investment from New Licensees
Nigeria's upstream petroleum regulator issues a clear directive to new oil license holders: invest swiftly or face forfeiture. This move underscores the nation's ambitious targets to boost crude oil production, aiming for 2 million barrels per day by 2027. The industry faces pressure to comply with strict Petroleum Industry Act provisions, ensuring both economic growth and community engagement.
The Nigerian Upstream Petroleum Regulatory Commission has urged newly licensed oil companies to move quickly to develop their assets and meet their obligations to host communities or risk losing their licences. The Commission Chief Executive, Oritsemeyiwa Eyesan,gave the charge i
This story was sourced from AIT Live and rewritten in SEVA editorial voice. Read the full original at the source.