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FG to Revoke Dormant Oil Field Licenses
The Federal Government has announced plans to withdraw licenses from oil companies that fail to develop their fields. Minister of State for Petroleum Resources, Heineken Lokpobiri, said only firms with the capacity to boost production will retain access.
The move aims to meet Nigeria’s OPEC quota and budget targets. The government is also reviewing industry fees and pushing gas development under the Decade of Gas initiative.
